Legal Question in Wills and Trusts in New York
after a final decree can an attorney hold my check?
In a final decree of my mother's estate I was to get a check, I received a copy of the check with a letter and a form stating I am releasing/exonerating/ discharging the Trustee of all liability and accounting. I am to sign this have it notarized and it back before he will give the check.
A paragraph in the form:Now, therefore in consideration of the monies and property hereto received by ME and sum of $50,000.00 this day to ME in hand paid, the reipt whereof is hereby acknowledged. I do hereby release etc.etc.
The next six lines are crossed but they state I am releasing the the Trustee of all accountability to ME without further accounting and I waive the issue and service on ME of a citation to attend the judicial settlement or any other proceeding pertaining or relating to estate of deceased.
This attorney claims he is holding it in escrow until I sign this release, what would I be signing away this time and can he hold it?
Thank you for your time.
--name removed--
1 Answer from Attorneys
Re: after a final decree can an attorney hold my check?
You do not say whether or not you were to receive a specific amount or a percentage share of the estate. This answer is important in answering your question. By signing the document in the form described, you are waiving the right to an accounting of the estate. This might not mean anything if all you were to receive was a specific amount and that amount is being paid to you. On the other hand, if you were to receive a percentage share of the estate (e.g., there were several children and each were to receive a proportionate share of the estate) I would want an accounting, to see how the amount to be paid was calculated, and have the opportunity to review all details of the estate administration (assets involved, debts and expenses paid, taxes paid, if any, fees and costs calculations, etc.), to be sure I am getting all to which I am entitled.
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