Legal Question in Wills and Trusts in New York

Hello,

My fiancee's grandfather passed away in January 2014. He left shares of stock to his kids and grandkids, with his daughter as executrix. His wish was to give the shares to each of the family members.

My fiancee's uncle owes substantial back taxes to the federal government and knows that if he was to receive his shares, those assets would likely be siezed. He is therefore refusing to give delivery information for his shares, delaying the estate being settled.

I have two questions about this:

1. Can the executrix disburse shares to all other beneficiaries and leave his in the account until he gives delivery information (they are all receiving same number of shares, so the valuation should be irrelevant).

2. Is there any way to force delivery of the shares to him?

Thank you!


Asked on 8/06/14, 11:06 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

The executrix can distribute to all other heirs and hold the shares going to this beneficiary. Normally, to avoid any complications, she could seek Court approval. However, the Court would probably require she alert IRS to the potential distribution. She might consider turning the shares over to the State Unclaimed Property Fund and let him claim them some time in the future. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.

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Answered on 8/06/14, 11:18 am


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