Legal Question in Wills and Trusts in New York
Ineffective Executor
My great aunt R passed away in 2004 and my great Aunt M passed away in 2007. My cousin E is the
executor of both estates. Both aunts had co-op apartments in Manhattan. As of this writing, E has yet to sell either apartment. She has also yet to liquidate their mutual fund accounts. Me and the other heirs have been patiently waiting for disbursement of the funds from our great aunt's estates. E never calls any of us to update us on the status of anything. Is there anything we can do to encourage her to move this process along? My other relatives are getting up in age and could defintely use this extra money.
2 Answers from Attorneys
Re: Ineffective Executor
I don't know all of the facts, but it seems that both estates should have been wound up by now. You have at least two options. You can file a petition to compel the executor to account for her acts to the court or you can petition the court to have her removed as executor. Both options are rather complicated and I suggest that you retain an attorney. Feel free to call me for more information.
Re: Ineffective Executor
Under New York law, an Executor has a duty to administer an estate expeditiously. The Surrogates Court has rules which require the fiduciary to file with the Court , within a stated period of time, a report describing the status of the estate, if it has not been fully administered.
In addition, there are deadlines for filing New York State and Federal Estate Tax Returns.
In the event that the executor has not taken steps towards administering an estate, a beneficiary may apply to the Court for an Order requiring the executor to provide an accounting of the estate administration.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
