Legal Question in Wills and Trusts in New York
Questioning the Accounting for the Estate: Walking on Eggs
I am the residual beneficiary of an estate in NY. The will has been probated and I have recently received an informal accounting of the estate detailing (I believe) all the transactions of the estate.
I have several questions about specific transactions that I want the executor to answer. Since all the transactions were executed by the executor, he should be able to answer my questions by himself.
I know that I have a legal right to ask the executor questions about the accounting. However, I worry that the executor will get nervous and consult with the probate attorney about how to answer, or worse, have the probate attorney answer the questions. This will increase the already high legal fees.
Although I have not ruled out hiring an attorney if I do not receive satisfactory answers, I believe it best if the exeucutor can just answer my questions.
Is there a way to have the executor answer my questions about the accounting himself, or does simply asking questions about the accounting run the risk of putting the estate through higher legal bills? Is there also a risk that the executor will then do a formal accounting (even if I don't want it) and delay and cost the estate further?
2 Answers from Attorneys
Re: Questioning the Accounting for the Estate: Walking on Eggs
It seems to me that your best course of action is to call the Executor directly, express your concerns regarding additional fees and ask your questions.
You can always hire an attorney if that does not work.
Good luck.
Re: Questioning the Accounting for the Estate: Walking on Eggs
You always run the risk, and the executor always has the right to answer counsel. But from what you describe, perhaps the best thing to do would be to cotnact the executor, tell heim that you are not accusing him of anything, but just have some questions about the estate that you would like to have explained to you. That way, he won't be immediately on the defensive, and you put him in the position (he beleives) where he has knowledge and you don't. If you don't get satsifactory answers, you can always hire a lawyer later, but he is more likely to open up to you if he doesn't beleive you are accusing him of dishonesty.
Should you like to discuss this or any other legal matter, you can call my office to schedule an appointment for a consultation or in the alternative, I can be reached for on-phone low-cost legal consultation at 1-800-275-5336 x0233699.
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