Legal Question in Wills and Trusts in New York
Release, receipt and waiver
My aunt died without a will. Another aunt was appointed executrix. I have been asked to sign and acknowledge that I have received my full share of the residual estate on a release, receipt and waiver form. Should I sign even though I have not yet received the money? The estates attorney said this is the only way to close the estate.
3 Answers from Attorneys
Re: Release, receipt and waiver
If your aunt died intestate, there cannot be an executor. An administrator is appointed by the Surrogate's Court after filing a bond to secure his/her perfomance.
Sign the receipt subject to receiving the funds.
Re: Release, receipt and waiver
You should not sign a Release unless you get what you are entitled to.
In these situations the lawyer holds your share of the estate in escrow and when he gets the signed Release from you he will deliver to you your share of the estate.
Re: Release, receipt and waiver
This is a common problem. You are asked to sign several documents indicating that you are informed of things and waiving rights. It is standard to sign such forms.
It is not a requirement that you sign this particualr document for the estate to be closed. However, it does save the executrix some paperwork if you do sign it.
This is not a plot to defraud you. One way to handle your 'unease' is by meeting the executrix and exchange in person your release for the check .
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