Legal Question in Wills and Trusts in New York
safeguarding my rights during settlement of dad's will
My 2sister's and I don't agree on a timetable to settle dad's estate.Daughter#1is the executor and daughter#2 has many thousands of dollars in her acct.that was dad's put there before his death since he had no access to the bank.It was agreed by dad and hs beneficiaries thatthe money would be put in her name only for safeguarding 2 witness'were present when he said this..Considering I must be reasonable how long must I wait till the home is marketable and sold..I am so afraid this home will remain unsold and a shrine to my dad.What about the thousands being held also by my sibling? I feel the executor is dragging her feet.
2 Answers from Attorneys
Re: safeguarding my rights during settlement of dad's will
Executors who, by uncalled for delay or negligence, cause the estate property to lose value can be held personally responsible.
Do you take under the Will?? I assume that you do.
You can apply to the Surrogate to order the executor to collect assets from sister 2 and sell or distribute the house.
You can demand an accounting.
You can apply to remove sister 1 from serving as executor.
This can be pretty heavy stuff and you should seek advice from a lawyer.
Re: safeguarding my rights during settlement of dad's will
New York mandates that every estate be
open for a minimum of 7 months from the
date letters are issued by the Court.
After such time, you may petition the
court for a judicial settlement
This can be defeated if there are legitimate
reasons for delays. Any reasonable judge
will fix a time frame for the closing of the'
estate in such proceeding
the question of whether the money was a gift
or was held in trust can also be answered
in such proceeding
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