Legal Question in Wills and Trusts in New York
There was a will
For Margaret,
With one asset
A co-op apartment
in new york.
George, a grandson, was the executor
Of the will, which said
The asset should be divided
Between Margaret�s 2 sons or their heirs.
Just before her death,
Margaret changed the
Co-op shares to be in
George's name.
George sold the co-op
And did not share
The money amongst
The heirs.
Were his actions legal?
3 Answers from Attorneys
Apparently. A will can only distribute assets owned by the Testatrix at her death.
Yes. If she didn't own it, it is not part of her estate.
I am going to say - MAYBE! If Margarte was competent, not under any disability and was not the victim of undue influence by George so she acted of her free will in changing the share registraqtion, George keeps everything. If George acted improperly in getting Margaret to do this, or she was not acting under free will and competently, the heirs may have a claim. This could involve long and expensive litigation and require good proof.
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