Legal Question in Wills and Trusts in New York
Should beneficiary info be included in estate settlement?
My father passed away, sister is named by court as executrix. He left an estate of less than $10,000 (not including an insurance amt I received as sole beneficiary). I Received certified mail today with estate info broken down as to how much each of 5 children will get. I was sole beneficiary on an investment account, my sister included this info of what I received in the packet of info for the rest of the siblings to see. Is this correct? I did not give her this info, the insurance/ investor my father used gave this to her. The main company admits they received a request from her for the info, is she entitled to this? Does this violate my right to privacy? What are my recourses?
2 Answers from Attorneys
Re: Should beneficiary info be included in estate settlement?
Since this account is part of the gross estate for estate tax purposes, it is proper for the ececutrix to receive the information and also to report it to the other heirs.
Re: Should beneficiary info be included in estate settlement?
You may not like this, but there are valid reasons for this information to be given to the Executrix, including: fiduciary responsibility to report all assets of the estate, whether passing under the Will or otherwise; possibility of income taxes being due by the estate or one or more beneficiaries and proper allocation of the tax liability (depending upon the nature of the assets involved); possible inheritance taxes; or even if a claim could be made on behalf of the estate (such as undue influence againt the decedent to sign the asset over to someone). She is entitled to the information in her estate capacity and full reporting is not a violation of any privacy rights, in my opinion.
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