Legal Question in Wills and Trusts in New York

Re: Say in how will is followed out

Q. Am I allowed to have a say in stipulations?

A. Not really. The estate owns the house and the estate is represented by the uncle.

As an aside, is the house in an estate or a trust? As an estate, the house should be sold and funds distributed.

Q. Why should he get money at the end? Wouldnt he be paying even less if he gets it back 42% his share after the estate is settled.

A. Obligation to rent and receipt of gift under a will are independent of each other.

Q. Can and do I have a say in the matter?

A. Maybe. If the executor's decision gives rise to a "breach of fiduciary duty," you would be able to petition the Surrogate's Court to hold the executor responsible. However, based on the limited facts received, your uncle is renting the house for value. And although it maybe slightly less then market value, accounting for the fact that it is a family member and that the family member will be receiving money should he fail to pay rent, it is not a clear breach of the uncle's fiduciary duty.

Mike.

Re: Say in how will is followed out

I agree with Michael, but the language of the Will has to be reviewed as to what rights the Executor may exercise. A quick question is whether the rent to be charged covers all estate obligations such as real estate taxes, fire insurance, utilities, repairs and maintenance, etc.? Is there going to be a lease? What will it provide? This may be an abuse of discretion by the Executor, but further information is needed. The Executor must act fairly to all beneficiaries and cannot prefer one over the others. If he is acting improperly, a complaint must be filed with the Surrogate and the Court will decide what is fair and reasonable and what can or cannot be done.