Legal Question in Wills and Trusts in New York

In the state of New York when is the beneficiary of an estate provided an accountability of the estate by the probate attorney ? Before the estate is finalized and funds are all distributed or before?

Asked on 1/28/19, 5:32 am

1 Answer from Attorneys

Richard Bryan Richard Bryan Attorney PC

It depends on whether the beneficiary is receiving an amount set in the Will, like "I leave the sum of $50,000.00 to my friend . . .." or whether it's a percentage. If it's a percentage than the lawyer provides an informal accounting before making distributions, because the beneficiary will sign a "receipt, release and indemnification," which is a paper which says "I have reviewed the accounting provided by the lawyer and I agree it is correct and I have no objections."

Good luck.

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Answered on 1/28/19, 7:07 am

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