Am I legally responsible for additional costs "that may be incurred" after informal accounting approval and release signed?

" ..... I hereby approve the counsel fees, which have been paid and may be incurred in the completion of this estate administration on behalf of attorney and final accounting fees..." The additional amount is open ended shouldn't I get a final amount that will be owed?

Mullica Hill, NJ -

Attorney Answers (2)

Matthew C Simon

Matthew C Simon

Contracts / Agreements Lawyer - Parsippany, NJ
Answered

Based on that limited quote, it seems like it. You need to review the entire agreement to know for sure. Speak with your attorney, in detail, about the situation. If you are uncomfortable, seek a new attorney or pay an attorney to review the contract in its entirety. Good luck.

The above is general information only and is not legal advice. The information provided does not form an attorney-... more
Mary Tom

Mary Tom

Probate Attorney - Wayne, NJ
Answered

If you have been served with an informal accounting, the counsel fee amount as well as any escrow for future counsel fees should have been disclosed. If not all beneficiaries sign a Release and Refunding Bond, the attorney for the Estate may file a formal accounting with the court, at which point the informal accounting legal fees may be insufficient and your share of the estate would be adjusted.

Good luck.

MARY TOM, ESQ.
HUNZIKER, JONES & SWEENEY, P.A.
Wayne Plaza II
155 Route 46 West
Wayne, NJ 07470
Phone No. (973) 256-0456
Fax No. (973) 256-4784

This message does not constitute legal advice and is for informational purposes only. This message does not... more

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