A beneficiary of a NYS trust is demanding a full accounting of the assets of the trust before the trust is settled. Is he entitled to it and who pays for the work. Half of the assets have been distributed and the rest will distributed after the sale a some property. This individual is looking to make things as difficult as possible for all involved, but cannot sue as a directive in the trust would remove him as beneficiary if he sues.
A beneficiary has a right to demand an accounting. Also, a full accounting, with desired documentation (including a receipt and release) will protect the trustees. You should hire a lawyer to assist you with this matter.
The beneficiary has the right to seek this full and complete accounting. It also lets you off the hook once filed and accepted by the court. The trust would bear the costs of this accounting in most cases. Get with an estates attorney to assist you.
Not sure what your claim is based on the facts you present. Anway you need to meet with an estate litigation attorney in your area to go over the facts and to see if you have any statute of limitation problems at this point. Anything less than this meeting is a waste of time.
Hope this helps.
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Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336 or his email address is [email protected] , his website for more tax, estate and business articles is www.sjfpc.com.
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