Estate Accounting And Strategies That Rise To The Top
After the incapacitation or death of a loved one, the process of estate administration begins. Depending on the nature of the estate planning instruments available, administration can be formidable. The executor or successor trustee has a plethora of fiduciary obligations set before them.
Disputes frequently arise. Beneficiaries and heirs may object to the amount of time the fiduciary takes to make distributions of the estate’s assets. Sometimes, the estate’s value is an issue. Questions of who gets what or the fiduciary appointment also arise. With more than four decades of experience, I have worked with a wide range of allegations and scenarios.
Theories That Need To Be Brought To The Table
Battle lines are generally drawn involving issues of estate administration that include but are not limited to:
- Overspending on lawyers
- Exceeding budgeting on accounts
- Managing assets improperly
- Wasting assets
- Not meeting fiduciary duties
- Maintaining the value of the property
- Not selling the property
- Maximizing the potential value of assets
- Investing wisely, investments made promptly and properly
- Use and occupancy claims
Objections are frequently the litigation tool used to force fiduciaries to properly account for the estate they are handling. But the resolution of these types of disputes frequently required the filing of a proceeding to initially order or compel the fiduciary to submit a petition seeking a judicial settlement. It may seem like common sense, but not every fiduciary has properly updated the trust or estate. Not every fiduciary has properly delineated assets and expenses. Frequently fiduciaries do not fully understand or appreciate the range and scope of duties owed.
When a party – an heir or beneficiary – is due to receive a distribution from an estate, they can file a petition to request a compulsory accounting. The process of discovery is best done with the assistance of a knowledgeable estate administration attorney. The fiduciary’s records are a critical element in a disputed estate administration. Fiduciaries can be subject to surcharges if they are not upholding their duties and handling estate matters appropriately.
Retaining Counsel Is Essential To Protect Your Interests In Contested Matters
I have unparalleled experience in estate accounting and composing successful strategies that protect my client’s interests. Surrogates or estate judges have appointed me to act as an expert and guardian in many complex estate administration cases.
With deep experience assisting fiduciaries as well as beneficiaries and heirs with handling estates, I can assist you with:
- Establishing the flow of disclosed assets
- Discovering veiled assets
- Managing assets
- Compulsory and contested accounting
I am often sought by other New York attorneys who are seeking an estate litigator. My level of skill in untangling complicated estates involving millions of dollars in assets has resulted in more expeditious solutions for my clients. Call David I. Grauer, Attorney at Law, in White Plains, at 914-269-2419 or send me an email to initiate a free phone consultation.