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Loren
Loren, Attorney
Category: Estate Law
Satisfied Customers: 29012
Experience:  30 years experience in the practice of estate law.
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Then who tells the beneficiaries who much the estate was

Customer Question

then who tells the beneficiaries who much the estate was worth by law does the executor have to tell them nobody knows how much was spent and on what. there has to be someone that is protecting the beneficiaries how is it possible to only tell them what is left and not what it was worth. especially when not all the money was found when the lawyer said this is all there is 3 bank account a 401k then in a couple months another one was found someone other then the executor has to have a right to know how much the estate was worth. your right I have not trust in the excutor
Submitted: 10 months ago.
Category: Estate Law
Expert:  Loren replied 10 months ago.

The executor hires the attorney, but all the fiduciary duties to individual beneficiaries are owed by the executor. The probate act describes the duties owed by the executor, it does not describe those fiduciary duties as owed by the attorney.

If the executor does not provide this information then the beneficiaries may petition the surrogate court to sanction the executor or even remove them and appoint a successor.

Expert:  Loren replied 10 months ago.

The executor is required to report to the court and those reports are public record. Also, the beneficiaries may petition the court to order an accounting.

Expert:  Loren replied 10 months ago.

Are you still with me?

Expert:  Loren replied 10 months ago.

Did you have further questions? Have I answered your question?

Expert:  Loren replied 10 months ago.

If you have no further questions, and have not yet done so, please remember to leave a favorable rating (Excellent or Good) so that I am credited for assisting you. A bonus is not required, but is always appreciated.

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