One of the most fundamental duties of a fiduciary is the duty of loyalty. That is, every fiduciary must administer the estate or trust subject to his or her stewardship solely in the interests of the beneficiaries....more
The discharge of an executor or trustee is the ultimate end-game of most, if not all, estate and trust administrations. Affording that kind of comfort level to the fiduciary can be accomplished in one of two ways,...more
6/18/2018
/ Appeals ,
Beneficiaries ,
Duress ,
Executors ,
Fiduciary Duty ,
Fraud ,
Release of Liability ,
Surrogate's Court ,
Trustees ,
Trusts ,
Undue Influence Claims ,
Wills
The fiduciary who thinks a receipt and release is the answer to all future claims for an accounting and liability may have a surprise in store. Over the past several months, Surrogates have explored the issue of receipts and...more
While most decisions rendered by the Surrogate’s Court result from an affirmative request for relief, occasionally the court will address an issue on its own motion when justice or the exercise of its inherent or statutory...more
6/12/2017
/ Beneficiaries ,
Executors ,
Fiduciary Duty ,
Legal Fees ,
Negligence ,
Privity of Estate ,
Probate ,
Revocable Trusts ,
Sua Sponte ,
Trustees ,
Wills
Although one of the many duties and responsibilities of an executor is to marshal and appraise estate assets, and, depending upon the dispositive terms of the governing instrument, liquidate them for purposes of distribution,...more