While clear and regular communication with beneficiaries is always a good idea, it is also a requirement. At minimum, you are required to notify the beneficiaries of the following information: the name of the deceased person, your name and contact information, the gift the beneficiary will receive from the estate, and that gifts are subject to payment of the deceased person’s debts and claims against the estate. If you are applying for probate or for a grant of administration, there are also requirements to provide a copy of the application, as well as any applicable notices prescribed by the Surrogate Rules. You should also keep the beneficiaries informed of the progress of the administration of the estate and provide regular updates. For more information on what you need to do in your particular situation, feel free to contact us for a consultation.
My sister is executor of my mom and dad’s will. There is no property just cash. They had no debts. I am also a beneficiary (50% of moneys after expenses). Am I entitled to ask for receipts and accounting of what has gone into and out of their account to date even though cash is not ready to be disbursed yet?
They Passed in January and February of this year and their taxes have been filed but their final taxes will not be done till next year. Does the executor have to wait until their final taxes are done next year to disburse moneys?