Aug 29, 2011

Star Ledger Biz Brain

Shirley B. Whitenack, Esq. answered a reader’s question about the rights of beneficiaries to receive updates concerning an estate:
“ Twenty-three of us were named beneficiaries of my uncle’s will. The executor is a cousin of the deceased. It has been five-and-a-half years since the death. There is a house involved, and it’s currently on the market, but we don’t know about any other assets. One cousin sent the executor a letter asking, but there was no response. Is five-and-a-half years enough time to settle up the estate?”
Answer from the Star Ledger:
“You may need to head to court to get information, said Shirley Whitenack, an estate planning attorney with Schenck, Price, Smith & King in Florham Park.
“If the executor continues to be unresponsive to informal inquiries by the beneficiaries, the beneficiaries should hire an attorney to file an action in the Superior Court, Probate Part in the county where the will was probated to compel the executor to settle his or her account and distribute the assets,’’ Whitenack said.“
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