I would like to know the procedure for changing the executor of the estate in New York?

Question

The beneficiary of the estate is my husband. He inherited from his daughter and he was declared the sole beneficiary. His son told my husband that he could not be both beneficiary and executor, so my husband appointed the son as executor. The assets of the estate were deposited in a Merrill Lynch account in August 2005 and are under the name of the executor. My husband has no access to the assets, and only receives a quarterly amount alloted by the executor. The executor has not given the assets to the beneficiary because he was trying to force him to sign an irrevocable trust. There was no will or previous trusts dictating how the assets should be invested. My husband just wants to get total access to the money in the Merrill Lynch account as is his right. This is the reason why he wants to change the executor. But he wants to do this without causing any legal problems for the executor, even if he has misbehaved.

Answer 1

Your husband is not going to get his wish. It appears that your husband accepted your son's word that he could not be both the beneficiary and the executor. This is most likely incorrect.

You need to consult with an attorney in New York who handles probate matters. The executor can be changed by order of the probate court that established the estate. The executor can also be forced to provide an accounting, and furnish evidence that what he has done has been in the best interest of the estate. An executor of any estate has a fiduciary duty to properly handle the distribution.

Its also improper for the son to attempt to force your husband to sign any documents as executor of the estate. The important thing to realize is 1) Your husband needs to stop listening to his son. The son is not acting in your husband's interests, he's likely acting in HIS interests. 2) You need to contact an attorney immediately.

For a referral to an attorney, contact your local or state bar association.

Answer 2

at the same time as the time comes you may decline yet not replace your son. One executor is mostly adequate, so in case you decline your sister stands proud because the only executor. i ought to echo the adivce others have given. If in any respect plausible make up now. in case you may't make up a minimum of stay as executor. you may enable your sister do lots of the paintings, yet think about a say in case she tries to do something you disagree with. nevertheless, the job of the executor is to do what the want directs, so there is not in many situations a lot discretion required.