The accounting of the estate is the most exciting step in the probate process. After waiting for debts and taxes to be paid, the beneficiaries finally get to review the executor of the estate’s work and take home their slice of the estate. Similarly, the executor of the estate finally gets to relax having discharged their duties. Everyone loves accountings, but not many people know the details about them. There’s more to accountings than just disbursing assets which is why you need our guide to the top secrets of New York estate accountings.
The Rights of Beneficiaries
During the accounting beneficiaries can and should do more than simply sit back and receive their inheritance. Beneficiaries can also review the full account of the executor of the estate’s actions and make sure that those actions make sense. This is vital, if the executor of the estate didn’t fulfill their duty then beneficiaries need to find out. Reviewing the account and making sure everything is in order is a lot of paperwork. However there’s no need to worry because beneficiaries also have the right to hire an attorney to take care of it for them.