Most Recently Updated Sept. 16, 2017.
FIling a Formal Accounting.
Probate Attorney, Tatyana Gleyzer.
From our “Ask a Question” mailbag: Filing a Formal Accounting.
“I have served as the Executor for my mother’s Delaware County estate for over a year and wish to close the estate, but my brother claims that I have embezzled money from the estate. This is ridiculous, but how can I close the estate while he makes these claims?”
Filing a Formal Accounting Brings the Estate to an End.
It is unfortunate that your brother is making these claims, but there is a forum available to you that will allow you to bring the estate to a close.
As the executor, you could make an “at risk” distribution of the estate assets. This means you distribute the money without getting a release. This is not advisable, as your brother could then use his inheritance to hire a Orphans’ Court Lawyer to force you to file a Formal Account. Because you would have distributed the estate funds, this cost would come out of your pocket.
Instead, you have the legal right to retain your own Delaware County Orphans’ Court Attorney to help you assemble and file a Formal Accounting. The costs related to this are a normal cost of an estate and paid out of the estate’s funds.
Your brother is then free to object to your accounting. If you cannot satisfy his objections, you will get a hearing in front of the Delaware County Orphans’ Court judge who renders a decision. Either way, you are then done and released.
For more information, see my website about Closing an Estate.
Formal Accountings, Explained.
In conclusion, in this Post, I tried to introduce you to the process of filing a Formal Accounting. Further, I included links to even more detailed information on my website. So, let me know how I did, comments and questions are welcome!
Furthermore, I would be happy to answer your questions. If you have any other matters for a Delaware County Probate Attorney, feel free to contact our office for a free consultation. We try to make the process painless!
Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!
Author, Peter Klenk, Esq.