Questions and Professional Answers

• What is the time a trustee has to produce an accounting of trust?

  A demand for an accounting under probate code section 16061 was made to the court, letters to administer the estate were given to my stepfather. The judge said I would be getting the accounting I requested. How long is the trustee given to produce this accounting?

  • Re: What is the time a trustee has to produce an accounting of trust?

    if you made a formal motion to the court the judge most of the time, i would say all of the time would have continued the motion and granted it saying he had xx amout of days to supply you and the court with a formal accounting and set a date for this to be all done. if this was not done i would refile the motion and set a hearing. this is the problem with a pro per and not getting a real attorny to help and handle your case who is a probate expert. my real advice is get a real attorney now, yesterday!!!!!

    Michael Olden
    Law Offices of Michael A. Olden
    1035 Alta Mesa Drive
    Moraga, CA 94556

• Beneficiary Requesting Accounting

  I was asked & somewhat tried ro be strongarmed into signing an ''Entry of Appearance & Waiver of Accounting, Notice & Bond,'' which I didn't, but all the other beneficiaries did. I was sent a small check via certified letter, which I haven't icked up yet, but from what another beneficiary told me there is no accounting info or anything with the check like with the last estate prior. Can I request the accounting breakdown since I didn't sign the waiver? Should I not pick up & sign for the letter at the post office, or is it ok to pick it up but just not cash it? Or is cashing it ok? Since I didn't sign would the accounting be in my envelope? How do I request the accounting? The estate is in AR, I don't have contact with the AR lawyer, the CA lawyer has been doing the communications. Thank you kindly for your assistance.

  • Re: Beneficiary Requesting Accounting

    If you have a California lawyer, tell him that you will not accept a disbursement without being satisfied with the accounting by the executor of the estate. The accounting, if one was submitted in the probate, is part of the court's record. You can pick up the phone, call the probate clerk at the courthouse in Arkansas, and ask how you can arrange to get a copy of the accounting sent to you.

    Mitchell Roth
    MW Roth, Professional Law Corporation
    13245 Riverside Dr. Suite 320
    Sherman Oaks, CA 91423

• formal accounting

  how can one find a sample formal accounting to base my own formal accounting on? I'm trying to put one together but want to make sure i follow the correct format and include all that is necessart

  • Re: formal accounting

    Unless you are an estate attorney or perhaps an accountant, I would caution you against trying to prepare a formal court accounting for the estate.

    Jonathan Chester
    Lindabury, McCormick, Estabrook & Cooper, P.C.
    480 Morris Avenue
    Summit, NJ 07901

  • Re: formal accounting

    You are very likely to cause yourself harm. Please hire an attorney (or perhaps an accountant who is familiar with estate accounting, but an estate attorney would be better).I do not do this work, but I have several friends who do. Call me if you like.

    Robert Davies
    The Davies Law Firm, P.A.
    45 Essex Street, Suite 3 West
    Hackensack, NJ 07601

• Security Deposit Accounting

  I broke a lease, the apartments charged the remaining rent, the reletting fee, and some other charges that I am dubious about. They sent it straight to collections. I have been trying to get an accounting of my security deposit from either the collection agency (they refused) or the landlord as it seems to be several hundred dollars short of what my lease states I had. So far I have sent two letters to the landlord asking for the accounting, they havent sent me anything except a statement that I owe them $XXX and said I did not recieve my accounting as I did not leave a forwarding address. Both my letters gave the forwarding address, requested the accounting due to the seeming discrepancy in amounts and disputed what they were charging. Arent they required to send this info to me?

  • Re: Security Deposit Accounting

    Under the Fair Debt Collection Practices Act, the collection agency must verify a debt if you request it in writing within thirty days of their first communication with you. If they have not done so, you have a case against them for violation of the FDCPA. Not sending the deposit accounting because of no forwarding address is a valid position under the property code, however, if you now request it, they should send it. Have you tried going by the Apt complex and asking for a copy. They have no legitimate reason not to give it to you. With regard to collection agency, you can send them a letter telling them to cease and desist from any and all communications with you, that you prefer to deal with the original creditor as allowed by the FDCPA. Send a copy of the letter to the apt complex. That will take care of any argument they may give you that you have to deal with the collection agency. By law you do not have to deal with a collection agency.

    Sharon Campbell
    Sharon K. Campbell
    3100 Monticello Ave., Suite 500
    Dallas, TX 75205

• Accounting

  My sister is the administrator of my sister's estate. She is not telling us what the estate consists of (all she told us was everything has beneficaries) I was told I could submit a request to the probate court to have her do an accounting. Because I do not trust her what exactly does she have to state when she does the accounting

  • Re: Accounting

    An accounting is a proceeding where the executor must report every dollar collected, to be collected. spent, and owed. Commissions are accounted for, as well as attorney and accountant fees. It is not a cheap process but often necessary in certain cases.

    Alexander Sklavos
    Law Offices of Alexander E. Sklavos, PC
    One Old Country Road
    Carle Place, NY 11514

  • Re: Accounting

    While I agree with Alex, there is slightly more involved of which you should be aware. Technically, all the Administrator need account for, are what are known as probate assets and their disposition. Probate assets are, essentially, only those assets that comprise the probate estate and disposed of either under the Will of the decedent, or by intestacy (by statute, where the decedent had no Will). The accounting shows what the probate assets are; what bills, debts and expenses have been paid, what remains and how what remains is to be distributed. Probate assets do not include any assets that were registered in joint names of the decedent and someone else (like joint bank accounts or POD accounts), or which had some designated beneficiary (like an insurance policy with a nmed beneficiary or a retirement account that named someone to receive it). You can demand an accounting, by filing a Complaint with the Surrogate's Court (there are fees involved) and the Administrator must reply and provide the accounting. It appears, from your question, that any assets of the decedent were either jointly registered or had designated beneficiaries. Thus, there might not have been any probate assets. While this may avoid the necessity for an accounting, questions may still be unresolved, which may require an accounting. How were final bills, expenses, funeral expenses and the like paid, if there were no probate assets? Who were the joint owners or designated beneficiaries on the accounts? There may also be other questions like why, if you were also a sister, nothing went to you? This may open up a can of worms that might lead to other complaints. I suggest you contact a local attorney familiar with estates, to see what information can be obtained. This is a response to an Internet question and any reply is not intended to be legal advice or create an attorney-client relationship, but is for information purposes only. Facts not included in the original question could produce different answers.

    Walter LeVine
    Walter D. LeVine, P. A.
    23 Vreeland Road #102
    Florham Park, NJ 07932

• What is included in an accounting of an estate?

  Does the accounting of an estate go back three years previous to the death or does it begin at the time of death? How can you be sure that the accounting you received is complete, including all bank accounts, stocks etc?

  • Re: What is included in an accounting of an estate?

    The accounting is traditionally from the date of death forward. You rely on the reporting of the Executor as to accuracy and completeness. You can request a formal judicial accounting (which is essentially a literal item by item accounting, and will cost much more to prepare since receipts and checks must be documented, as well as filing fees to the Surrogate's Court). Also, there may be tax returns to be filed (federal and/or state, depending upon the size of the estate) and you are entitled to get copies of these as well, although there may be photographing costs involved). Usually the accounting is only of assets coming into the Executor's possession (called "probate assets") and for which he is responsible. There may be non-probate assets as well, for tax purposes. These would include jointly registered assets, assets with a named beneficiary (like insurance policies and retirement accounts) and these, since they pass outside the Will, may not be included in the accounting as they do not go through the Executor's hands, but usually go directly to the joint account holder/named beneficiary. Finally, if any substantial gifts were made prior to the date of death, these may have to be included in the estate/inheritance tax returns, for tax purposes, but do not pass through the Executor's hands either. This is a somewhat complicated situation and if you have questions, you should call a local estate attorney or me at 973-377-3313 to discuss your questions.

    Walter LeVine
    Walter D. LeVine, P. A.
    23 Vreeland Road #102
    Florham Park, NJ 07932

  • Re: What is included in an accounting of an estate?

    An estate accounting starts from date of death (not three years prior).You are trusting that the executor is providing you with full disclosure of all estate assets. You can require a formal Court accounting in which case the executor is providing all information under oath. If you still have doubts, it is possible to subpoena information from financial institutions if necessary.

    Jonathan Chester
    Lindabury, McCormick, Estabrook & Cooper, P.C.
    480 Morris Avenue
    Summit, NJ 07901

• Trust Account

  How long does a trustee of an estate have to provide the beneficiaries with an accounting of the trust funds? I understand it is yearly, but when does the first accounting have to happen. My father passed away on April 19 and the beneficiaries have not yet received an accounting.

  • Re: Trust Account

    The trust should account every year, so a reasonable time after a year has passed since April 19th would be the time to expect an accounting. In the meantime, the Probate Code gives beneficiaries the right to ask the trustee for information regarding administration of the trust, which may give you an idea of the trust assets and finances.

    Chris Johnson
    Russakow Ryan Johnson
    225 South Lake Avenue, 10th Floor
    Pasadena, CA 91101

• What Should an Accounting Cover + How?

  The trustee of a living trust had an Accountant send an Accounting at the end of the first year. This accounting is 1. vague, eg. Services rendered $, Expenses $ ??2. lacks many totals & account numbers 3. Has an expense paid on one pg. & not on another summary pg. 4. Does not list all checks (most). 5. Doesn't address many unaccounted for, contents of Trust . 6. Some figures don't balance. Has no back-up documentation, which since, has been requested many times.1. Is this a Proper Accounting? 2. What can a Beneficiary do ? 3. Do we have to go over it and ask specific questions.? The trustee is very non-responsive. How long should we give her to produce supporting documentation?Thank You Very Much!

  • Re: What Should an Accounting Cover + How?

    Take a look at Probate Code Section 16063 (available online) for a very specific list of what must be contained in an account including a statement that the recipient of the account may petition the court to review the account and the actions of the trustee). I suggest you ask the trustee specific questions so she has some idea how to respond. If her answers are unsatisfactory to you and do not comply with Section 16063, then you have a right to petition the probate court to review the account and her actions (see also Probate Code Section 17200). Personally, I wouldn't give the trustee more than one month to comply before seeking court action. Note, however, that the trust may waive her obligation to make an accounting, so read the trust itself carefully before you act. You may need to seek the help of an attorney on this one. Note also that if you end up in court, the judge may order that the attorney's fees be paid out of the trust funds (and not by you). (This statement does not constitute my representation of you, nor is it an attorney-client communication.)

    Leslie Beckhart
    Law Offices of Leslie Kent Beckhart
    1122 Armada Drive
    Pasadena, CA 91103

• Accounting of a trust.

  The trustee has not provided any accounting of the trust to which my children are the heirs. Two of them are over 18 years old. I believe they should get a full accounting of the trust and I believe the trustee is hiding a mistake or worse ... neglegance. What recorse do I have??

  • Re: Accounting of a trust.

    You can hire an attorney who can contact the trustee, request this information, then bring him/her into Court to compel release of this information if the information is not provided voluntarily as required by law. If in fact the trustee has engaged in wrongful acts, there are a number of remedies available to the heirs.Feel free to contact my office if you would like to discuss.

    Todd Stevenson
    Stevenson Law Office
    14156 Magnolia Blvd., Suite 200
    Sherman Oaks, CA 91423

  • Re: Accounting of a trust.

    The first step is to make a written demand, unless, as you state, your children have NEVER received an accounting. If this is the case (or if you made a written request and three months have passed) then the next step is to file a Petition for Accounting with the Probate Court. I suggest consulting with an attorney to assist you in the preparation.If you would like to discuss this matter further in a more private forum, please feel free to contact me directly at the email address provided by LawGuru or through our firm’s website located at PasadenaEstatePlanning.comIMPORTANT:No attorney-client nor confidential relationship is created through this communication. You may not rely in any way on this communication, and nothing herein constitutes legal advice nor legal opinion. Your issue may be time-sensitive and may result in a loss of rights if you do not obtain an attorney immediately.

    Scott Linden
    Scott H. Linden, Esq.
    1510 Cotner Ave
    Los Angeles, CA 90025

  • Re: Accounting of a trust.

    They're entitled to an accounting. Start with a written demand for an accounting, if you haven't already done so. If the trustee does not comply within 60 days, you have the right to file a petition in probate court to force an accounting.Even if the accounting is provided without a court filing, you may still wind up there if the accounting is incomplete or shows missing funds or negligence, among other things.

    Chris Johnson
    Russakow Ryan Johnson
    225 South Lake Avenue, 10th Floor
    Pasadena, CA 91101

• turst fund accounting

  my sister is POA for my mother and has control of her trust fund. Is it Mass. law that she provide her siblings (3) with an accounting of this fund? She has been managing it over 3 yrs, and we've never seen a statement. Thanks for your help. My mother is on her deathbed now and we would like an accounting of the fund since she took over--can we legally require her to do so? Thanks.

  • Re: turst fund accounting

    I am sorry to hear that your mother is not doing well.Under Massachusetts law, the power of the trustee is personal to the trustee. Your sister -- as well- meaning as she may be -- has no legal authority to control the trust. If the trust has a successor trustee, that person needs to step up. Otherwise, the Probate Court needs to appoint someone to replace your mother ASAP.Without seeing a copy of the trust, I cannot know how frequently the trustee is required to account. Most trusts I've seen that were drafted in the last twenty or so years require an annual accounting -- but this may not be one of them. Please feel free to contact my office if I can be of assistance.

    Alexandra Golden
    Golden Law Center
    200 Highland Avenue, Suite 302
    Needham, MA 02494

  • Re: turst fund accounting

    Ms. golden's response is direct on point. The Successor Trustee must take over the Trust, not the POA. If no Sucessor Trustee is designated or that person has refused to take over the Trust, then the Probate court needs to appoint someone as Trustee.

    Jonathan Roth
    Donovan Hatem LLP
    Two Seaport Lane 8th floor
    Boston, MA 02210

  • Re: turst fund accounting

    I am sorry your Mother is ill.The terms of the trust control who shall be trustee and successor trustee and what their requirement is for accountings.If you cannot get access to the trust document consider retaining an attorney to assist you in obtaining it.Good Luck!

    Joseph Murray
    Joseph M. Murray, Esq.
    56 North Bedford Street
    East Bridgewater, MA 02333-1173