FAQs Regarding Estates

Q: What are beneficiary rights?
The beneficiaries of an estate are the individuals who receive assets under the estate. Beneficiaries have the rights to obtain the assets and benefits pursuant to the terms of a will. In short, beneficiaries’ rights involves receiving your inheritance you are supposed to receive!

Q: What is a partition action involving an estate?
Sometimes beneficiaries of an estate inherit a portion of a parcel of real estate. The other portion of the real estate is owned by other individuals. When one of the individuals who inherit wants to sell the property and the other individuals do not, it is necessary to bring a partition action to obtain a court order forcing the sale of the property.

Q: What is an accounting?
When an estate is administered an accounting, either formal or informal, must be made. Accountings serve to show the assets which were received by the estate, the income which was received by the estate, the expenses of the estate and how the estate’s assets either were distributed or sought to be distributed.

Q: What is a will or trust construction proceeding?
Sometimes the terminology in a will or trust is not clear. This can lead to several interpretations. These interpretations can have significant financial impact on potential beneficiaries. In these cases, a proceeding can be brought in the Surrogate’s Court asking the court interpret the will to avoid litigation among the potential beneficiaries.

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