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Suffolk New York Release and Exoneration of Executor on Distribution to Beneficiary of Will and Waiver of Citation of Final Settlement

Category:
Probate - Releases
State:
Multi-State
County:
Suffolk
Control #:
US-03366BG
Format:
Word; 
Rich Text
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Description

Most states have a statute that requires something to the effect that upon the filing of an account for final settlement by the executor of the estate of a decedent, a citation is required to be filed containing a statement that such final account has been filed, the time and place when it will be considered by the court, and a statement requiring interested persons that are cited to appear and contest the same if they see proper.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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  • Preview Release and Exoneration of Executor on Distribution to Beneficiary of Will and Waiver of Citation of Final Settlement
  • Preview Release and Exoneration of Executor on Distribution to Beneficiary of Will and Waiver of Citation of Final Settlement

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FAQ

For example, if action and a Grant of Probate has been extracted, it will be necessary to issue a claim at court to remove an executor; even if that is being done by consent. Conversely, if no steps have been taken at all, an executor can be invited to 'renounce' their position, that is to say, step down from the role.

An Executor can renounce that role themselves before they have accepted it, but once they have commenced the practicalities of the estate's administration, a Court Order will be required for their removal (whether sought by the Executor themselves of a third party, i.e. beneficiary) as they may be deemed to have

If a beneficiary believes that an estate is not being properly administered, then it is possible for them to apply to the court to substitute or remove an executor.

Introductory comments about executor releases The main reason executors ask beneficiaries to sign a release and indemnity before they undertake distributions of the estate's assets is to receive legal confirmation of their work and their estate accounting to date.

No. The executors of a will have a duty to act in the best interests of the estate and the people named in it. So, an executor can't change the will without the permission of the beneficiaries.

If a beneficiary believes that an estate is not being properly administered, then it is possible for them to apply to the court to substitute or remove an executor.

Yes. Although executors generally are not liable for the debts of the estate they administer, there are at least two situations in which they can open themselves up to personal liability.

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