What is the waiver of right to an informal accounting?

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What is the waiver of right to an informal accounting?

Should I sign it without seeing anything. What am I missing out on if I sign a waiver of right to in formal accounting for my mothers estate? Will I be hurting myself?

Asked on April 14, 2012 under Estate Planning, New York

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

New York differs from other states in that they do NOT require that the executor file an accounting, formal or informal, except in certain circumstances (where a creditor dispues a claim, where a beneficiary is under a disability, etc.).  New York does require that an inventory of assets be filed 7 months after the appointment of the executor.  Go and look at the file.  If it all "looks good" to you and there is nothing objectionable going on as far as you can see, then you can sign it.  If you feel you want one then you have the right to force the issue and as inventory be filed.  Good luck.


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