Informal Accounting of Estate?

What is the name of your state (NJ)?

If a person requests a "Formal Accounting" of someone's estate to the executor, but the executor offers an "Informal Accounting" of the estate as a means of saving money, the informal accounting allow the executor to hide things such as taking money out of the estate?

Do you have specific proof or a particular concern about exactly how the money was stolen? What does your attorney say about this? Has the executor posted an executor's bond or does the will exempt that requirement?

Dandy Don said:

Do you have specific proof or a particular concern about exactly how the money was stolen? What does your attorney say about this? Has the executor posted an executor's bond or does the will exempt that requirement?

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What is an executor Bond?

girlyque said:

What is an executor Bond?

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A bond is used to ensure that a person in a position of trust, in this case an estate administrator, does not violate his/her fiduciary duties, causing monetary harm to the estate's creditors and beneficiaries. The issuer of the bond generally promises to reimburse the affected parties if the executor engages in some form of malfeasance.

Since the cost of the bond generally comes from the estate's funds, it is often waived.

You are in the driver's seat. Request whatever backup documentation is necessary to make you feel comfortable in accepting the informal accounting.