Attorney Contesting TOD/Estate

[chrisjac]

Illinois

The attorney who was appointed Executor of the estate is contesting a Transfer on Death document for a brokerage house. The bulk of the estate is in this account and is suppose to go to two of the five heirs. Three of the heirs are not named on the transfer therefore will not receive any of this account but everyone will receive an equal share of the remaining estate.

The will was executed 5 years before the TOD and the executor (attorney not an heir) has filed a lawsuit to stop the transfer claiming the signature on the document is a fraud. He did not notify any of the heirs and none of the heirs are challanging this, does he have a right to stop this transfer? He did this 5 months after he filed for probate. He now is informing me I will not get anything if the TOD is honored and that I should get an attorney if I "wanted my share". I am not in it for the money and just don't want attorney's to get an unfair portion of the estate funds after my grandfather's hard work.

It seems he is out to get a % of the estate in probate. He wrote the will but did not know about the TOD. He is claiming this is not the way the deseased wanted the division to take place since he helped him prepare the initial will. He told me point blank, " If the funds are not included in the estate there won't be enough to pay for the expenses." I asked him what expenses there were and he would not answer. He also will not provide an accounting of his fees to date.

I would like to have him removed as executor and possibly go against the bond he posted.

I am out of state and think I should secure an attorney to his him removed and report him to the Illinois Bar. Thank you

 

[ALawyer]

As executor it one's role to gather the estate's assets, and maximize the assets, and then distribute the assets per the Will. That's reasonable, and it is also reasonable to expect to be paid for those services.

There is a significant issue as to whether the brokerage firm's Transfer on Death form meets the requirements of the deceased's state for a Will or Will substitute. And that is a real legal issue, as such forms in essence wipe out requirements that states have created in the legal structures designed tke sure that property goes to the heirs at law determined by the Legislature, or if there is a Will that meets state requirements and was duly witnessed, the beneficiaries named in the Will.