Distributions in NY

[jgcaruso]

What is the name of your state? New York
Hi there,
I am the administrator of my father's estate (he died intestate). I have an attorney who has represented me well, but I do have one question. My father passed away a year ago, and in that time I have paid all debts (except for my fee and my lawyer's fees), and have collected a considerable amount of money in the bank. Recently, we just made tremendous progress on the final, much more major transaction that has been in escrow for one month (it involved the sale of a business that my father owned). To date, I have made one distribution ($3,000 to myself, and $3,000 to my stepmother, the only other heir). I asked my attorney if, given our progress, I could make another small distribution each ($2500 for me and equal for her), as I am in a doctoral program and struggling. Deducting that 5000 would still leave more-than-adequate amount in the bank, not even considering the other transaction, for my attorney's fees and my administration fee.
My attorney told me not to write this distribution.
1- Can he tell me not to do this, or am I entitled to?
2- Is it atypical to make more than one distribution (i.e. wait til the estate is closed?) It doesn't seem to be, from what I've read.
Any information would be greatly appreciated. Thank you in advance,
JennWhat is the name of your state?

 

[seniorjudge]

What is the name of your state? New York
Hi there,
I am the administrator of my father's estate (he died intestate). I have an attorney who has represented me well, but I do have one question. My father passed away a year ago, and in that time I have paid all debts (except for my fee and my lawyer's fees), and have collected a considerable amount of money in the bank. Recently, we just made tremendous progress on the final, much more major transaction that has been in escrow for one month (it involved the sale of a business that my father owned). To date, I have made one distribution ($3,000 to myself, and $3,000 to my stepmother, the only other heir). I asked my attorney if, given our progress, I could make another small distribution each ($2500 for me and equal for her), as I am in a doctoral program and struggling. Deducting that 5000 would still leave more-than-adequate amount in the bank, not even considering the other transaction, for my attorney's fees and my administration fee.
My attorney told me not to write this distribution.
1- Can he tell me not to do this, or am I entitled to?
2- Is it atypical to make more than one distribution (i.e. wait til the estate is closed?) It doesn't seem to be, from what I've read.
Any information would be greatly appreciated. Thank you in advance,
JennWhat is the name of your state?

1- Can he tell me not to do this, or am I entitled to?
A: I would certainly like to know the reasons your lawyer is against this.


2- Is it atypical to make more than one distribution (i.e. wait til the estate is closed?) It doesn't seem to be, from what I've read.
A: There is no such thing as a "typical" probate case.

 

[jgcaruso]

Thank you very much for your response, Seniorjudge.
I have not once gone against the advice of my attorney, or done something that he hasn't agreed with, as I certainly know what I don't know, and probate law is it!
However, I am completely inclined to write the distributions, despite his objection, as I feel it's unreasonable, and- he was unable to give me a reason not to do it.
As administrator, would I be breaking any sort of law by writing these distributions?

 

[Dandy Don]

It is considered highly improper to do so, although I do admit it seems unfair, because it appears to be "raiding" the estate. What reason did your attorney give for not wanting you to do this?

It would be much smarter for you or your relative to get a loan from a credit union or apply for a loan from the same bank that is holding the estate account--you could present a certified copy of your letters testamentary to prove you are administrator and the loan department could check the estate account balance to see that you will eventually have enough money to repay the loan.

You need to be asking the attorney approximately how long it will be before the heirs are paid, because probate matters in New York take an inordinately lengthy amount of time to conclude because there are so many estates to be handled.

DANDY DON IN OKLAHOMA ([email protected])