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<p>[QUOTE="GoldFinger1969, post: 26586766, member: 73489"]Forensic accounting can be expensive; the beneficiaries on the estate I worked on had to sign a bond waiver that said they held the Executor harmless for any retroactive fees/taxes/liabilities that could pop out of nowhere. But they all got an INFORMAL accounting which you and your family should have gotten (I think all states require it for the beneficiaries; this was in New Jersey).</p><p><br /></p><p>Yes, it can be time consuming and expensive to contest a will or alledge fraud. <b>But if it is CLEAR FRAUD and not just a gray area that you detest went against you, you can go to the County Surrogate and file a complaint and initiate an action in the courts. </b></p><p><b><br /></b></p><p><b><span style="color: #0000ff">And here's the kicker:</span></b> if the STATE or FEDS were cheated out of $$$ because an Executor underpriced assets or cheated lawful beneficiaires....<b>you can use that as a hammer. </b> Then you are talking a felony crime and tax fraud -- and major jail time. <b><span style="color: #ff0000">I would be PETRIFIED if inheritance tax or estate tax or income tax (paid by the Estate) was a weapon that could be used against me </span></b>because the tax authorities do not screw around with that because of the money involved from other inheritances (a growing pot).</p><p><br /></p><p><b>A key issue: </b> was a law firm involved in advising/supervising the executor(s) ? If so, it makes a complaint or legal action much easier. The law firm shares liability for supervising the executor.[/QUOTE]</p><p><br /></p>
[QUOTE="GoldFinger1969, post: 26586766, member: 73489"]Forensic accounting can be expensive; the beneficiaries on the estate I worked on had to sign a bond waiver that said they held the Executor harmless for any retroactive fees/taxes/liabilities that could pop out of nowhere. But they all got an INFORMAL accounting which you and your family should have gotten (I think all states require it for the beneficiaries; this was in New Jersey). Yes, it can be time consuming and expensive to contest a will or alledge fraud. [B]But if it is CLEAR FRAUD and not just a gray area that you detest went against you, you can go to the County Surrogate and file a complaint and initiate an action in the courts. [COLOR=#0000ff]And here's the kicker:[/COLOR][/B] if the STATE or FEDS were cheated out of $$$ because an Executor underpriced assets or cheated lawful beneficiaires....[B]you can use that as a hammer. [/B] Then you are talking a felony crime and tax fraud -- and major jail time. [B][COLOR=#ff0000]I would be PETRIFIED if inheritance tax or estate tax or income tax (paid by the Estate) was a weapon that could be used against me [/COLOR][/B]because the tax authorities do not screw around with that because of the money involved from other inheritances (a growing pot). [B]A key issue: [/B] was a law firm involved in advising/supervising the executor(s) ? If so, it makes a complaint or legal action much easier. The law firm shares liability for supervising the executor.[/QUOTE]
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