Ilene Cooper

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While the removal of a fiduciary has long been the subject of Surrogate’s Court opinions, it is not often that the Appellate Division weighs in on the issue. However, in Matter of Epstein, the Second Department did just that, and issued an opinion that serves as an important guidepost for the kind of conduct that warrants removal. Ilene Cooper discusses the decision in our latest post. …
Continue Reading Appellate Division Addresses the Removal of a Fiduciary

The fiduciary who thinks a receipt and release is the answer to all future claims for an accounting and liability may have a surprise in store. Over the past several months, Surrogates have explored the issue of receipts and releases, and have provided insight into just how far they will go to “save the day.” The New York County Surrogate’s Court’s recent decision in Matter of Ingraham is a case in point. Ilene Cooper discusses the decision in our latest post.
Continue Reading Releases: End of the Road or Just a New Beginning?

Although one of the many duties of an executor is to marshal and appraise estate assets, and, depending on the terms of the governing instrument, liquidate them for purposes of distribution, the fulfillment of these duties may, at times, result in fiduciary liability. That was the case Matter of Billmyer, a recent decision emanating from the Second Department. Ilene Cooper discusses the decision in our latest entry.
Continue Reading Fiduciary Imprudence: When the Sale of an Asset Results in a Surcharge