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In re Estate of Willis

A corporation alleging only potential injury was not entitled to a compelled accounting from the decedent's estate executors.

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New Falls Corporation “New Falls” appeals the probate court’s denial of its petition to require the executors of the estate of Isaac Willis to file an inventory and returns pursuant to OCGA § § 53-7-33 and 53-7-69. New Falls argues that the probate court erred by denying this petition because it made an adequate showing of injury, such that the probate court should require the filing of an inventory by the estate. For the reasons set forth infra , we affirm the probate court’s denial of New Falls’s petition. The record shows that prior to the death of Isaac Willis, New Falls filed suit in the State Court of Fulton County in March 2005 to collect on promissory notes issued to Willis by Wachovia Bank, which were later assigned to New Falls. The original principal amounts of the promissory notes, issued in 2001 and 2002, were $300,000; $150,000; and $500,000, respectively. After Willis allegedly defaulted on these notes, New Falls filed suit to recover the principal amount owed on each note, plus interest and attorney fees.

Willis died on August 7, 2007, while the litigation on the promissory notes was still pending. His sons, who were the named executors of his estate, petitioned to have their father’s will probated in solemn form. The will, dated November 29, 1999, included a provision relieving the estate’s executors from the duty “to make or file any reports, annual or other returns, or inventory, inventories or appraisals . . . to any court.”

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