ESTATE OF JOSEPH LOMBARDO, Deceased

ESTATE OF JOSEPH LOMBARDO, Deceased (2010/287/D) ó In this intermediate accounting proceeding, petitioner, Nicole Katz ("Nicole"), is the sister of the decedent and the executrix of decedent's estate. Decedent's last will and testament dated August 21, 2009, was admitted to probate by this court by decree dated May 21, 2010, and letters testamentary and letters of trusteeship issued on that date to petitioner. Decedent's sole distributee is his son, Joseph R. Lombardo ("Joseph"), an infant over the age of fourteen years. Pursuant to the relevant provisions of decedent's will, decedent's entire residuary estate passes to his son, in trust, until Joseph attains the age of twenty-five years.

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ESTATE OF JOSEPH LOMBARDO, Deceased (2010/287/D) ó In this intermediate accounting proceeding, petitioner, Nicole Katz (“Nicole”), is the sister of the decedent and the executrix of decedent’s estate. Decedent’s last will and testament dated August 21, 2009, was admitted to probate by this court by decree dated May 21, 2010, and letters testamentary and letters of trusteeship issued on that date to petitioner. Decedent’s sole distributee is his son, Joseph R. Lombardo (“Joseph”), an infant over the age of fourteen years. Pursuant to the relevant provisions of decedent’s will, decedent’s entire residuary estate passes to his son, in trust, until Joseph attains the age of twenty-five years.

Decedent’s testamentary estate is relatively nominal; petitioner’s account, as amended, shows principal received of only $36,247.53. After deductions for funeral and administration expenses in the amount of $20,566.00 and creditors’ claims actually paid of $4,135.00, decedent’s net estate is only $11,546.53. This amount is subject to further reduction for statutory commissions payable to petitioner. In addition to these assets, decedent had a one-half interest as tenant in common with his ex-wife in what was once the marital residence, in which Joseph and his mother now reside. As it remains unsold, this realty was shown on Schedule J, Statement of Other Pertinent Facts, of the accounting with an estimated gross value of $137,500.00, but which is subject to a mortgage. As discussed more fully below, there does not appear to be any dispute regarding the assets of the estate or the expenses shown in the account as amended.

ESTATE OF JOSEPH LOMBARDO, Deceased

Share with Email

Thank you for sharing!

Trending Stories

More From ALM

Subscribe to New York Law Journal