The duty to marshal estate assets is a fundamental responsibility of a fiduciary. When an asset belonging to an estate is, or may be, in the possession of a third party, who either refuses to relinquish the asset, or who may have information as to its whereabouts, proceedings for the recovery, or discovery, of the asset may be utilized by the fiduciary to fulfill this task. Bringing to bear such issues as the validity of a gift, conversion, and the statute of limitations, discovery proceedings provide the topic of instruction for this month’s column.
Recovery From Debtor
In In re Estate of Cain, the Surrogate’s Court, New York County (Mella, S.) was confronted with a petition, pursuant to SCPA §2103, seeking the turnover of $105,945 from the decedent’s granddaughter. Although served with citation, the granddaughter failed to answer the petition. Accordingly, the court proceeded to an inquest in order to determine whether the record supported the relief requested.
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