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New York County, Surrogate's Court: November 5, 2018

New York County, Surrogate's Court:November 5, 2018

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Surrogate Anderson

WILL OF DAVID RAPPAPORT, Deceased (10-2371/I) ESTATE OF DAVID RAPPAPORT, Deceased (10-2371/F) — In this accounting proceeding, Michael Rappaport and Eleanor Burton (“petitioners”), two of the three co-executors of the above-captioned estate, move for: (i) the issuance of a final decree discharging them as executors, and (ii) an order directing Merrill Lynch to release $50,000 from the funds it is holding in an estate account in order to make a payment to decedent’s wife, Frances Rappaport (“Frances”), toward her elective share of the estate. The motion, which is unopposed, is granted in part and denied in part.To the extent petitioners seek an order directing Merrill Lynch to release $50,000 to movants, as executors, for payment to Frances, the court grants the motion. Merrill Lynch had refused petitioners’ requests to release the funds in view of the refusal of the third co-executor, Errol Rappaport (“Errol”), to consent to the payment to Frances, for whom an Article 81 guardian has been appointed. Petitioners’ filings demonstrate that Frances has a legitimate need for the funds and that there are sufficient assets in the estate from which to make partial payment towards her elective share.To the extent petitioners request that a final decree be issued in this accounting proceeding, their motion is denied. While it is true that Errol has not filed formal objections to petitioners’ account, a decree cannot be issued at this juncture. Errol filed an application to remove petitioners and surcharge them for allegedly improper actions as executors. Errol’s removal proceeding was consolidated with petitioners’ accounting, and there has yet to be a full adjudication of the issues raised by Errol’s application. The court cannot issue a decree approving petitioners’ actions as executors without an adjudication of such issues.Submit Order.Dated: November 2, 2018

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