New York City Accounting Proceedings Attorneys
Resolving Questions about the Management of a Trust or Estate
The administration of complex estates or trusts can require considerable understanding of financial management principles and investment strategies. It also requires an understanding of the directives of the person whose estate is involved or who established the trust, to ensure that the person's goals are met.
The role of an executor or trustee is complicated. It is reasonable for the beneficiaries of a trust or estate to be attentive to the financial management of the trust or estate and to want to hold the trustee or executor accountable for losses that appear to be related to mismanagement.
On the other hand, a trustee may have been rigorous in performing his or her fiduciary duties and, in a volatile investment market, suffer losses. A trustee may face charges of financial mismanagement when no mismanagement occurred.
The trust and estate litigation attorneys at GREENFIELD STEIN & SENIOR, LLP, have represented beneficiaries and trustees who have contested the management of a trust or estate in a trust accounting proceeding. Contact one of the attorneys in our midtown Manhattan law office to schedule a consultation to see how we can help you.
In an accounting proceeding, a trustee or executor will be called upon to prove that he or she has properly managed the business of an estate or trust. A beneficiary may claim that a trust lost money because of bad investment strategies, payment on claims that should not have been paid, or may argue that tax issues and consequences of tax elections have not been properly considered.
An accounting proceeding frequently examines many years of financial records and hundreds of pages of financial documents. Because of the scope and detailed nature of the work, accounting proceedings can be very expensive to litigate. It requires a trust and estate litigation lawyer with an in-depth understanding of trust and estate administration and who knows what information is important and what is not.
The trust and estate litigation attorneys at GREENFIELD STEIN & SENIOR, LLP, focus on the key issues in order to get results sooner than might be achieved by less knowledgeable lawyers. Our extensive experience in trust and estate administration and trust and estate litigation contributes to our effectiveness in accounting proceedings. Contact our New York City law office to discuss your accounting concerns.