In an accounting proceeding the burden falls on the fiduciary to justify all expenditures. Incomplete records will damage the credibility of the fiduciary on all issues in any litigation. The executor, administrator or trustee should keep a separate checking account for the estate or trust, make all deposits into this account and make all payments from the account. The checkbook register should be maintained on a current and detailed basis. Failure to Timely Administer the Estate .
Some estates take years of continuous effort to settle.
For others, delays are caused by fiduciaries who ignore their responsibilities, or even fail to make distributions out of hostility towards the beneficiaries. The Court will usually not require an executor or administrator to do an accounting until a year has elapsed, and dollar amount bequests will only accrue interest after one year. Failure to File Income Tax Returns . If the matter goes to litigation, opposing counsel may obtain a order from the Probate Part instructing the fiduciary to promptly file the tax returns, and to be personally responsible for any penalties and interest. This will quickly put the fiduciary on the defensive.