In a dramatic case that pitted a sister against her very own brother, the Appellate Court of New York upheld a previous ruling by Surrogate's Court on May 17 to allow Mr. Neil Bender to be the rightful executor of the famed Gottlieb estate, according to The Villager. It will certainly be a huge win for Neil Bender's NY estate attorney; the Gottlieb estate, which includes a huge portfolio of lucrative Manhattan real estate, is worth an estimated $1 billion dollars.
According to the New York Observer, the family feud started when Neil Bender's sister Cheryl Dier and her son questioned Neil Bender's fitness to be executor of the vast estate. They both submitted items such as drunk driving convictions and IRS tax liens in order to support their claims that he was unfit to run the estate.
What Exactly Does An Executor Do?
An executor has the fiduciary duty to protect a deceased individual's assets until all taxes and debts have been paid on the estate, and then must ensure that the beneficiaries of the estate receive what is left from the estate.
In essence, an executor is in charge of settling a deceased person's affairs (or at least property).
What Does This Mean For Neil Bender?
This is a huge victory for Neil Bender because he has now cleared a major legal hurdle from developing properties that happen to be in the Gottlieb estate portfolio. Some of these properties are in New York hot spots such as the West Village and in the famed Meatpacking District.
Mr. Neil Bender's spokeswoman said in a statement that it was a key win for the estate itself: "Today's unanimous decision by the Appellate Court is an important victory for the estate of William Gottlieb."
Ms. Cheryl Dier could not be found for a comment.
While this is a case that involves a great deal of money, family disputes over executors do happen. It is always a good idea to consult with a NY probate lawyer if you have questions about an executor's role.
Related Resources:
- What Does an Executor Do? (FindLaw)
- FAQ for Executors (FindLaw)
- Meet With a NY Estate Attorney (FindLaw)
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