Trust and Estate Litigation
Trust and estate litigation routinely requires the specialized skills of a credentialed forensic accountant. Oftentimes, a matter involving a trust or estate can involve transactions that may have occurred years, if not decades, ago. Gettry Marcus applies advanced investigative skills in working with attorneys representing Executors, Administrators, Trustees, and Beneficiaries in the pre-litigation stage of the controversy, as well as disputes before the Surrogate’s Court.
We maintain active roles in many professional organizations in our disciplines, and contribute articles to nationally recognized peer reviewed journals and publications. We have attained the highest level of credentials within our profession and serve as national instructors and lecturers to various professional groups, including state CPA organizations, on various business valuation and forensic accounting topics.
Gettry Marcus’ professionals have extensive experience in the following assignments:
- Business valuation
- Expert witness reporting and testimony
- Federal and state estate tax filings
- Federal and state gift tax filings
- Federal and state trust income tax filings
- Investigative services
- Surrogate Court mandated Judicial Accounting
- Trust and estate litigation
Trust and Estate Litigation Case Studies
On behalf of certain beneficiaries of a decedent’s estate, Gettry Marcus was engaged to perform investigative procedures related to operating and real estate entities owned by the estate and the decedent’s son. Our clients were convinced that the son had stolen assets from the operating entities. In addition, each operating entity was located on real estate that was owned by 13 different family partnerships managed by the son. During the estate proceedings, the son unilaterally decided to sell the properties valued at approximately $90 million.
It was necessary for Gettry Marcus to perform a detailed investigative analysis of the accounting records to determine if there were any improper transactions. While analyzing the operating entities’ accounting records, we identified assets that were misappropriated by the son.
In addition, we reviewed the management and partnership agreements of the real estate entities to verify the accuracy of the management fees and distributions of the sales proceeds to each of the family partners. Our investigation disclosed that the son had overpaid himself $500,000 in management fees prior to the sale of the properties, and that he received sales proceeds of $1 million in excess of his rightful ownership percentage. Our findings resulted in the estate’s beneficiaries receiving a favorable settlement from the family member.