Surrogate Rita Mella
Beneficiary Cole moved for additional accountings by trustee Glicksman in this Surrogate's Court Procedure Act §2205 suit. His petition was based on the theory that after the sole beneficiary of a trust, Axelrad, died, the other beneficiary, Glicksman, "stonewalled" Cole in his requests for information. The court noted according to the account's supplemental schedules, a formerly sizeable UBS account was wholly depleted by the time Axelrad died. It stated Cole's motion for an accounting by Glicksman did not have the requisite support of a petition explaining who the interested parties would be in the settlement of such accounting or that gave adequate notice to respondent that such relief was sought. Also, the court noted where the trust terminated, substantial distributions were made and the account for the trust filed, removal of Glicksman would serve no purpose. However, Cole's contention regarding a bank account maintained by a limited partnership (LP) in which the trust had a 99.5 percent interest, and in which Glicksman was a general partner, had merit. Glicksman was directed to supplement her accounting by filing bank statements issued for the account maintained by the LP with an explanation of withdrawals.
