IN RE: Robert CAPONE a/k/a Robert S. Capone (1999)

In a proceeding to compel Edward L. Ford, as executor of the estate of Robert Capone, a/k/a Robert S. Capone to render an accounting, the executor appeals from an order of the Surrogate's Court, Rockland County (Weiner, S.), dated March 13, 1998, which granted the petition and directed him to file a formal judicial accounting with the court.

ORDERED that the order is affirmed, with costs.

In October 1996 after having received two interim accountings of the estate from the estate's attorney, the petitioner executed a release in favor of the executor in return for a partial distribution of his inheritance.   Over a year later, the petitioner sought to compel a formal judicial accounting and asserted that the release was invalid.   The Surrogate granted the petition.

 A release executed in the absence of bad faith, fraud, or duress, and with full knowledge of the estate's status, will generally be upheld as valid (see, Matter of Fechter, 25 Misc.2d 229, 205 N.Y.S.2d 384;  Matter of Amuso, 18 Misc.2d 936, 187 N.Y.S.2d 519;  Matter of Salomon's Will, 175 Misc. 264, 23 N.Y.S.2d 72).   In the instant case, although the petitioner received two separate interim accountings before signing the release, they were only brief summaries, failed to provide a complete picture of the estate, and significantly understated the estate's tax liability.   Since the record fails to show that the petitioner executed the release with full knowledge of the estate's status, the Surrogate properly invalidated the release and directed the executor to file a formal judicial accounting (see, Matter of Fechter, supra).

MEMORANDUM BY THE COURT.