STATE OF NEW YORK
SURROGALES’S COURT ; COUNTY OF SUFFOLK
_ ~X
Probate Proceeding, Ne
Will of Nicholas Psaroudis "APEIDAVIT OF DELAY
File # 2045 P 2003
Deceased.
STATE OF NEW YORK }
COUNTY OF SUFFOLK, Js.
The undersigned, being duly swom, deposes and says
J, dam the attorney and named executor for the Estate of Nicholas Psarondlis
. That this affidavit is submitted in support of a Probate Petition being submitted by the
undersigned in my capacity as named executor for the probate of the wall of Nichotas Psaroudis,
wh died en April 3, 2001.
3, The delay in probating the will was primarily the result of the combination of fi) the
imtial belief that all assets owned by Mr. Psaroudis at Ihe time of his death were in fact held in
the Nichoias Psuroudis Revocable Living Trust thereby climinating the need to probate the will,
{Gi) an ongome dispute between two beneficiaries under Mr, Psaroudis’ Trust, namely Ms. Mim
Paladino and Mary Ann Hennen, 1s to right to the value of certain jewelry (approximate value of
$20,000) left in Mr. Pseroudis's home at the time of his death and, indeed. the propriety of the
transfer of the home of Mr. Psaroudis to May Ana Hennen (approximate value of $455,000), the
registered nurse giving primary care to Mr. Psaroucls in his home at the time of his death, (ii)
the discovery of the pwo bank accounts in Mr. Psaroudis’s name after Mr. Psaroudis’ death
necessitating the probate of the will and (iv) my own hesitancy as Trustev and named Executor to
{ile the probate petition before | knew if there was to be a challenge to the transfer of the assets of
Mr. Psaroudis’ estate,
4. Since the date of Mr. Psaroudis' death, Ms, Paladino has from time to time indicated a
desire to challenge the terms of the Nicholas Psauuiliy Revocable Living Trust and the
decedent's Will, which provide for the transfer of the Mr. Psaroudis” home to Ms. Mary Ann
Hennen, Mr. Psaroudis’ nurse at the time of his death, In addition to the home, Ms. Hennen has
insisted that approximately $20,000.00 worth of jewelry located in the home at the time of Mr
Psaroudis’ death should also be transferred to Ms. Hennen as constituting “contents of the
home". Ms. Paladino has objected io that interpretation of the Trust, as well,
5. Inan attempt to resotve this potential dispute between Ms, Paladino and Ms, Hennen, 1
hhave encouraged Ms. Hennen fo obiain counsel for over two years. To datc, to my kuowledye,
Ms. Hennen has not retained counsel to represent her in this matter. J have been contacted byfour separate attorneys who have made an initiat inquiry on Ms. Hennen’s behalf, but
understand that all have declined to represent her in this matter.
5. Ms. Paladino did retain counsel some time ago and I have been working with him to
attempt to resolve this matter by reaching an agreement between Ms. Paladino and Ms, Hennen
and my seif'as Trustee and named Executor. me
6, Inaddition, during this time, I had been in contact with the Now York State Attomey
General's office to inquire as 10 whether they would have any objections, as representatives of
the named charities in the Trust, to the transfer of the home and/or jewelry, I uve been informed
that the NYS Attomey Generat’s ollice has no objection.
7. Unfortunately, Ms. Hennen’s irrational behavior fiom time (o time has caused me to
be hesitant to resolve this matter by an informal agreement, which would have included the
delivery of rnutual releases by Ms. Paiadino and Ms. Hennen te each other and myself/as a
fiduczary, without Ms, Hennen being represented by counsel. Ms. Hemen’s behavior following
Mz. Psaroudis’s death has caused me come (o be concerned that she is incapable of fully
appreciating the ramifications of an informal accounting agreement which would include mutual
releases. She has continwally threatened to bring a lawsuit agaiust nie, die Auoniney General of
the State of New York and the United States Attorney General, but has refused to obtain counsel
to tesolve this matter. She has gone so far as to file a complaint with the Sulfolk County Police
Department alleging that at he time [ collected the jewelry from the home in my eapaeity as
named executor and trustee for safe keeping and to have the same appraised. that Fin fact had
stolen the jewelry trom the home.
8. On Oclober 30, 2003, after attempts to come 10 an informal accounting agreement
(outside of Court) had failed, Ms. Paladino’s attorney, informed me that while Ms. Paladino has
not decided at this time to formally challenge the transfer of the home andor jeweley. she did
want a formal Court supervised accounting of the estate’s assets. After learning of Ms
Paladino’s position, | filed the probate petition approximately one week later to start the process
to seoure the Court's guidance in this matter.
9. With the exception of her 30% share of the two bank accounts yet to be liquidated and
the value of the jewelry which is the subject of the probate proceeding, Ms, Paladino has received
her entire share of the assets due to har under the Trost (less a nonainal reserve) which | have
coordinated through her counsel. In addition, all specific bequests, with the exception of one
510,000 bequest «o a couple in England and the delivery of certain dog paintings to certain
individuals, have been distributed to the named beneficiaries pursuant to the terms of the Trust.
The residual estate will be distributed to the various charities named in the Trust immediately
following the liquidation of the remaining assets from the twe bunk accounts which are the
subject of the present probate proceeding. Upon the resolution of the who is entitled to the value
of the jewelry anticipated (o be resolved in the current proceeding, this asset will be distributed as
well, Ms. Flennen has in fact been permitted to remain and five in the house from the time of Mr.
Page 2 of 3Psaroudis” death, thus enjoying the benefits of her bequest as well. I de not believe there has
been any prejudice relating to the time elapsed between Mr. Psuroudis* Ueath and de filing of the
Probate Petition.
10, Prior to and following Mr. Psaronidis’s death, T have never agreed to be a named
executor of trustee in any client’s will or trust. It was enly because Mr. Psaroudis had no living,
relatives and ins long-standing relationship with wy law partner, John L. Walsh, and 1 that T
reluctantly agreed to act in this fideeiary capacity. | admit that my added role as fiduciary has
caused me 0 be extremely cautions in this matter and less aggressive in pushing lor a final
decision from the parties involved. [was desirous of resolving this matter by virtue of an
informal accounting and mutual ayzeement and releases, without having to resort (o the Surrogate
Court's intervention. Hence { hesitated in filing the probate petition iu the hepe of being able to
reach such an informal agreement and avoid the expense of filing a formal accounting with the
Court, thus leaving more assets to distribute to the charities. [t now has become abundantly elear
Thar we are ut ws Lupasse and the Surrogaie’s assistance will be necessary tn vesolve the
differences.
Swom before me this 3rd day of /
December, 2003,
Notary Public
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