Duties of an Executor in New York: A Step‑by‑Step Guide to Estate Administration
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Duties of Executor At a Glance (Featured Snippet‑Ready Answer)
An executor (a/k/a personal representative) is the court‑appointed fiduciary who administers a decedent’s estate: locate and secure assets; petition to probate the Will; notify and pay valid creditors; file required tax returns; manage, invest, or sell estate property; account to beneficiaries and the Surrogate’s Court; and distribute remaining assets in accordance with the Will and New York law. If you’ve been named executor, act promptly, keep excellent records, and get legal guidance. RK Law PC can help.
Why This Matters
Serving as an executor is an honor—and a legal job with personal liability exposure. New York’s Surrogate’s Courts expect fiduciaries to follow strict procedures under the Surrogate’s Court Procedure Act (SCPA), the Estates, Powers & Trusts Law (EPTL), court rules, and tax laws. Missing deadlines, commingling funds, or ignoring beneficiary communications can trigger litigation, surcharge, or even removal. This guide from RK Law PC walks you through the major duties, timelines, common pitfalls, and practical tips for doing the job right.
Quick Reference Checklist: 15 Core Duties of Executor in New York
Use this high‑level list as a working roadmap. Each item is explained in detail below.
- Locate the Will & Prior Estate Planning Documents.
- Engage Counsel; Consider Bonding Requirements.
- Prepare & File Probate Petition (SCPA Art. 14).
- Serve Citation / Obtain Jurisdiction Over Interested Parties.
- Receive Letters Testamentary (Formal Authority Begins).
- Secure & Marshal Estate Assets (EPTL 11‑1.1 powers).
- Open Estate Bank / Brokerage Accounts; No Commingling.
- Collect Income; Manage, Insure, and Protect Property.
- Identify, Verify & Pay Valid Debts & Claims (SCPA 1802‑1805).
- Handle Real Estate: Maintain, Rent, or Sell (SCPA 1902; EPTL powers).
- File Required Tax Returns (Estate, Income, Property Taxes).
- Address Spousal Right of Election & Other Elective Share Issues (EPTL 5‑1.1‑A).
- Maintain Detailed Books & Records; Inventory Filing (22 NYCRR 207.20).
- Distribute Estate per Will (subject to reserves) & Obtain Receipts/Releases.
- Account—Informal or Judicial (SCPA Arts. 19, 22; SCPA 2211 examinations).
Key Legal Framework for Duties of Executor in New York
Below are the primary legal touchpoints that shape an executor’s obligations. (Citations are for orientation; consult counsel for application.)
| Topic | Controlling Authority | Notes |
|---|---|---|
| Probate of Will | SCPA Art. 14 (e.g., §§ 1401‑1408) | Filing, proving the Will, jurisdiction over distributees & beneficiaries. |
| Fiduciary Powers | EPTL 11‑1.1; 11‑2.3 (Prudent Investor Act) | Collect, sell, invest estate assets; standard of prudence. |
| Creditor Claims | SCPA 1802‑1805 | Presentation, allowance, rejection of claims; limitations periods. |
| Compelling Delivery of Assets | SCPA 2103/2104 Turnover | Discovery/recovery of estate property held by others. |
| Accounting | SCPA 2208 et seq.; 2211 (examination) | Formal (judicial) vs. informal accountings; discharge and commissions. |
| Executor Commissions | SCPA 2307 | Statutory sliding‑scale compensation; may be modified by Will. |
| Spousal Right of Election | EPTL 5‑1.1‑A | 6 months from issuance of letters (but no later than 2 years from death) to elect. |
| Digital Assets Access | EPTL Art. 13‑A (RUFADAA) | Procedures to access decedent’s digital accounts. |
Step 1: Locate the Original Will & Estate Planning Documents
The Surrogate’s Court requires the original executed Will to grant probate (copy probate is possible but harder). Gather any Codicils, prior Wills, and ancillary documents (lists of assets, trust agreements, beneficiary designations). Confirm whether the decedent owned out‑of‑state real property that may require ancillary probate in another jurisdiction. Secure these documents immediately to prevent loss or tampering.
Practice Tip: If you cannot find the original but know the attorney‑draftsperson, contact that office; many New York firms store signed Wills in vaults. When an original Will last known in the decedent’s possession cannot be located, a presumption of revocation may arise—get counsel involved early.
Step 2: Engage Counsel & Address Bonding
Most executors—especially in NYC metro estates—benefit from engaging experienced Surrogate’s Court counsel. A Will may waive bond; if not, the Court can require a fiduciary bond to protect beneficiaries against misconduct. Even if waived, obtaining a bond may be prudent when the estate holds significant liquid assets or when family dynamics are strained.
Local Nuance: Some New York counties routinely dispense with bond for nominated executors who are also sole beneficiaries; others do not. RK Law can advise based on county‑specific practice.
Step 3: Commence the Probate Proceeding (SCPA Art. 14)
Core Filings
- Probate Petition (official SCPA form) identifying decedent, date/place of death, family tree (distributees), nominated executor(s), estimated asset values.
- Original Will + any Codicils.
- Certified death certificate.
- Waivers & Consents or Citations for distributees (those who would inherit in intestacy) and sometimes other interested parties.
- Family tree affidavits when needed.
Jurisdiction Over Parties
New York requires jurisdiction over distributees—surviving spouse, children, parents, siblings, etc., depending on family constellation—even if they are not named in the Will. Those who sign Waiver & Consent forms avoid a court appearance; otherwise a Citation is issued and served.
Preliminary Letters Testamentary
If estate business cannot wait for full probate (e.g., urgent asset protection, payroll, rent collection), you may seek Preliminary Letters Testamentary (SCPA 1412) to obtain limited authority sooner.
Step 4: Receive Letters Testamentary – Your Formal Authority Begins
Once the Surrogate admits the Will to probate, it issues Letters Testamentary. This court document proves your legal authority to act on behalf of the estate. Banks, brokerages, insurers, and transfer agents will request certified copies. Order multiple certified copies up front; you’ll need them.
Good Practice: Track where each certified copy is sent and request its return when possible.
Step 5: Marshal & Safeguard Estate Assets
Your first fiduciary obligation after receiving Letters is to locate, collect, and secure all estate property. This includes:
- Bank and brokerage accounts.
- Retirement accounts payable to estate (if no named beneficiary).
- Tangible personal property (jewelry, art, vehicles, household contents).
- Real estate (primary residence, co‑op shares, investment property, out‑of‑state parcels).
- Life insurance payable to estate.
- Business interests (LLC membership, partnership shares, closely‑held stock).
- Digital assets: email, cloud drives, crypto wallets, social media, intellectual property royalties.
EPTL 11‑1.1 grants fiduciaries broad powers to take possession, sell, manage, and invest—but these powers can be expanded or restricted by the Will. Always review the governing instrument.
Insurance Alert: Maintain or obtain property & liability insurance immediately, especially for vacant real property.
Step 6: Open Estate Accounts & Avoid Commingling
Establish a dedicated Estate checking account titled “Estate of [Decedent], Regina Kiperman, Executor” (example) using an Estate EIN obtained from the IRS. Deposit all estate cash there. Never commingle estate funds with your personal accounts. Use this account to pay estate expenses and track every transaction.
Accounting Hygiene Tips:
- Retain original bank statements.
- Use basic accounting software or a spreadsheet ledger categorized by date, payee, purpose, and supporting invoice.
- Scan receipts; cloud‑backup.
Step 7: Duties of Executor Ongoing Estate Administration & Asset Management
Executors must prudently manage estate assets pending distribution. Key tasks:
- Collect Income: Rent, dividends, interest, royalties.
- Pay Ordinary Expenses: Utilities, insurance, storage, maintenance.
- Invest Surplus Cash Prudently: Follow New York’s Prudent Investor Act (EPTL 11‑2.3) unless the Will directs otherwise.
- Vote Proxies / Manage Business Interests: Preserve going‑concern value; consider hiring interim management.
When to Sell: Estates sometimes liquidate illiquid assets to pay taxes, debts, or equalize distributions. Review Will language—some Wills direct retention of a residence for a spouse or minor child.
Step 8: Creditor Notification, Review & Payment (SCPA 1802‑1805)
Executors must identify and address valid debts:
- Known Creditors: Medical providers, credit cards, utilities, long‑term care facilities, lenders. Send notice of your appointment and request itemized statements.
- Publication: New York does not require the same formal creditor publication regime as some states, but publication may still be advisable in certain contexts; county practice varies.
- Presentment & Review: Creditors typically submit affidavits of claim. You may allow (pay) or reject a claim. Rejected claims can lead to litigation.
- Priority: Administrative expenses (funeral, probate costs) generally come ahead of general unsecured claims; secured creditors have collateral rights.
Medical Assistance (Medicaid) Estate Recovery: The NYS Department of Health may assert claims for certain Medicaid benefits paid; evaluate early.
Step 9: Tax Compliance (Estate, Fiduciary Income & Property Taxes)
Tax filings depend on estate size and income.
Estate Tax
- Federal Form 706 due 9 months from date of death (extendable) if gross estate + adjusted taxable gifts exceed the federal exemption (indexed; confirm current figure at time of filing).
- New York State Estate Tax (Form ET‑706) also due 9 months; New York’s exemption and “estate tax cliff” require careful planning—an estate just over the threshold can lose the entire exclusion.
- Consider Portability election for federal exemption if survived by spouse (requires timely Form 706, even if not otherwise taxable).
Fiduciary Income Tax
File annual Form 1041 (federal) and IT‑205 (NY) for income earned during administration.
Withholding & Estimated Payments
If selling real estate, address transfer taxes and nonresident withholding if applicable.
Engage a CPA experienced in estate and trust taxation; coordination with counsel prevents missed elections.
Step 10: Spousal Right of Election (EPTL 5‑1.1‑A)
A surviving spouse disinherited or under‑provided in the Will may elect against the Will to take the greater of $50,000 or one‑third of the net estate (augmented by certain testamentary substitutes: Totten trusts, joint accounts, payable‑on‑death designations, etc.).
Deadlines: The election must be made within 6 months of issuance of Letters Testamentary but no later than 2 years from date of death. Courts may extend in limited circumstances.
Executor Action Items:
- Notify the surviving spouse (or their counsel) of issuance of Letters.
- Inventory testamentary substitutes to calculate elective share exposure.
- Reserve funds until the election period lapses or dispute resolved.
Step 11: Inventory, Recordkeeping & Court Reporting
Inventory of Assets (22 NYCRR 207.20)
Within 6 months after Letters issue (or as the Court directs), many New York counties require an Inventory of Assets filing stating the gross value of probate assets by category. Failure to file can delay commissions or closing the estate.
Books & Records
Maintain ledgers, receipts, appraisals, correspondence logs, real estate management reports, and investment statements. Good records reduce the cost and friction of your eventual accounting.
Valuations & Appraisals
Obtain date‑of‑death appraisals for real property, business interests, art/collectibles—needed for tax returns, basis reporting to beneficiaries (IRC § 1014), and equitable distribution.
Step 12: Distributions—Interim & Final
Before distributing, confirm:
- All known debts, taxes, and administrative expenses are paid or adequately reserved.
- Elective share window has closed (or spouse has waived/elected and amounts reserved).
- Beneficiaries have provided tax forms (W‑9) and any required releases.
Specific Bequests
Distribute as directed—items of property, cash legacies—subject to abatement rules if cash shortfalls.
Residuary Shares
Calculate percentage or fractional shares after expenses and specific bequests. Use date‑of‑distribution valuations or as the Will directs.
In‑Kind vs. Cash
You may distribute assets in kind if the Will permits or beneficiaries consent. Document agreed valuations to avoid later disputes.
Receipts & Releases: Obtain signed Receipt, Release, and Refunding Agreement from each beneficiary acknowledging payment and indemnifying the estate against later creditor claims (common NY practice).
Step 13: Accounting & Discharge of Executor
Executors do not automatically “age out” of liability; they remain exposed until beneficiaries sign releases or the Court judicially settles their account.
Informal Accounting
Often prepared in spreadsheet or narrative format and circulated with receipts/releases. Faster and cheaper when all parties cooperate.
Judicial Accounting (SCPA Arts. 19 & 22)
Filed with the Surrogate when:
- Beneficiaries demand a formal review.
- Minors, incapacitated, unknown, or unborn beneficiaries require representation (guardian ad litem).
- There are disputes over transactions, commissions, or construction of Will provisions.
SCPA 2211 Examination: Beneficiaries may examine the fiduciary and financial institutions under oath regarding the account.
Final Decree: A court order settling the account discharges the executor (except for fraud or undisclosed assets) and fixes commissions.
Fiduciary Standards: What “Good Faith” Really Means
Executors are held to the “prudent person” and duty of loyalty standards. Core principles:
- Act Solely in the Estate’s Interest. Self‑dealing invites surcharge.
- Treat Beneficiaries Impartially. Don’t favor yourself if you’re also a beneficiary.
- Document Decisions. A paper trail shows prudence.
- Seek Court Instruction When Unsure. Petition for guidance rather than guess.
Violations can result in surcharge (personal monetary liability), interest charges (CPLR 5001/5002 in litigation contexts), reduction or denial of commissions, or removal (SCPA 711 & 719).
Special Situations You May Encounter as Part Of Your Duties of Executor
1. Missing or Non‑Cooperative Beneficiaries
Use due‑diligence searches; Court may appoint a guardian ad litem or public administrator support.
2. Will Contests & Objections to Probate
If distributees allege lack of capacity, undue influence, improper execution, or fraud, the probate becomes litigated. Discovery pursuant to SCPA 1404 permits pre‑objection examination of the attorney‑draftsperson and attesting witnesses.
3. Unknown or Contested Assets / Turnover Proceedings
When someone else possesses estate property (e.g., joint accounts, transferred gifts, cryptocurrency keys), the executor (or a fiduciary) can commence SCPA 2103 discovery and, if warranted, SCPA 2104 turnover to recover assets.
4. Insolvent Estates
Prioritize expenses; negotiate creditor settlements; obtain Court approval for pro rata distributions.
5. Family Business Interests
Consider operating agreements, buy‑sell provisions, or need for temporary management.
6. Real Property in Co‑Ops & Condos
Board consent, flip taxes, and arrears are common NYC wrinkles; maintain carrying charges to avoid lien or foreclosure.
7. Digital & Crypto Assets
Follow provider‑specific procedures under EPTL Art. 13‑A; protect seed phrases and 2FA devices.
Timeline for Duties of Executor: Typical New York Estate Administration Milestones
Actual timing varies by county and complexity.
| Time From Death | Milestone | Notes |
| 0‑2 months | Locate Will, hire counsel, gather asset info, file probate petition. | Urgent asset protection may require Preliminary Letters. |
| 2‑6 months | Letters Testamentary issued; marshal assets; open estate accounts; start creditor review. | Order appraisals; secure insurance. |
| Within 6 months of Letters | File Inventory of Assets (where required). | 22 NYCRR 207.20. |
| By 9 months of death | Estate tax returns due (federal/NY) if required; request extension if needed. | Coordinate valuations. |
| 6 months after Letters (outer 2 years) | Spousal right of election deadline. | EPTL 5‑1.1‑A. |
| 12‑18 months | Most routine estates ready for distributions & informal accounting. | Complex estates longer. |
| Closing | Receipts/releases or judicial decree; commissions paid; close estate accounts. | Retain records. |
Executor Compensation (SCPA 2307)
New York provides a graduated commission structure based on the value of estate property received and paid out. (Roughly: 5% of first $100k; 4% next $200k; 3% next $700k; 2.5% next $4M; 2% over $5M.)
Nuances:
- Percentages apply to principal received & paid, not income (income commissions separate in some cases).
- Co‑executors share commissions; allocation can be agreed or fixed by Court.
- A Will may increase, decrease, or waive commissions; if the drafting attorney is named executor, special disclosure rules (SCPA 2307‑a) apply to ensure the testator acknowledged the potential commission.
Practical Risk‑Reduction Tips for Executors
✔ Communicate Early & Often. Regular status updates reduce suspicion.
✔ Centralize Documents. Use secure shared folders for statements & receipts.
✔ Track Time & Expenses. Reimbursable if reasonable and documented.
✔ Keep Real Property Safe. Change locks; winterize; maintain insurance.
✔ Don’t Distribute Too Soon. Hold back reserves for taxes, fees, disputes.
✔ Use Written Consents. Document beneficiary agreements on sales, valuations, advances.
✔ Engage Professionals. CPA, appraisers, real estate brokers, financial advisers, art experts.
✔ Calendar Deadlines. Probate milestones, tax due dates, elective share period.
When to Call RK Law PC
You do not have to do this alone. RK Law PC guides executors through every phase of New York estate administration—from the initial probate petition through final accounting and distribution. We routinely handle:
- Complex multi‑property NYC estates (co‑ops, condos, brownstones).
- Disputed joint accounts and beneficiary designations.
- Turnover proceedings (SCPA 2103/2104).
- Executor litigation, surcharge defense, and removal petitions.
- Tax‑sensitive high‑net‑worth estates and elective share calculations.
- Estates with international or out‑of‑state assets requiring ancillary proceedings.
Duties of Executor Frequently Asked Questions (FAQ)
An executor is the fiduciary named in a Will and formally appointed by the Surrogate’s Court (via Letters Testamentary) to administer the estate.
Although you should safeguard assets immediately, your legal authority begins when the Court issues Letters Testamentary (or Preliminary Letters if granted sooner).
No. You can renounce before appointment. After appointment, resignation requires Court approval (SCPA 711, 715), and a successor or administrator c.t.a. may be appointed.
Yes. Statutory commissions are available under SCPA 2307 unless waived or altered by the Will.
Straightforward estates in cooperative counties may move from petition to Letters in 2‑4 months; contested estates or complex assets can take much longer.
Beneficiaries can demand information, object to transactions, or compel a judicial accounting. Courts can surcharge, reduce commissions, or remove a fiduciary for misconduct.
The estate may be insolvent. Executors must follow statutory priority for payment and may seek Court guidance before making distributions.
Even modest estates can present legal traps (title issues, Medicaid claims, tax elections). A short consult can prevent costly mistakes.
Additional resources provided by the author
For more information, please contact NYC Probate Litigation, Guardianship, Probate, and Estate Planning attorney Regina Kiperman:
Phone: 917-261-4514
Fax: 929-556-2089
Email: rkiperman@rklawny.com
Or visit her at:
40 Wall Street
Suite 2508
New York, NY 10005
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