When someone passes away in New York, their estate, meaning all the assets and debts in their name, must go through the probate process. During this process, the court will name an executor, who is responsible for overseeing the distribution of estate assets in accordance with the will or New York state law. Because this role is so important, understanding the role and responsibilities of an executor before you name one is critical. It is in your best interest to reach out to our firm today to discuss this process with a skilled New York estate planning attorney.

What Is an Executor in New York

In the state of New York, an executor has the authority to handle and distribute your estate in the event of your passing. In most cases, if you are building your estate plan, you will need to select an executor. Once the New York Surrogate’s Court (the entity responsible for overseeing the probate process) issues Letters Testamentary, the executor will then have the legal authority to act on behalf of the estate.

Executor vs. Administrator

During the estate planning process, you may hear the terms “estate executor” or “estate administrator” used. It’s imperative to understand that, though these individuals have the same responsibilities, the appointment process differs greatly. In New York:

  • An executor is named in a valid will by the testator (the decedent)
  • An administrator is appointed by the court if there is no valid will, or the named executor cannot assume the responsibility

What Are The Responsibilities Of An Executor?

Estate executors in Putnam County and across the Hudson Valley region have an important role in ensuring that the wishes of the deceased are honored after their passing. They are an integral part of the estate distribution process, and will oversee these matters from beginning to end.

Executor Responsibilities in New York

  • Locate and secure the original will
  • Initiate the probate process by filing a petition in the New York Surrogate’s Court
  • Identify and value all estate assets
  • Notify heirs, beneficiaries, creditors, and anyone with a vested interest in the estate
  • Pay all valid creditors
  • Maintain and protect estate property (upkeep, maintaining insurance, paying property taxes)
  • Track all income, expenses, and asset distributions
  • File required taxes (like final income tax or estate income tax)
  • Distribute remaining assets to beneficiaries and heirs in accordance with the will
  • Provide a final accounting to beneficiaries and the court

Fiduciary Duty: What It Means and Why It Matters

As you can see, there are a considerable number of important responsibilities that an estate executor in Putnam County must uphold. That is why executors, when they assume the role, also assume a fiduciary duty over the estate. This means they must:

  • Act in the best interests of the estate
  • Avoid self-dealing
  • Keep accurate records
  • Treat all beneficiaries fairly and equitably
  • Comply with court orders, rules, and deadlines

Common Examples of Fiduciary Mistakes

  • Distributing assets before paying outstanding debts or taxes
  • Using estate funds for personal gain
  • Withholding information from beneficiaries
  • Failure to keep or intentionally manipulating records

What Makes Someone a Good Executor?

Being the executor of an estate is generally considered an honor – it means that the testator trusted someone enough to carry out their final wishes. However, this job is not without its responsibilities, meaning that choosing an executor is generally one of the most difficult tasks of the estate planning process in New York.

Traits of a Strong Estate Executor

  • Trustworthy and responsible with money
  • Detail-oriented and organized
  • Ability to communicate calmly and effectively
  • Has the ability to handle tasks
  • Will remain healthy and available for the full duration of the probate process

What Happens if No One Wants to Be the Executor?

Sometimes, an individual who was once appointed as an executor decides that they are too overwhelmed with the tasks of handling an estate and all of the weight that it carries. In other instances, an individual might accept the role without really knowing what it involves and decide to back out. It’s important to understand that the New York Surrogate’s Court cannot and will not force someone to assume this role, even if they are named in the will as the testator’s first choice. If this occurs:

  • A nominated executor may formally decline the role
  • The court may appoint another eligible and appropriate party
  • A backup executor may be appointed if one is named

Common Scenarios in Which an Executor Refuses or Cannot Serve

  • The named executor now lives out of state
  • The job feels too complicated
  • Family conflict creates a risk
  • They have suffered health issues that prevent them from assuming the role
  • The executor believes the estate is insolvent

Can an Executor Be Removed in Putnam County?

In the event that an executor has breached their fiduciary duties, they may be removed or replaced. This process is not easy, as the court must have evidence of wrongdoing or failure to perform their expected duties before removing an estate executor.

Potential Reasons an Executor May Be Removed

  • Fraud or theft of assets
  • Refusal to follow court orders or rules
  • Failure to communicate with beneficiaries
  • Inaccurate recordkeeping
  • Mismanagement of estate assets
  • Conflict of interest

Contact Our Experienced New York Estate Planning Law Firm

If you are ready to create your estate plan, but you are worried about choosing the best individual to serve as your executor, working with an experienced attorney with the Law Offices of Andres D. Gil, PLLC, is in your best interest. Our team can not only help you create a comprehensive estate plan, but we can also help you review your executor options so you feel confident in your decision. Contact us today to learn how we can represent you.