Articles Posted in Executor/Administrator

When a person prepares an Estate Plan and a Last Will and Testament one of the important decisions to be made concerns the selection of an Executor. A Last Will contains a provision in which the testator nominates an Executor. It is also important to nominate a successor or alternate Executor in case the primary nominee is unable to serve as a fiduciary. A Will may also contain a provision appointing testamentary trustees if the testator created a testamentary trust in the Will.

The person selected to act as the Executor can be anyone that the testator wants to be in charge of estate administration. The person selected is typically a family member or friend. There is no requirement that the Executor have any experience or expertise in handling estate matters or have any financial background. There is also no requirement that the Executor be living in New York. The fiduciary has the authority the obtain the services of professionals such as attorneys, accountants and investment advisors to help with the various tasks regarding settlement of the estate. Continue reading

One of the reasons for a person to engage in Estate Planning and to prepare a Last Will is to provide a nomination in the Will for Executors and Trustees. When a person dies intestate (no Will) the estate laws designate the persons entitled to act as administrator. The New York Probate Lawyer Blog has published many articles regarding estate planning and estate administration.

Surrogate’s Court Procedure Act (SCPA) Section 1001 entitled “Order of priority for granting letters of administration” provides the list of individuals (i.e., spouses, children) who have the priority to be appointed as the estate fiduciary.  In many instances, the individuals who have the statutory right to be appointed administrator may not have been the choice the decedent would have made. Continue reading

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