The Law Offices Of Roman Aminov has been providing NYC residents with award winning estate fiduciary representation and guidance tailored to our clients needs.
Celebrated for extensive experience helping New York executors, administrators, trustees, and their families navigate the legal obligations and potential liabilities of fiduciary appointments, with hundreds of heartfelt client testimonials, Roman Aminov delivers thoughtful, individualized solutions to our clients' needs and wishes.
New York Fiduciary Duties Attorneys
Being named as a fiduciary in someone's estate is a significant responsibility, and in New York, it comes with real legal consequences if things go wrong. Whether you have been designated as an executor in a will, appointed as an administrator by Surrogate's Court for an intestate estate, or asked to serve as a trustee, you are stepping into a role that demands careful attention to deadlines, procedures, and legal requirements. At The Law Offices of Roman Aminov, we represent fiduciaries across Queens, Brooklyn, Manhattan, the Bronx, Staten Island, and throughout New York State, helping them understand their powers, fulfill their obligations, and avoid the personal liability that can result from missteps. We work in Surrogate's Court regularly and know the procedural details that can make or break an estate administration.
Who Qualifies as a Fiduciary in New York?
New York's Surrogate's Court Procedure Act defines the term "fiduciary" broadly under SCPA Section 103. The definition encompasses executors, administrators, trustees, and guardians, each carrying distinct legal authority depending on the circumstances of the estate. Before anyone can act in a fiduciary capacity, they must meet certain qualifications under SCPA Section 707. Qualified individuals must be legal adults, mentally competent, generally residing in the United States, and free from disqualifying factors such as certain felony convictions or impairments that would prevent them from executing their duties responsibly.
The court evaluates these qualifications during the appointment process, and challenges to a proposed fiduciary's fitness can create delays that leave estate assets unprotected. Having experienced counsel at this stage helps ensure a smooth appointment and avoids unnecessary litigation before the real work of administration even begins.
Executors and the Weight of Letters Testamentary
When someone leaves a valid will, the person named as executor must petition Surrogate's Court to have the will admitted to probate. Once the court issues Letters Testamentary, the executor gains legal authority over the estate and the clock starts ticking on a long list of obligations.
- Asset Identification and Protection Locating bank accounts, investment portfolios, real property, and personal valuables, then securing them against loss or waste.
- Debt and Expense Management Paying the decedent's outstanding obligations, funeral expenses, and ongoing costs of administration from estate funds.
- Tax Filing Obligations Preparing and filing the decedent's final income tax returns, fiduciary income tax returns for the estate, and any required estate tax returns at both the state and federal level.
- Accurate Accounting Maintaining detailed records of every receipt, disbursement, and decision. Beneficiaries and the court can demand a formal accounting at any time.
- Proper Distribution Distributing remaining assets strictly according to the will's terms, not according to what feels fair or what family members request informally.
These duties are not optional. An executor who commingles estate funds with personal money, delays tax filings, or distributes assets prematurely can face surcharge proceedings, denial of commissions, or removal from the role entirely.
Administrators of Intestate Estates
When someone dies without a will, the court appoints an administrator following the priority list established in SCPA Section 1001. Surviving spouses come first, followed by children, parents, siblings, and more distant relatives. The administrator receives Letters of Administration and carries out duties nearly identical to those of an executor, but with one fundamental constraint. All distributions must follow New York's intestate succession statute, EPTL Section 4-1.1, regardless of what the family believes the decedent would have wanted.
Contested administrator appointments are common, especially in blended families or situations where relationships were strained. We help clients secure appointments, respond to competing petitions, and resolve priority disputes so the estate can move forward without prolonged court battles.
Temporary and Preliminary Appointments
Not every estate can wait for the full probate or administration process. When urgent matters arise, such as a mortgage payment coming due, a business that needs immediate oversight, or a tax deadline that cannot be missed, the court can issue Preliminary Letters Testamentary or Temporary Letters of Administration. These appointments grant limited powers to address pressing needs while the formal process continues. However, a temporary fiduciary cannot distribute assets to beneficiaries until full letters are issued, and they must operate within the boundaries the court defines.
Fiduciary Compensation Under New York Law
New York recognizes that serving as a fiduciary demands real time and effort. SCPA Section 2307 establishes a statutory commission schedule for executors and administrators based on the value of estate assets collected and distributed. The percentages decrease as estate values increase, starting at five percent on the first $100,000 and stepping down from there. Trustees receive compensation under a separate framework in SCPA Section 2309, which includes both payout commissions and annual commissions on trust assets under management.
When multiple fiduciaries serve together, commission-splitting rules apply differently depending on the estate's total value. Disputes over fair allocation are not unusual, and they can add tension to an already complex process. We advise fiduciaries on what they are entitled to and help ensure the court approves their commissions without unnecessary objections.
What Happens When a Fiduciary Breaches Their Duty
Surrogate's Court has broad authority to hold fiduciaries accountable. Under SCPA Section 711, a fiduciary can be suspended or removed for misconduct, neglect of duty, or any conduct that jeopardizes estate assets. Beyond removal, fiduciaries who breach their obligations can be surcharged personally for losses the estate suffers as a result. SCPA Section 2102 also allows beneficiaries and other interested parties to petition the court to compel a fiduciary to take specific actions or to account for their handling of estate property.
Common grounds for breach claims include self-dealing, failure to invest estate assets prudently, unreasonable delays in administration, and failure to communicate with beneficiaries about the status of the estate. If you are facing a breach allegation, or if you believe a co-fiduciary or opposing fiduciary is failing in their obligations, acting quickly is essential.
How Aminov Law Supports Fiduciaries Across New York
From the moment of appointment through final distribution and accounting, the decisions a fiduciary makes carry legal weight. We help first-time executors who are overwhelmed by the process, experienced trustees navigating complex asset portfolios, and administrators dealing with contested appointments or difficult family dynamics. Our approach is hands-on, practical, and focused on getting the administration completed properly while protecting the fiduciary from personal exposure.
If you have been appointed or expect to be appointed as a fiduciary in a New York estate, contact The Law Offices of Roman Aminov today at (347) 766-2685 for a free phone consultation. We will help you understand exactly what the role requires, what protections you need, and how to fulfill your duties without putting yourself at risk.
