Former Judge C. Raymond Radigan, left, and Tara Mahon, right, of Ruskin Moscou Faltischek. Courtesy photos
A fiduciary of an estate must carefully balance his or her responsibilities to creditors of the decedent and to beneficiaries of the estate. Matter of Weinberg, 162 Misc. 867 (Sur. Ct. Kings County 1937); see also SCPA §1802; EPTL § 12-1.2 (beneficiaries’ order of liability); SCPA §1811 (claimants’ priorities). A fiduciary “must act in good faith in the treatment of both” creditors and beneficiaries. Matter of Bailey, 147 Misc. 2d 46 (Sur. Ct. Bronx County 1990).
It is well established that administration expenses and funeral costs, within reason, take priority over all other claims. See SCPA §1811 (1).
