Former Judge C. Raymond Radigan, left, and Tara Mahon, right, of Ruskin Moscou Faltischek. Courtesy photos Personal Liability of a Fiduciary for Claims Against an Estate
A fiduciary of an estate must carefully balance his or her responsibilities to creditors of the decedent and to beneficiaries of the estate. A fiduciary "must act in good faith in the treatment of both" creditors and beneficiaries.
July 03, 2024 at 10:00 AM
5 minute read
Trusts and Estates
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).
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