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Most executors and administrators I meet in Forest Hills and Rego Park worry about one thing: creditors showing up after the estate is closed. That risk is real, and I have written elsewhere about fiduciary liability and creditor claims, but in my practice the fiduciaries who actually end up in Queens Surrogate’s Court defending themselves usually got there a different way. Here are the mistakes I see most often, and how to avoid them.
Treating Estate Property Like Your Own
The fastest way to expose yourself to a breach of fiduciary duty claim is self-dealing: selling estate property to yourself, a family member, or a business you control, without full disclosure to the beneficiaries and court approval where required. I have handled cases where a well-meaning executor in Rego Park listed a co-op with a broker who was also a relative, never disclosing the connection. Even when the price was fair, the appearance of self-dealing invited a fight. That is why I advise clients to get any transaction involving a related party reviewed and disclosed before it closes, not after a beneficiary raises questions.
Commingling Estate and Personal Funds
Depositing estate money into a personal account, even briefly, is one of the clearest ways to trigger personal liability. Beneficiaries and the Surrogate’s Court read commingling as a red flag for mismanagement, whether or not any money actually went missing. Every fiduciary I work with in Forest Hills opens a dedicated estate account before touching a single asset.
Ignoring the Duty to Account
New York fiduciaries owe beneficiaries a full and accurate accounting of estate assets, income, and expenses. Executors who keep loose records, or who assume an informal spreadsheet will satisfy a skeptical beneficiary, often find themselves compelled to file a formal judicial accounting instead, which is slower and more expensive. That is why I advise keeping detailed, contemporaneous records from day one, not reconstructing them under pressure later.
Delaying Without Explanation
Beneficiaries in Kew Gardens and beyond tend to assume the worst when an estate drags on with no communication. Unreasonable delay, paired with silence, is one of the most common triggers for a removal petition, even when the fiduciary has done nothing improper.
Fiduciary liability extends well beyond the seven-month window creditors have to present claims, and the two risks often overlap on the same estate.
If your loved one named you executor and you are unsure whether your handling of the estate could expose you to liability, contact Roman Aminov today for a free phone consultation.
Contributed by Dan Rose, a local business writer specializing in Estate Administration services in New York City.
Roman Aminov Estate Law firm of Queens
147-17 Union Tpke, Kew Gardens Hills, NY 11367, United States
P59P+93 Kew Gardens Hills, Queens, NY, USA
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