N.Y. Comp. Codes R. & Regs. tit. 22 § 207.42

Current through Register Vol. 46, No. 50, December 11, 2024

Section 207.42 - Report of estates not fully distributed

(a) Whenever the estate of a decedent has not been fully distributed or a final accounting filed with petition for settlement within two years from the date when the first permanent letters of administration or letters testamentary were issued where the gross taxable estate of such decedent does not require the filing of a Federal estate tax return, and within three years if a Federal estate tax return is required, the executor or administrator shall, at or before the end of the first complete month following the expiration of such time, file with the clerk of the court a statement in substantially the following form:

SURROGATE'S COURT Report pursuant to 22 NYCRR 207.42

............ COUNTY

Estate of ............, Deceased

File No. ............

Date of issuance of first permanent letters ............

Approximate amount of gross estate ............

Approximate amount that has been distributed to beneficiaries ............

Approximate amount remaining in fiduciary's hands at present ............

This estate has not yet been fully distributed for the following reason: (state briefly)

............

Date of this report ............

Fiduciary

Address: ____________

Phone: ____________

Attorney for above Fiduciary

Address: ____________

Phone: ____________

(b) The court shall thereupon take such steps as it deems appropriate to expedite the completion of the administration of the estate and the distribution of all assets.

(c) Failure to file such statement will be considered by the court on any application for commissions or legal fees, and may constitute a ground for disallowance of commissions or fees.

(d) The periods set forth in subdivision (a) of this section are not intended to set a standard time for completion of estate administration, but rather to fix a period after which inquiry may be made by the court.

(e) This section shall not limit the power of the court to direct an accounting at any time on its own initiative or on petition pursuant to SCPA 2205.

N.Y. Comp. Codes R. & Regs. Tit. 22 § 207.42