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Asked in NY May 19, 2022 ,  0 answers
I am trustee of a trust...the nominated executor has not gotten her testamentary yet. Who is responsible for the tangible property
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Anonymous
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Posted on / Aug. 15, 2014 17:52:00

Was the tangible property transferred to the trust while the decedent was alive? If so then you're responsible. Otherwise, New York Estates, Powers and Trusts Law (EPTL) section 11-1.3 says that prior to obtaining Letters Testamentary, a nominated executor has no authority except to pay funeral expenses and take other actions to preserve the estate.

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