By a fiduciary other than a guardian or trustee,
Terms Used In N.Y. Surrogate's Court Procedure Law 2208
- Decedent: A deceased person.
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Trustee: A person or institution holding and administering property in trust.
(a) Where the time for presentation of claims as fixed by a published notice has expired or 7 months have expired since letters were issued to the original fiduciary.
(b) Where his letters have been revoked.
(c) Where the court at any time within 6 months after the issuance of letters to the original fiduciary entertains an application by the fiduciary for the judicial settlement of his account and it appears from the petition or account that a disposition of the decedent‘s real property will be necessary for any of the purposes specified in 1902.
Where his account has not been judicially settled within 1 year preceding the application therefor and the application is entertained.
2. By a guardian,
(a) Where a petition for a compulsory judicial settlement of his account may be presented by any other person.
Where he has expended all of the estate of the infant and the court deems it proper that he should be discharged.
3. By a trustee,
(a) Where one or more distinct and separate trusts created by the will or lifetime trust instrument have been or are ready to be executed.
Where his account has not been judicially settled within 1 year preceding the application therefor and the court entertains the application.