A client recently sat in my Manhattan office, the original copy of his mother’s will resting on the table between us. He had been named the executor. He was proud his mother trusted him, but also overwhelmed. His first question was simple and direct: “What am I actually allowed to do? Can I start paying her bills? Can I sell her car?”
This is the most common starting point for the families I represent. Being named an executor feels like an honor, and it is. But it is not an honorary title. It is a job—a legal role with significant authority and even greater responsibility. In New York, an executor is a fiduciary, held to the highest standard of care recognized by law. Your authority is granted not for your personal benefit, but to enable you to act as a prudent steward of the decedent’s final wishes.
The authority isn’t automatic. The will is just a nomination document. Your power truly begins when the Surrogate’s Court officially appoints you and issues what are called Letters Testamentary. This court order is the key—it’s the document you will show to banks, brokerages, and other institutions to prove you have the legal right to act on behalf of the estate.
The Core Powers of an Executor
Once you have Letters Testamentary, you have the authority to step into the decedent’s shoes and manage their financial affairs. This process is called “marshalling the assets.” Your primary right is to take control of all property that belongs to the estate. This includes:
- Accessing and securing bank and investment accounts.
- Collecting proceeds from life insurance policies where the estate is the beneficiary.
- Taking possession of tangible personal property, from jewelry to furniture to art.
- Managing, protecting, and, if necessary, selling real estate.
These powers are not just implied; many are explicitly codified. New York’s Estates, Powers and Trusts Law (EPTL) § 11-1.1 provides a long list of default powers granted to fiduciaries. This statute gives an executor the right to sell property, make repairs, invest assets, and even continue a business—all without having to seek court permission for every single action. This framework allows for the efficient administration of an estate.
However, this authority is not a blank check. Every action must be taken in the best interests of the beneficiaries and creditors. You cannot sell the family home to a friend for a steep discount, nor can you invest all the estate’s cash in a high-risk startup. Such actions would be a breach of your fiduciary duty and could expose you to personal liability.
Rights That Support the Executor’s Role
Beyond the power to manage assets, an executor has several other fundamental rights designed to help them perform their duties. These are not about personal enrichment but about facilitating the proper stewardship of the estate.
The Right to Information
As executor, you have the legal standing to demand information from anyone holding the decedent’s assets or records. Financial institutions that would refuse to speak with a family member must provide you with full account details. You can access medical records to verify claims, get copies of tax returns, and uncover any information necessary to paint a complete picture of the estate’s finances.
The Right to Hire Professionals
You are not expected to be an expert in law, accounting, and property appraisal. An executor has the absolute right to hire professionals to assist in the administration of the estate, and their reasonable fees are paid by the estate itself, not from the executor’s own pocket. I have never seen a complex estate settled without the help of an attorney and an accountant. It is a prudent and necessary part of the process. This right ensures you can get the guidance you need to avoid costly mistakes.
The Right to Compensation
Serving as an executor is often a time-consuming and stressful job. New York law recognizes this and grants executors the right to a commission for their services. These commissions are set by statute—specifically SCPA § 2307—and are calculated as a percentage of the value of the estate passing through the executor’s hands. It is a right you can choose to waive—many family members do—but it exists to compensate you for your considerable effort and legal responsibility.
The Limits of Authority
With every right comes a corresponding duty. Your right to control assets is tied to your duty to protect them. Your right to pay debts is linked to your duty to treat all creditors fairly. And your ultimate duty is to the beneficiaries named in the will.
This means keeping meticulous records of every dollar that comes in and every dollar that goes out. It means communicating transparently with beneficiaries about the status of the estate. And when the time comes, it means providing a full accounting of your actions for their review and approval.
The role of an executor is a temporary but powerful one. It is the final act of service one can perform for a loved one—a structured, legally defined process of putting their affairs in order. It is a role that demands diligence and a steady hand.
If you have been named as an executor and are preparing to petition the Surrogate’s Court, the first step is to get organized. We offer a complimentary Executor’s Preliminary Checklist to help you identify and gather the essential documents you will need to begin the process with clarity.
