N.Y. Comp. Codes R. & Regs. tit. 22 § 207.52

Current through Register Vol. 46, No. 41, October 9, 2024

Section 207.52 - Accounting of an attorney-fiduciary

(a) Within 12 months from the issuance of letters, or 24 months if the estate must file a Federal estate tax return, if a sole executor or administrator administering an estate is also an attorney admitted in this State, and he or she or the law firm with which the attorney is affiliated is acting as counsel for the estate, the attorney-fiduciary shall file an affidavit setting forth:

(1) the total commissions paid or to be paid to him or her; and

(2) the total attorney's fees paid or to be paid (by court order, if required) to him or her or to the law firm with which he or she is affiliated, for services rendered to the estate.

(b) The court may extend the time for filing the affidavit upon good cause shown to the court in writing.

(c) The court in its discretion may require additional information or documentation from the attorney-fiduciary, including an affidavit of legal services, a cash flow statement and a full accounting pursuant to SCPA 2205.

(d) In the event the affidavit is not so filed, the court may suspend the letters until the affidavit has been filed. Failure to file the affidavit may constitute grounds for disallowance of commissions or legal fees.

(e) Except as otherwise provided by SCPA 2111(1) and (2), or SCPA 2310 or 2311, an attorney-fiduciary as defined in subdivision (a) of this section (or the law firm with which he or she is affiliated) shall not take advances for legal services rendered to the estate, or commissions on account of compensation, until 30 days after filing the affidavit required by subdivision (a) of this section.

(f) The provisions of this section also shall apply to each cofiduciary administering an estate who is an attorney admitted in this State if:

(1) he or she or the law firm with which the attorney is affiliated is acting as counsel for the estate; and

(2) there is no other cofiduciary who is not an attorney.

N.Y. Comp. Codes R. & Regs. Tit. 22 § 207.52