The Statute of Limitations under NY law provides a 3-year time limit on settling an Estate within New York.
A New York Estate is Not a Legal Entity and Cannot Be Sued. After the death of an individual, the usual course is to proceed to have a fiduciary appointed to represent the decedent's estate.
In New York, creditors have a maximum of seven months to file claims against an estate. If you have questions related to this aspect of estate administration, Jules Haas is a seasoned New York City estate litigation attorney who may be able to assist you.
Liability when an executor makes a mistake Unfortunately, a genuine mistake can sometimes snowball into a much bigger and often expensive problem that can be very complicated to resolve. The executor of an estate can be held personally liable for a mistake that results in a loss to the estate.