Fiduciary: A person or organization legally entrusted with the power and obligation to act honestly and in good faith on behalf of an individual in the exercise personal and/or property rights on that individual's behalf (i.e., executor, administrator, guardian or trustee).
Disclaimer: These codes may not be the most recent version. I make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to any other site. Please check official sources.
New York Surrogate's Court Procedures Act
§707 Eligibility To Receive Letters
Letters may issue to a natural person or to a person authorized by law to be a fiduciary except as follows:
1. Persons ineligible
(a) an infant
(b) an incompetent
(c) a non-domiciliary alien except one who is a foreign guardian as provided in subdivision four of section one thousand seven hundred sixteen of this chapter, or one who shall serve with one or more co-fiduciaries, at least one of whom is resident in this state. Any appointment of a non-domiciliary alien fiduciary or a New York resident fiduciary hereunder shall be made by the court in its discretion
(d) a felon
(e) one who does not possess the qualifications required of a fiduciary by reason of substance abuse, dishonesty, improvidence, want of understanding, or who is otherwise unfit for the execution of the office.
2. Persons ineligible in court's discretion. The court may declare ineligible to act as fiduciary a person unable to read and write the English language.
Disclaimer: These codes may not be the most recent version. I make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to any other site. Please check official sources.
§707 Eligibility To Receive Letters
Letters may issue to a natural person or to a person authorized by law to be a fiduciary except as follows:
1. Persons ineligible
(a) an infant
(b) an incompetent
(c) a non-domiciliary alien except one who is a foreign guardian as provided in subdivision four of section one thousand seven hundred sixteen of this chapter, or one who shall serve with one or more co-fiduciaries, at least one of whom is resident in this state. Any appointment of a non-domiciliary alien fiduciary or a New York resident fiduciary hereunder shall be made by the court in its discretion
(d) a felon
(e) one who does not possess the qualifications required of a fiduciary by reason of substance abuse, dishonesty, improvidence, want of understanding, or who is otherwise unfit for the execution of the office.
2. Persons ineligible in court's discretion. The court may declare ineligible to act as fiduciary a person unable to read and write the English language.
Disclaimer: These codes may not be the most recent version. I make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to any other site. Please check official sources.