This text of New York § 718 (Nominated fiduciaries in war service 1) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§ 718. Nominated fiduciaries in war service\n 1. Whenever a person nominated in a will or lifetime trust instrument\nas executor, guardian or trustee is engaged in war service as defined in\nthe preceding section and is unable to qualify as fiduciary because of\nsuch service, his failure to so qualify shall not be deemed a final\nrenunciation but a temporary one which shall become final 6 months after\nsuch nominated fiduciary ceases to be engaged in war service. If the\nwill or lifetime trust instrument does not name a co-fiduciary or\nsuccessor fiduciary or if the co-fiduciary or successor fiduciary is\nunwilling or unable to act and the failure of the nominated fiduciary in\nwar service to qualify leaves no person acting as fiduciary or will\nleave the sole beneficiary of a trust as
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§ 718. Nominated fiduciaries in war service\n 1. Whenever a person nominated in a will or lifetime trust instrument\nas executor, guardian or trustee is engaged in war service as defined in\nthe preceding section and is unable to qualify as fiduciary because of\nsuch service, his failure to so qualify shall not be deemed a final\nrenunciation but a temporary one which shall become final 6 months after\nsuch nominated fiduciary ceases to be engaged in war service. If the\nwill or lifetime trust instrument does not name a co-fiduciary or\nsuccessor fiduciary or if the co-fiduciary or successor fiduciary is\nunwilling or unable to act and the failure of the nominated fiduciary in\nwar service to qualify leaves no person acting as fiduciary or will\nleave the sole beneficiary of a trust as the only active trustee\nthereof, any person interested may file a petition praying for the\nappointment of a successor to the nominated fiduciary in war service.\nNotice of the application shall be given to the persons and in the\nmanner directed by the court. Within 6 months from the date the\nnominated fiduciary ceases to be engaged in war service, and if any of\nthe duties of his office remain unexecuted, he may file a petition\npraying that he be appointed executor, guardian or trustee, as the case\nmay be, in accordance with the terms of the will or lifetime trust\ninstrument. Notice of the application shall be given to the persons and\nin the manner directed by the court. The court may grant the\napplication and direct the issuance of letters to or appoint the\npetitioner jointly with the fiduciary acting or may remove or revoke the\nletters of the successor appointed to take the place of the nominated\nfiduciary or may make such other order or decree as justice requires.\nThe removal and revocation of the letters of the original successor to\nthe nominated fiduciary shall not bar the successor from subsequently\nqualifying as fiduciary if for any reason thereafter it becomes\nnecessary that a fiduciary be appointed.\n 2. The commissions of a successor appointed under this section shall\nbe computed in accordance with the provisions of 2307, 2308 or 2309,\nwhichever section is applicable to the fiduciary, except that where the\nsuccessor is removed or his letters revoked he shall not be entitled to\ncommissions for paying or delivering the estate to the nominated\nfiduciary upon his qualification.\n