N.Y. Estates, Powers & Trusts Law § 11-1.5: Payment of testamentary dispositions or distributive shares

§ 11-1.5 Payment of testamentary dispositions or distributive shares

(a) Subject to his or her duty to retain sufficient assets to pay

administration and reasonable funeral expenses, debts of the decedent

and all taxes for which the estate is liable, a personal representative

may, but, except as directed by will or court decree or order, shall not

be required to, pay any testamentary disposition or distributive share

before the completion of the publication of notice to creditors or, if

no such notice is published, before the expiration of seven months from

the time letters testamentary or of administration are granted, or, if

notice of the availability of genetic material of the decedent has been

given under section 4-1.3, before the birth of a genetic child who is

entitled to inherit from the decedent under section 4-1.3.

(b) Whenever a disposition is directed by will to be paid in advance

of such publication of notice or the expiration of such seven month

period or the birth of a genetic child entitled to inherit from the

decedent under section 4-1.3, the personal representative may require a

bond, conditioned as follows:

(1) That if debts of the decedent appear, and the assets of the estate

are insufficient to pay them or to pay other testamentary dispositions

entitled, under section 13-1.3, to payment equally with or prior to that

of the disposition paid in advance, the beneficiary to whom advance

payment was made will refund it, or the value thereof, together with

interest thereon and any costs incurred by reason of such payment, or

such ratable portion thereof, as is necessary to pay such debts or to

satisfy the rights, if any, of other beneficiaries under the will.

(2) That if the will, under which the disposition was paid, is denied

probate, on appeal or otherwise, such beneficiary will refund the entire

advance payment, together with interest and costs as described in

subparagraph (1), to the personal representative entitled thereto.

(c) If, after the expiration of seven months from the time letters are

granted or the birth of a genetic child entitled to inherit from the

decedent under section 4-1.3, as the case may be, the personal

representative refuses upon demand to pay a disposition or distributive

share, the person entitled thereto may maintain an appropriate action or

proceeding against such representative. But, for the purpose of

computing the time limited for its commencement, the cause of action

does not accrue until the personal representative's account is

judicially settled.