{"jurisdiction": "us-ny", "code": "scpa", "section": "725", "citation": "SCPA § 725", "heading": "Rules relating to estate valuation after letters The chief administrator of the courts shall promulgate rules to insure that, after lette...", "text": ["§ 725. Rules relating to estate valuation after letters", "The chief administrator of the courts shall promulgate rules to insure that, after letters have been granted to a fiduciary and the fee based on the initial value of the estate has been paid, the court is notified of the actual value of the estate as subsequently shown by a tax return filed under article twenty-six of the tax law, by a proceeding under such article, by any proceeding in surrogate's court involving such estate, or by the filing with the court of such other papers or documents as such rules shall prescribe."], "official_source": "https://www.nysenate.gov/legislation/laws/SCP/725", "from_official_api": true, "plain_english": "The chief administrator of the courts must **make rules ensuring that Surrogate’s Court learns the estate’s actual value after letters issue and the initial value-based fee is paid**. ★ The later value may appear in an Article 26 tax return or proceeding, another Surrogate’s Court matter, or documents the rules require.", "in_force_on": "2026-05-31", "retrieved": "2026-09-27", "url": "https://elyphived.com/us-ny/scpa/725", "publisher": "Elyphived LLC"}