Generally, the executor cannot distribute any assets until the court issues a decree appointing the executor and issues letters testamentary. Letters testamentary are certificates that state that the executor has the power to liquidate the testator’s assets. In New York State, an executor is personally liable for any claims made by a creditor of the estate if the claim is made within seven months of the executor being appointed and the executor distributed the assets of the estate to the beneficiaries. Therefore, the best course of action is for an executor to liquidate the testator’s assets into an estate account and hold them there until the seven month period lapses. During this time, the executor can pay legitimate creditors and debts of the estate.