N.Y. SCP Law § 2204

§ 2204. Judicial settlement where recovery has been had in negligence\n action\n 1. Where a judgment or compromise of a cause of action has been\nobtained and the proceeds are ready to be paid over and where the\nrecovery is not an asset of the decedent's estate but goes by special\nprovision of law to designated persons or classes of persons, the\nfiduciary may at any time file a petition for the judicial settlement of\nhis account relating to the proceeds and upon the return of process or\nupon the waiver of all persons interested, if adult and competent, the\ncourt may take and settle his account and direct payment to the parties\nentitled according to their respective rights and interests and upon\nfiling receipts for the payments the party paying the money and the\nfiduciary shall be discharged from all further liability as to such\ncause of action and the proceeds.\n 2. Where such recovery has been had and the amount thereof paid to\nthe fiduciary, he may in like manner have a judicial settlement of his\naccount relating to such proceeds at any time and a decree made\ndischarging him from all further liability concerning it.\n