N.Y. SCP Law § 720

§ 720. Effect and contents of decree suspending, modifying or revoking\n letters or removing a lifetime trustee or suspending or\n modifying his powers\n Upon the entry of a decree made as prescribed in this act, removing a\nfiduciary or suspending, modifying or revoking his letters issued to a\nfiduciary, his powers are suspended, modified or cease, as the case may\nbe. The decree may require him to account for all money and other\nproperty received by him and to pay over and deliver all money and other\nproperty in his hands, to the court or to his successor or to such other\nperson as is authorized by law to receive it, or it may be made without\nprejudice to an action or special proceeding for that purpose then\npending or thereafter to be brought. The removal suspension,\nmodification or revocation does not affect the validity of any act\nwithin the powers of the fiduciary done by him before his removal or the\nsuspension, modification or revocation of his letters or the service of\nprocess, where the other party acted in good faith, or done after the\nservice of process and before entry of the decree where his powers with\nrespect thereto were not suspended or modified by service of process or\nwhere the court in a case prescribed by law, permitted him to do the\nsame, notwithstanding the pendency of the special proceeding against him\nand he is not liable for such an act done by him in good faith.\n Where an executor or administrator is also a testamentary trustee of\nthe same estate, a decree revoking his letters as executor or\nadministrator does not affect his power or authority as testamentary\ntrustee, except in the case specially prescribed for that purpose in\n1505.\n