It is a general rule of law that death ends any trade or business in which the decedent was the sole owner (see e.g., Willis v. Sharp, 113 N.Y. 586, 21 N.E. 705 [1889]; Matter of Glass’ Estate, 134 Misc. 291, 235 N.Y.S. 299 [1929]; Matter of Ferrante’s Estate, 190 Misc. 788, 74 N.Y.S.2d 778 [1947]; see also SCPA § 2108). A fiduciary does not have automatic authority under EPTL §11-1.1 to continue a business of a decedent, incur obligations and thus render the estate liable (see EPTL §11-1.1; Willis v. Sharp, 113 N.Y. 586, 21 N.E. 705 [1889]).

However, courts have stated that a fiduciary has an inherent authority to temporarily continue a business for the limited exceptions of converting business assets to cash for the benefit of the estate (see Willis v. Sharp, 113 N.Y. 586, 21 N.E. 705 [1889]) or “obtaining the best possible sale or disposition of the business” (see In re Ridosh’s Estate, 5 A.D.2d 67, 169 N.Y.S.2d 54 [3d Dep't 1957], decree modified on other grounds, 7 A.D.2d 534, 185 N.Y.S.2d 80 [3d Dep't 1959]).