New York Laws
EPT - Estates, Powers and Trusts

2-1.2 - Issue to Take per Capita, per Stirpes or by Representation - (a) Instruments executed prior to September first, nineteen hundred ninety-two....

2-1.3 - Adopted Children and Posthumous Children as Members of a Class - (a) Unless the creator expresses a contrary intention, a disposition...

2-1.4 - Words of Inheritance Unnecessary - The word "heirs" or words of inheritance of like import...

2-1.5 - Advancements and Their Adjustment - (a) An advancement is an irrevocable gift intended by the...

2-1.6 - Disposition of Property Where a Person Dies Within One Hundred Twenty Hours of Another Person or Any Other Event. - (a) Except as provided in paragraph (b) of this section:...

2-1.7 - Presumption of Death From Absence; Effect of Exposure to Specific Peril. - (a) A person who is absent for a continuous period...

2-1.8 - Apportionment of Federal and State Estate or Other Death Taxes; Fiduciary to Collect Taxes From Property Taxed and Transferees Thereof - (a) Whenever it appears in any appropriate action or proceeding...

2-1.9 - Distributions in Kind by Executors and Trustees - (a) (1) As used in this section, the terms "pecuniary...

2-1.10 - Provisions Relating to Infants and Minors - (a) Unless the creator expressly provides to the contrary, in...

2-1.11 - Renunciation of Property Interests - (a) A renunciation made in compliance with the provisions of...

2-1.12 - Credit Shelter Formula Bequests - (b) by reason of the death of the decedent property...

2-1.13 - Certain Formula Clauses to Be Construed to Refer to the Federal Estate and Generation-Skipping Transfer Tax Laws Applicable to Estates of Decedents Dying After December Thirty-First, Two Thousand Nine and Before January First, Two Thousand E... - (a)(1) If by reason of the death of a decedent...

2-1.14 - Right to Rcover State Estate and Gift Taxes Where Decedents Retained Interest - (a)(1) If any part of the gross tax estate on...

2-1.15 - Consequences of Partly Ineffective Dispositions of Trust Principal to Two or More Beneficiaries - Whenever the remainder of a lifetime or testamentary trust passes,...

Article 3 - Substantive Law of Wills

Part 1 - Who May Make and Receive Testamentary Dispositions of Property; What Property May Be Disposed of by Will

3-1.1 - Who May Make Wills Of, and Exercise Testamentary Powers of Appointment Over Property - appointment over property Every person eighteen years of age or...

3-1.2 - What Property May Be Disposed of by Will - Every estate in property may be devised or bequeathed.

3-1.3 - Who May Receive Testamentary Dispositions of Property; Testamentary Dispositions to Unincorporated Associations - (a) A testamentary disposition of property may be made to...

Part 2 - Execution of Wills

3-2.1 - Execution and Attestation of Wills; Formal Requirements - (a) Except for nuncupative and holographic wills authorized by 3-2.2,...

3-2.2 - Nuncupative and Holographic Wills - (a) For the purposes of this section, and as used...

Part 3 - Rules Governing Testamentary Dispositions

3-3.1 - What a Testamentary Disposition Includes - Unless the will provides otherwise, a disposition by the testator...

3-3.2 - Competence of Attesting Witness Who Is Beneficiary; Application to Nuncupative Will - (a) An attesting witness to a will to whom a...

3-3.3 - Disposition to Issue or Brothers or Sisters of Testator Not to Lapse; Application to Class Dispositions - (a) Unless the will whenever executed provides otherwise: (1) Instruments...

3-3.4 - Consequences of Partly Ineffective Testamentary Dispositions of Property to Two or More Residuary Beneficiaries - property to two or more residuary beneficiaries Whenever a testamentary...

3-3.5 - Conditions Qualifying Dispositions; Conditions Against Contest; Limitations Thereon - (a) A condition qualifying a disposition of property is operative...

3-3.6 - Encumbrances on Property of Decedent or on Proceeds of Insurance Policy on Life of Decedent Not Chargeable Against Assets of Decedent's Estate - (a) Where any property, subject, at the time of decedent's...

3-3.7 - Testamentary Disposition to Trustee Under, or in Accordance With Terms of Existing Inter Vivos Trust - (a) A testator may by will dispose of or appoint...

3-3.8 - Validity of a Purchase of Real Property Notwithstanding Its Disposition by Will - disposition by will The title of a purchaser of real...

3-3.9 - Testamentary Direction to Purchase Annuities - If a testator directs in his will the purchase of...

Part 4 - Revocation of Wills and Related Subjects

3-4.1 - Revocation of Wills; Effect on Codicils - (a) Except as otherwise provided in this chapter, a revocation...

3-4.2 - Agreement to Convey Property Previously Disposed of by Will Not a Revocation - a revocation An agreement made by a testator to convey...

3-4.3 - Revocatory Effect of a Conveyance, Settlement or Other Act Affecting Property Previously Disposed of by Will - affecting property previously disposed of by will A conveyance, settlement...

3-4.4 - Conveyance of Property of an Incompetent or Conservatee, Previously Disposed of Specifically by Will, Not Revocation or Ademption - previously disposed of specifically by will, not revocation or ademption...

3-4.5 - Insurance Proceeds From Specific Disposition Not Subject to Ademption - ademption Where insurance proceeds from property which was the subject...

3-4.6 - Revocation or Alteration of Later Will Not to Revive Prior Will or Any Provisions Thereof - (a) If after executing a will the testator executes a...

Part 5 - Rules Governing Wills Having Relation to Another Jurisdiction

3-5.1 - Formal Validity, Intrinsic Validity, Effect, Interpretation, Revocation or Alteration of Testamentary Dispositions Of, and Exercise of Testamentary Po - (a) As used in this section: (1) "Real property" means...

Article 4 - Descent and Distribution of an Intestate Estate

Part 1 - Rules Governing Intestate Succession

4-1.1 - Descent and Distribution of a Decedent's Estate - (a) If a decedent is survived by: (1) A spouse...

4-1.2 - Inheritance by Non-Marital Children - (a) For the purposes of this article: (1) A non-marital...

4-1.3 - Inheritance by Children Conceived After the Death of an Intended Parent. - (a) When used in this article, unless the context or...

4-1.4 - Disqualification of Parent to Take Intestate Share - (a) No distributive share in the estate of a deceased...

4-1.5 - Other Disqualifications - No estate property, whether passing by intestacy or otherwise, which...

4-1.6 - Disqualification of Joint Tenant in Certain Instances - Notwithstanding any other provision of law to the contrary, a...

Article 5 - Family Rights

Part 1 - Rights of Surviving Spouse

5-1.1 - Right of Election by Surviving Spouse - (a) Election by surviving spouse against will executed after August...

5-1.1-A - Right of Election by Surviving Spouse - (a) Where a decedent dies on or after September first,...

5-1.2 - Disqualification as Surviving Spouse - (a) A husband or wife is a surviving spouse within...

5-1.3 - Revocatory Effect of Marriage After Execution of Will - (a) If the testator leaves a will executed prior to...

5-1.4 - Revocatory Effect of Divorce, Annulment or Declaration of Nullity, or Dissolution of Marriage on Disposition, Appointment, Provision, or Nomination Re - (a) Except as provided by the express terms of a...

Part 3 - Rights of Family Unit

5-3.1 - Exemption for Benefit of Family - (a) If a person dies, leaving a surviving spouse or...

5-3.2 - Revocatory Effect of Birth of Child After Execution of Will - (a) Whenever a testator has a child born after the...

5-3.4 - Action in Supreme Court by Child Born After Execution of Will, by Surviving Spouse Upon Revocation of Will by Marriage or by Subscribing Witness With - by surviving spouse upon revocation of will by marriage or...

Part 4 - Rights of Members of Family Resulting From Wrongful Act, Neglect or Default Causing Death of Decedent

5-4.1 - Action by Personal Representative for Wrongful Act, Neglect or Default Causing Death of Decedent - default causing death of decedent 1. The personal representative, duly...

5-4.2 - Trial and Burden of Proof of Contributory Negligence - On the trial of an action accruing before September first,...

5-4.3 - Amount of Recovery - (a) The damages awarded to the plaintiff may be such...

5-4.4 - Distribution of Damages Recovered - (a) The damages, as prescribed by 5-4.3, whether recovered in...

5-4.5 - Non-Marital Children - For the purposes of this part, a non-marital child is...

5-4.6 - Application to Compromise Action - (a) Within sixty days of the application of an administrator...

Article 6 - Classification, Creation, Definition Of, and Rules Governing Estates in Property

Part 1 - Estates Classified as to Duration

6-1.1 - Estates Classified - (a) Estates in property as to duration are classified as...

6-1.2 - Estates Tail Abolished; Future Estates Limited Thereon - Estates tail have been abolished, and every estate which would...

6-1.3 - When Estate for Life of Third Person Is Real Property; When Personal Property - personal property A disposition of real property for the life...

Part 2 - Estates Classified as to Number of Persons

6-2.1 - Estates in Severalty, Joint Tenancy, Tenancy by the Entirety and in Common - (1) In severalty. (2) Joint tenancy. (3) Tenancy in common....

6-2.2 - When Estate Is in Common, in Joint Tenancy or by the Entirety - (a) A disposition of property to two or more persons...

Part 3 - Estates Classified as to Time of Enjoyment and Creation

6-3.1 - Estates in Possession and Future Estates - Estates in property, as to the time of their enjoyment,...

6-3.2 - Kinds of Future Estates - (a) Future estates are divided into: (1) Estates left in...

6-3.3 - Concerning the Creation of Certain Future Estates - (a) Subject to the provisions of article 9: (1) An...

6-3.4 - When Future Estates Are Created - A future estate is created when the disposition creating it...

Part 4 - Estates Defined

6-4.1 - Definition of an Estate in Possession - An estate in possession is an estate which entitles the...

6-4.2 - Definition of a Future Estate - A future estate is an estate limited to commence in...

6-4.3 - Definition of a Remainder - A remainder is a future estate, as defined in 6-4.2,...

6-4.4 - Definition of a Reversion - A reversion is the future estate, other than a possibility...

6-4.5 - Definition of a Possibility of Reverter - A possibility of reverter is the future estate left in...

6-4.6 - Definition of a Right of Reacquisition - A right of reacquisition is the future estate left in...

6-4.7 - Definition of a Future Estate Indefeasibly Vested - A future estate indefeasibly vested is an estate created in...

6-4.8 - Definition of a Future Estate Vested Subject to Open - A future estate vested subject to open is an estate...

6-4.9 - Definition of a Future Estate Vested Subject to Complete Defeasance - defeasance A future estate vested subject to complete defeasance is...

6-4.10 - Definition of a Future Estate Subject to a Condition Precedent - A future estate subject to a condition precedent is an...

Part 5 - Rules Governing Future Estates

6-5.1 - Characteristics of Future Estates - Future estates are descendible, devisable and alienable, in the same...

6-5.2 - Power of Appointment Not to Prevent Vesting - The existence of an unexecuted power of appointment does not...

6-5.3 - Future Estates in the Alternative - Two or more future estates may be created to take...

6-5.4 - Implication of Cross Remainders Between Tenants in Common - When a limitation, if contained in a will, would create...

6-5.5 - Future Estate Valid Though Contingency Improbable - A future estate, otherwise valid, shall not be void on...

6-5.6 - Meaning of Heirs, Distributees and Issue in Certain Remainders - When a remainder is limited to take effect on the...

6-5.7 - Posthumous Children - (a) Where a future estate is limited to children, distributees,...

6-5.8 - Heirs or Distributees of Life Tenant Take as Purchasers - When a remainder is limited to the heirs, heirs of...

6-5.9 - Heirs or Distributees of Creator Take as Purchasers - Where a remainder is limited to the heirs or distributees...

6-5.10 - When Future Estates Are Defeated - A future estate cannot be defeated or barred by any...

6-5.11 - Non-Destructibility of Remainders Subject to a Condition Precedent - precedent A remainder is not defeated by the determination of...

6-5.12 - Future Rents and Profits Subject to Rules Governing Future Estates - estates A disposition of the rents, profits or other income...

Part 6 - Disposition of Community Property Rights at Death

6-6.1 - Application - This part applies to the disposition at death by a...

6-6.2 - Rebuttable Presumptions - (a) Property acquired while domiciled in a jurisdiction under whose...

6-6.3 - Disposition Upon Death - Upon the death of a married person, one-half of the...

6-6.4 - Perfection of Title - (a) If the title to any property to which this...

6-6.5 - Purchaser for Value or Lender - (a) If a surviving spouse has apparent title to property...

6-6.6 - Effect and Construction of Part - This part does not effect rights of creditors nor prevent...

6-6.7 - Short Title - This part may be cited as "The New York uniform...

Article 7 - Trusts

Part 1 - Rules Governing Trusts

7-1.1 - When Trust Interests Not to Merge - A trust is not merged or invalid because a person,...

7-1.2 - Trustee of Passive Trust Not to Take - Every disposition of property shall be made directly to the...

7-1.3 - Purchase-Money Resulting Trust Abolished - (a) A disposition of property to one person for a...

7-1.4 - Purposes for Which Trust May Be Created - An express trust may be created for any lawful purpose.

7-1.5 - When Trust Interest Inalienable; Exception - (a) The interest of the beneficiary of any trust may...

7-1.6 - Application of Principal to Income Beneficiary - (a) Notwithstanding any contrary provision of law, the court having...

7-1.7 - Interest Remaining in Creator of Trust - Every legal estate and interest not embraced in an express...

7-1.8 - Duration of Trust for Benefit of Creditors - (a) Where an estate in real property has heretofore vested...

7-1.9 - Revocation of Trusts - (a) Upon the written consent, acknowledged or proved in the...

7-1.10 - Provision by Non-Domiciliary Creator as to Law to Govern Trust - (a) Whenever a person, not domiciled in this state, creates...

7-1.11 - Application of Principal to Creator of Trust as Reimbursement for Taxes - (a) Notwithstanding any contrary provision of law, the trustee of...

7-1.12 - Supplemental Needs Trusts Established for Persons With Severe and Chronic or Persistent Disabilities - (a) Definitions: When used in this section, unless otherwise expressly...

7-1.13 - Division of Trusts and Establishment of Separate Trusts - (a) Notwithstanding any contrary provision of law, unless expressly prohibited...

7-1.14 - Who May Make a Lifetime Trust - Any person, as defined in 1-2.12, may by lifetime trust...

7-1.15 - What Property May Be Disposed of by Lifetime Trust - Every estate in property may be disposed of by lifetime...

7-1.16 - Revocation of Lifetime Trust by Will - A lifetime trust shall be irrevocable unless it expressly provides...

7-1.17 - Execution, Amendment and Revocation of Lifetime Trusts - (a) Every lifetime trust shall be in writing and shall...

7-1.18 - Funding of Lifetime Trust - A lifetime trust shall be valid as to any assets...

7-1.19 - Application for Termination of Uneconomical Trust. - (a) Notwithstanding sections 7-1.5 and 7-2.4 of this article or...

Part 2 - Rules Governing Trustees

7-2.1 - Extent of Trustee's Estate - (a) Except as otherwise provided in this article, an express...

7-2.2 - When Estate of Trustee Ceases - When the purpose for which an express trust is created...

7-2.3 - Trust Estate Not to Descend on Death of Trustee; Appointment, Duties and Rights of Successor Trustee - (a) On the death of the sole surviving trustee of...

7-2.4 - Act of Trustee in Contravention of Trust - If the trust is expressed in the instrument creating the...

7-2.5 - Suspension of Powers of Trustee in War Service - (a) Whenever a trustee of an express trust is engaged...

7-2.6 - Resignation, Suspension or Removal of Trustee - (a) Subject to the relevant provisions of the civil practice...

7-2.7 - Accounting by Trustee in Supreme Court - (a) Any proceeding for an accounting or other relief brought...

7-2.8 - Commissions of Trustee to Sell Real Property for Benefit of Creditors - creditors A trustee of a trust to sell real property...

Part 3 - Rights of Purchasers, Creditors and Other Persons

7-3.1 - Disposition in Trust for Creator Void as Against Creditors - (a) A disposition in trust for the use of the...

7-3.2 - Bona Fide Purchasers and Creditors Protected - An express trust not declared in the disposition to the...

7-3.3 - Person Paying Money to the Trustee Protected - A person who in good faith transfers money or property...

7-3.4 - Excess Income From Trust Property Subject to Creditors' Claims - Where a trust is created to receive the income from...

7-3.5 - Rights of Creditors to Obtain Information Concerning Beneficiaries - (a) Any person who has furnished necessaries to a beneficiary...

Part 5 - Bank Accounts in Trust Form

7-5.1 - Definitions - (a) A "beneficiary" is a person who is described by...

7-5.2 - Terms of a Trust Account - (1) The trust can be revoked, terminated or modified by...

7-5.3 - Payment to Beneficiary - (a) If the beneficiary survives the depositor under the circumstances...

7-5.4 - Effect of Payment - A financial institution which, upon the death of a depositor...

7-5.5 - Rights Not Affected - (1) The rights of creditors of the depositor or his...

7-5.6 - Joint Depositors - If a trust account is established in the names of...

7-5.7 - Multiple Beneficiaries. - (a) Whenever any proceeds of a trust account would pass...

7-5.8 - This part shall apply to all funds in trust accounts,...

Part 6 - Uniform Transfers to Minors Act

7-6.1 - Definitions - (a) "Adult" means an individual who has attained the age...

7-6.2 - Scope and Jurisdiction - (a) This part applies to a transfer that refers to...

7-6.3 - Nomination of Custodian - (a) A person having the right to designate the recipient...

7-6.4 - Transfer by Gift or Exercise of Power of Appointment - A person may make a transfer by irrevocable gift to,...

7-6.5 - Transfer Authorized by Will or Trust - (a) A personal representative or trustee may make an irrevocable...

7-6.6 - Other Transfer by Fiduciary - (a) Subject to paragraph (c), a personal representative or trustee...

7-6.7 - Transfer by Obligor - (a) Subject to paragraphs (b) and (c), a person not...

7-6.8 - Receipt for Custodial Property - A written acknowledgement of delivery by a custodian constitutes a...

7-6.9 - Manner of Creating Custodial Property and Effecting Transfer; Designation of Initial Custodian; Control - (a) Custodial property is created and a transfer is made...

7-6.10 - Single Custodianship - A transfer may be made only for one minor, and...

7-6.11 - Validity and Effect of Transfer - (a) The validity of a transfer made in a manner...

7-6.12 - Care of Custodial Property - (a) A custodian shall: (1) take control of custodial property;...

7-6.13 - Powers of Custodian - (a) A custodian, acting in a custodial capacity, has all...

7-6.14 - Use of Custodial Property - (a) A custodian may deliver or pay to the minor...

7-6.15 - Custodian's Expenses, Compensation, and Bond - (a) A custodian is entitled to reimbursement from custodial property...

7-6.16 - Exemption of Third Person From Liability - (a) the validity of the purported custodian's designation; (b) the...

7-6.17 - Liability to Third Persons - (a) A claim based on (1) a contract entered into...

7-6.18 - Renunciation, Resignation, Death, or Removal of Custodian; Designation of Successor Custodian - (a) A person nominated under 7-6.3 or designated under 7-6.9...

7-6.19 - Accounting by and Determination of Liability of Custodian - (a) A minor who has attained the age of fourteen...

7-6.20 - Termination of Custodianship - (a) the minor's attainment of twenty-one years of age with...

7-6.21 - Age Eighteen Election - Notwithstanding the foregoing sections of this part, if with respect...

7-6.22 - Effect on Existing Custodianships - (a) Any transfer of custodial property made before January first,...

7-6.23 - Applicability - (a) the transfer purports to have been made under the...

7-6.24 - Uniformity of Application and Construction - This part shall be applied and construed to effectuate its...

7-6.25 - Short Title - This part may be cited as "The New York Uniform...

7-6.26 - Severability - If any provisions of this part or its application to...

Part 7 - Child Performer Trust Account

7-7.1 - Child Performer Trust Account - (a) is employed or agrees to render artistic or creative...

Part 8 - Honorary Trusts for Pets

7-8.1 - Trusts for Pets - (a) A trust for the care of a designated domestic...

Article 8 - Charitable Trusts

Part 1 - Rules Governing Charitable Trusts

8-1.1 - Disposition of Property for Charitable Purposes - (a) No disposition of property for religious, charitable, educational or...

8-1.2 - Certain Charitable Trusts Authorized - (a) Property may be disposed of to any incorporated educational...

8-1.3 - Certain Charitable Trusts Regulated - (a) Any person desiring in his lifetime to promote the...

8-1.4 - Supervision of Trustees for Charitable Purposes - (a) For the purposes of this section, "trustee" means (1)...

8-1.5 - Trusts for Cemetery Purposes - Dispositions of property in trust for the purpose of the...

8-1.6 - Deposit of Money in Trust by Owner of Lots in Private Unincorporated Cemetery - unincorporated cemetery The owner of lots in any private unincorporated...

8-1.7 - Authority of Trustee to Accumulate Income - (a) Where property has been transferred in trust for any...

8-1.8 - Private Foundations: Administration of Certain Trusts as Defined in the United States Internal Revenue Code of 1954 - (a) For purposes of this section, a "trust" means a...

8-1.9 - Trust Governance - (a) For purposes of this section: (1) A "trust" means...

Article 9 - Perpetuities and Accumulations

Part 1 - Perpetuities

9-1.1 - Rule Against Perpetuities - (a) (1) The absolute power of alienation is suspended when...

9-1.2 - Reduction of Age Contingency - Where an estate would, except for this section, be invalid...

9-1.3 - Rules of Construction - (a) Unless a contrary intention appears, the rules of construction...

9-1.4 - Acquisition of Real Property by Foreign Trust - Where real property situated in this state is acquired by...

9-1.5 - Trust With Transferable Certificates - A trust with transferable certificates, heretofore or hereafter created, is...

9-1.6 - Trust for Employees - A trust created by an employer, as part of a...

9-1.7 - Trust for Self-Employed Individuals and Others - No trust created under a retirement plan, which is exempt...

9-1.8 - Trust Created by National Securities Exchange to Assist Customers of Members, Member Firms or Member Corporations - (a) A trust created by a national securities exchange for...

Part 2 - Accumulations

9-2.1 - Rules Governing Accumulations - (a) All directions for the accumulation of income are void...

9-2.2 - Anticipation of Directed Accumulation - (a) When a valid accumulation is directed for the benefit...

9-2.3 - Undistributed Income - When income is not disposed of and no valid direction...

Article 10 - Powers

Part 1 - Common Law of Powers Established With Exceptions

10-1.1 - Common Law of Powers Retained, Except as Modified by This Article - article The common law of powers as embodied in this...

Part 2 - Definitions

10-2.1 - Power - A power is an authority to do any act in...

10-2.2 - Other Words Defined - (a) Donor. A donor is the person who creates or...

Part 3 - Varieties of Powers

10-3.1 - Powers of Appointment and Other Powers - (a) This article applies to powers of appointment. A power...

10-3.2 - Classification of Powers of Appointment as to Kind; General and Special; Exclusive and Non-Exclusive - (a) A power of appointment is: (1) general or special....

10-3.3 - Classification of Powers of Appointment as to Time of Exercise; Presently Exercisable, Testamentary and Postponed - (a) A power of appointment, as to the time of...

10-3.4 - Classification of Powers of Appointment as to Duty to Exercise; Imperative and Discretionary - (a) A power of appointment is either imperative or discretionary....

Part 4 - Creation of a Power of Appointment

10-4.1 - Rules for Creation of a Power of Appointment. - (a) The donor of a power of appointment: (1) Must...

Part 5 - Extent of Donee's Authority to Appoint or Contract to Appoint an Estate in Appointive Property

10-5.1 - Scope of the Authority of the Donee - The scope of the donee's authority as to appointees and...

10-5.2 - Contract to Appoint; Power Presently Exercisable - The donee of a power of appointment which is presently...

10-5.3 - Contract to Appoint; Power Not Presently Exercisable - (a) The donee of a power of appointment which is...

10-5.4 - Priority - The interest of the donee of a power of appointment,...

Part 6 - Rules Governing Exercise of a Power of Appointment

10-6.1 - Exercise of a Power of Appointment; Manifestation of Intention of Donee - (a) Subject to paragraph (b), an effective exercise of a...

10-6.2 - Exercise of a Power of Appointment; Conformity to Directions of Donor - (a) Subject to the power of a court of competent...

10-6.3 - Exercise of a Power of Appointment; Type of Instrument - A power of appointment can be exercised only by a...

10-6.4 - Exercise of a Power of Appointment; Required Consents - (a) When the consent of the donor or of a...

10-6.5 - Exercise of Exclusive and Non-Exclusive Power of Appointment - (a) Unless the donor expressly provides otherwise: (1) The donee...

10-6.6 - Exercise of a Power of Appointment; Effect When More Extensive or Less Extensive Than Authorized; Trustee's Authority to Invade Principal in Trust. - (a) An exercise of a power of appointment is not...

10-6.7 - Exercise by All Donees; Exceptions - Whenever a power of appointment, other than a power in...

10-6.8 - Imperative Power of Appointment; Effectuation - (a) The exercise of an imperative power of appointment devolves...

10-6.9 - Exercise of a Power of Appointment in Further Trust - If the donee of a power of appointment exercises the...

Part 7 - Rights of Creditors in Appointive Property

10-7.1 - Creditors of the Donee; Special Power - Property covered by a special power of appointment (or a...

10-7.2 - Creditors of the Donee; General Power Presently Exercisable - Property covered by a general power of appointment (other than...

10-7.3 - Creditors of the Donee; Power Subject to a Condition - A general power of appointment may be created subject to...

10-7.4 - Creditors of the Donee; General Power Not Presently Exercisable - (a) Property covered by a general power of appointment which,...

Part 8 - Rule Against Perpetuities and Accumulations as Affected by Powers of Appointment

10-8.1 - Rule Against Perpetuities; Time at Which Permissible Period Begins - (a) Where an estate is created by an instrument exercising...

10-8.2 - Rule Against Perpetuities; Law Which Determines Permissible Period - period In all cases covered by 10-8.1, the permissible period...

10-8.3 - Rule Against Perpetuities; Facts to Be Considered - When the permissible period of the rule against perpetuities must...

10-8.4 - Rule Against Accumulations; Law Determining Validity in Exercise of a Power of Appointment - exercise of a power of appointment When a direction for...

Part 9 - Revocation and Release of a Power of Appointment

10-9.1 - Revocability of a Power of Appointment - (a) A power of appointment is irrevocable unless the donor...

10-9.2 - Release of a Power of Appointment - (a) Any power of appointment, whether exercisable only by deed,...

Part 10 - Provisions Affecting Powers Other Than Powers of Appointment

10-10.1 - Power to Distribute Principal or Allocate Income; Restriction on Exercise. - on exercise A power held by a person as trustee...

10-10.2 - Power to Lease in Tenant for Life; Scope - A power may be conferred upon a tenant for life...

10-10.3 - Power to Lease in Tenant for Life; Transfer and Extinguishment - The power of a tenant for life to make leases...

10-10.4 - Power to Lease in Tenant for Life; Effect of Mortgage - (a) The power of a tenant for life to make...

10-10.5 - Power to Sell in a Mortgage - Where a power to sell real property is given to...

10-10.6 - Effect of Reserved Unqualified Power to Revoke - Where a creator reserves an unqualified power of revocation, he...

10-10.7 - Exercise of Powers by Multiple Fiduciaries; Joint and Several Powers - powers Unless contrary to the express provisions of an instrument...

10-10.8 - Irrevocability of Powers Other Than Powers of Appointment - A power, other than a power of appointment, is irrevocable...

Article 11 - Fiduciary: Powers, Duties and Limitations; Actions by or Against in Representative or Individual Capacities

Part 1 - Fiduciaries: Powers, Duties and Limitations

11-1.1 - Fiduciaries' Powers - (a) As used in this section, unless the context or...

11-1.2 - Tax Elections by Personal Representatives - (A) If the personal representative or other person acting in...

11-1.3 - Power and Duty of Executor Before Probate - An executor named in a will has no power to...

11-1.4 - Validity of Execution of Power to Sell, Mortgage or Lease Real Property by Less Than All Qualifying Executors - property by less than all qualifying executors Any deed, mortgage...

11-1.5 - Payment of Testamentary Dispositions or Distributive Shares - (a) Subject to his or her duty to retain sufficient...

11-1.6 - Property Held as Fiduciary to Be Kept Separate - (a) Every fiduciary shall keep property received as fiduciary separate...

11-1.7 - Limitations on Powers and Immunities of Executors and Testamentary Trustees - (a) The attempted grant to an executor, testamentary trustee, or...

11-1.8 - Power of Fiduciary or Custodian for Fiduciary to Deposit United States Government and Agency Securities With a Federal Reserve Bank - (a) Notwithstanding any other provision of law, any bank or...

11-1.9 - Power of Fiduciary or Custodian to Deposit Securities in a Central Depository - (a) Notwithstanding any other provision of law, any fiduciary (as...

11-1.10 - Power of Fiduciary to Employ a Broker-Dealer as Custodian - Notwithstanding any other provision of law any fiduciary (as defined...

11-1.11 - Limited Power of Fiduciary to Amend Trust for Certain Tax Purposes. - (a) Unless expressly prohibited by the terms of the instrument...

Part 2 - Investments by Fiduciaries: Powers and Duties Relating Thereto

11-2.1 - Principal and Income - (a) Duty of trustee as to receipts and expenditures. (1)...

11-2.2 - Power to Invest - (a) Investment of trust funds (1) A fiduciary holding funds...

11-2.3 - Prudent Investor Act - (a) Prudent investor rule. A trustee has a duty to...

11-2.3-A - Judicial Control With Respect to Fiduciary's Power to Adjust - (a) Judicial control of adjustment power. A court shall not...

11-2.4 - Optional Unitrust Provision - (a) Unless the terms of the trust provide otherwise, the...

Part 3 - Actions by or Against Personal Representatives

11-3.1 - Actions - Any action, other than an action for injury to person...

11-3.2 - Action for Injury to Person or Property Survives Despite Death of Person in Whose Favor or Against Whom Cause of Action Existed - (a) Action against personal representative for injury to person or...

11-3.3 - Limitations Upon Recovery Where Injury Causes Death - (a) Where an injury causes the death of a person...

11-3.4 - Action by Representative of Representative - Except as otherwise prescribed by law, a personal representative of...

Part 4 - Procedural Aspects of Actions by or Against Personal Representatives

11-4.1 - How to Sue or Be Sued - Actions or proceedings brought by or against a personal representative...

11-4.2 - When Personal and Representative Causes of Action May Be Joined - Actions or proceedings brought against a personal representative personally and...

11-4.3 - Separate Dockets and Executions - In a case specified in 11-4.2 or where costs to...

11-4.4 - Commencement of Action Against Personal Representatives; Rule When Some of Representatives Not Served - when some of representatives not served Where an action or...

11-4.5 - Want of Assets Not to Be Pleaded by Personal Representative - In an action or proceeding against a personal representative, in...

11-4.6 - Leave to Issue Execution Against Personal Representative; How Procured; Order and Contents Thereof; Security Before Order Granted; Execution on Judgme - (a) Leave to issue execution against personal representative. Except as...

11-4.7 - Liability of the Personal Representative for Claims Arising Out of the Administration of the Estate - (a) Unless otherwise provided in the contract, a personal representative...

Article 11-A - Uniform Principal and Income Act

Part 1 - Definitions and Fiduciary Duties

11-A-1.1 - Short Title - This article may be cited as the New York uniform...

11-A-1.2 - Definitions - (1) "Accounting period" means a calendar year unless another twelve-...

11-A-1.3 - Fiduciary Duties; General Principles - (a) In allocating receipts and disbursements to or between principal...

Part 2 - Decedent's Estate or Terminating Income Interest

11-A-2.1 - Determination and Distribution of Net Income - (1) A fiduciary of an estate or of a terminating...

11-A-2.2 - Distribution to Risiduary and Remainder Beneficiaries - (a) Each beneficiary described in paragraph 11-A-2.1 (4) is entitled...

Part 3 - Apportionment at Beginning and End of Income Interest

11-A-3.1 - When Right to Income Begins and Ends - (a) An income beneficiary is entitled to net income from...

11-A-3.2 - Apportionment of Receipts and Disbursements When Decedent Dies or Income Interest Begins - (a) A trustee shall allocate an income receipt or disbursement...

11-A-3.3 - Apportionment When Income Interest Ends - (a) In this section, "undistributed income" means net income received...

Part 4 - Allocation of Receipts During Administration of Trust

Sub Part 1 - Receipts From Entities

11-A-4.1 - Character of Receipts - (a) In this section, "entity" means a corporation, partnership, limited...

11-A-4.2 - Distribution From Trust or Estate - A trustee shall allocate to income an amount received as...

11-A-4.3 - Business and Other Activities Conducted by Trustee - (a) If a trustee who conducts a business or other...

Sub Part 2 - Receipts Not Normally Apportioned

11-A-4.4 - Principal Receipts - (1) to the extent not allocated to income under this...

11-A-4.5 - Rental Property - To the extent that a trustee accounts for receipts from...

11-A-4.6 - Obligation to Pay Money - (a) An amount received as interest, whether determined at a...

11-A-4.7 - Insurance Policies and Similar Contracts - (a) Except as otherwise provided in paragraph (b), a trustee...

Sub Part 3 - Receipts Normally Apportioned

11-A-4.8 - Insubstantial Allocations Not Required - (1) the amount of the allocation would increase or decrease...

11-A-4.9 - Deferred Compensation, Annuities, and Similar Payments - (a) In this section, "payment" means a payment that a...

11-A-4.10 - Liquidating Asset - (a) In this section, "liquidating asset" means an asset whose...

11-A-4.11 - Minerals, Water, and Other Natural Resources - (a) To the extent that a trustee accounts for receipts...

11-A-4.12 - Timber - (a) To the extent that a trustee accounts for receipts...

11-A-4.13 - Property Not Productive of Income - (a) If a gift tax or estate tax marital deduction...

11-A-4.14 - Derivatives and Options - (a) In this section, "derivative" means a contract or financial...

11-A-4.15 - Asset-Backed Securities - (a) In this section, "asset-backed security" means an asset whose...

Part 5 - Allocation of Disbursements During Administration of Trust

11-A-5.1 - Disbursements From Income - (1) one-third of the regular compensation of any person providing...

11-A-5.2 - Disbursements From Principal - (a) A trustee shall make the following disbursements from principal:...

11-A-5.3 - Transfers From Income to Principal for Depreciation - (a) In this section, "depreciation" means a reduction in value...

11-A-5.4 - Transfers From Income to Reimburse Principal - (a) If a trustee makes or expects to make a...

11-A-5.5 - Income Taxes - (a) A tax required to be paid by a trustee...

11-A-5.6 - Adjustments Between Principal and Income Because of Taxes - (1) elections and decisions that the fiduciary makes from time...

Part 6 - Miscellaneous Provisions

11-A-6.1 - Uniformity of Application and Construction - In applying and construing this article, consideration must be given...

11-A-6.2 - Severability Clause - If any provision of this article or its application to...

11-A-6.3 - Effective Date - This article takes effect on January first, two thousand two.

11-A-6.4 - Application of Article - Except as specifically provided in the trust instrument, the will,...

Article 12 - Actions by Creditors and Other Persons Against Distributees and Testamentary Beneficiaries

Part 1 - Liability of Distributees and Testamentary Beneficiaries and Action Thereon

12-1.1 - Liability of Distributees and Testamentary Beneficiaries - (a) Subject to the other provisions of this article, distributees...

12-1.2 - Order of Liability; Preferences - (a) Distributees and testamentary beneficiaries are liable, as provided in...

12-1.3 - Extent of Liability; Judgment Debtor's Right to Indemnity and Contribution - (a) Although subject, under paragraph (a) of 12-1.1, to a...

Part 2 - Rules Governing Action to Enforce Liability

12-2.1 - Action Not Impaired by Failure of Creditor or Other Person to Present Claim to Representative as Prescribed by Law - present claim to representative as prescribed by law The failure...

12-2.2 - Action May Be Joint or Several; Right to Implead - An action may be brought against one or more of...

12-2.3 - Effect of Application to Surrogate to Sell Real Property - If, during the pendency of an action to enforce a...

12-2.4 - Effect of Judgment - A judgment recovered in an action brought under this article...

12-2.5 - Title of Bona Fide Purchaser From Distributee or Testamentary Beneficiary Protected - beneficiary protected The entry and filing of a judgment recovered...

Article 13 - Other Provisions Affecting Estates

Part 1 - Assets of Decedent's Estate

13-1.1 - Certain Assets Considered Personal Property - (a) For purposes of the administration of an estate, the...

13-1.2 - Assets; Debt Due From Executor to Testator; Effect of Discharge by Will - by will The designation by will of a person as...

13-1.3 - Assets Chargeable With Payment of Estate Obligations; Order in Which Assets Appropriated; Abatement - (a) All of the property of a decedent, and any...

13-1.4 - Action in Supreme Court to Compromise Controversies Between Claimants to Estate Assets - claimants to estate assets An action may be maintained in...

Part 2 - Statute of Frauds Requirements

13-2.1 - Agreements Involving a Contract to Establish a Trust, to Make a Testamentary Provision of Any Kind, and by a Personal Representative to Answer for The - (a) Every agreement, promise or undertaking is unenforceable unless it...

13-2.2 - Transfers and Mortgages of Interest in Decedents' Estates Required to Be in Writing and Recorded - (a) Every conveyance, assignment or other transfer of, and every...

13-2.3 - Powers of Attorney in Relation to Decedents' Estates Required to Be in Writing and Recorded - (a) Every power of attorney relating to an interest in...

Part 3 - Miscellaneous Provisions

13-3.1 - Rights of Payees in Non-Transferable United States Savings Bonds - bonds Where any United States savings bond is payable to...

13-3.2 - Rights of Beneficiaries of Pension, Retirement, Death Benefit, Stock Bonus and Profit-Sharing Plans, Systems or Trusts and of Beneficiaries of Annuiti - (a) If a person is entitled to receive (1) payment...

13-3.3 - Designation of Trustee to Receive Proceeds of Thrift, Savings, Pension, Retirement, Death Benefit, Stock Bonus and Profit-Sharing Plans, Systems or Tr - (a) The proceeds of thrift, savings, pension, retirement, death benefit,...

13-3.4 - Payment or Delivery of Property to Foreign Fiduciaries - (a) Whenever any foreign fiduciary, by whatever title he is...

13-3.5 - Action or Proceeding by Foreign Personal or Other Legal Representative - (a) A personal or other legal representative of a non-domiciliary...

13-3.6 - Disaffirmance of Fraudulent Acts by Personal Representative and Others - others A fiduciary may, for the benefit of creditors or...

Part 4 - Transfer-on-Death Security Registration

13-4.1 - Definitions - (a) "Beneficiary form" means a registration of a security which...

13-4.2 - Registration in Beneficiary Form; Sole or Joint Tenancy Ownership - ownership Only individuals whose registration of a security shows sole...

13-4.3 - Applicable Law - A security may be registered in beneficiary form if the...

13-4.4 - Origination of Registration in Beneficiary Form - A security, whether evidenced by certificate or account, is registered...

13-4.5 - Form of Registration in Beneficiary Form - Registration in beneficiary form may be shown by the words...

13-4.6 - Effect of Registration in Beneficiary Form - (a) The designation of a TOD beneficiary on a registration...

13-4.7 - Ownership on Death of Owner - On death of a sole owner or the last to...

13-4.8 - Protection of Registering Entity - (a) A registering entity is not required to offer or...

13-4.9 - Nontestamentary Transfer on Death - (a) A transfer on death resulting from a registration in...

13-4.10 - Terms, Conditions, and Forms - (a) A registering entity offering to accept registrations in beneficiary...

13-4.11 - Rules of Construction - (a) This part shall be liberally construed and applied to...

13-4.12 - Application - This part applies to registrations of securities in beneficiary form...

Article 13-A - Administration of Digital Assets Summary of Article

Part 1 - Defintions

13-A-1 - Defintions. - (a) "Account" means an arrangement under a terms-of-service agreement in...

Part 2 - Applicability, Procedure for Diclosure, User Directions

13-A-2.1 - Applicability. - (a) This article applies to: (1) a fiduciary acting under...

13-A-2.2 - User Direction for Disclosure of Digital Assets - (a) A user may use an online tool to direct...

13-A-2.3 - Terms-of-Service Agreement - (a) This article does not change or impair a right...

13-A-2.4 - Procedure for Disclosing Digital Assets - (a) When disclosing digital assets of a user under this...

Part 3 - Disclosure of Digital Assets to Fiduciary

13-A-3.1 - Disclosure of Content of Electronic Communications of Deceased User - (a) a written request for disclosure in physical or electronic...

13-A-3.2 - Disclosure of Other Digital Assets of Deceased User - (a) a written request for disclosure in physical or electronic...

13-A-3.3 - Disclosure of Content of Electronic Communications of Principal - (a) a written request for disclosure in physical or electronic...

13-A-3.4 - Disclosure of Other Digital Assets of Principal - (a) a written request for disclosure in physical or electronic...

13-A-3.5 - Disclosure of Digital Assets Held in Trust When Trustee Is Original User - original user Unless otherwise ordered by the court or provided...

13-A-3.6 - Disclosure of Contents of Electronic Communications Held in Trust When Trustee Not Original User - (a) a written request for disclosure in physical or electronic...

13-A-3.7 - Disclosure of Other Digital Assets Held in Trust When Trustee Not Original User - (a) a written request for disclosure in physical or electronic...

13-A-3.8 - Disclosure of Digital Assets to Guardian of Ward - (a) After an opportunity for a hearing concerning the appointment...

Part 4 - Fiduciary Duty and Authority, Compliance and Immunity

13-A-4.1 - Fiduciary Duty and Authority - (a) The legal duties imposed on a fiduciary charged with...

13-A-4.2 - Custodian Compliance and Immunity - (a) Not later than sixty days after receipt of the...

Part 5 - Miscellaneous Provisions

13-A-5.1 - Relation to Electronic Signature in Global and National Commerce Act - commerce act This article modifies, limits, or supersedes the Electronic...

13-A-5.2 - Severability - If any provision of this article or its application to...

Article 14 - Repealer; Derivation and Distribution Tables; Effective Date

Part 1 - Laws Repealed by This Chapter

14-1.1 - Schedule of Laws Repealed; Effect of Repeal - (a) The following are the laws repealed in their entirety,...

Part 2 - Derivation and Distribution Tables

14-2.1 - Derivation of the Estates, Powers and Trusts Law From Other Laws - laws EPTL DEL GEN OB PPL RPL SCA 1-1.1 1-1.2...

14-2.2 - Distribution From Other Laws to the Estates, Powers and Trusts Law - law DEL EPTL SCPA 2 1-2.19(b) 11 3-1.2 12 3-1.3(a)...

Part 3 - Effective Date

14-3.1 - When Act Becomes Effective - This act shall take effect September first, nineteen hundred sixty-seven.

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New York Laws EPT - Estates, Powers and Trusts

New York Laws
EPT - Estates, Powers and Trusts