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Trusts, Estates & Surrogate's Courts

Anti-Lapse Statute

A.6555 (AM Lavine) / S.4852 (Sen. Bonacic) - Provides that the disposition of a future estate not subject to a condition precedent vests per stirpes.

  • Report in support of legislation by the Committee on Trusts, Estates and Surrogate's Courts, Reissued May 2013.
  • 44th Street Blog: "Watching Over New York’s Estates, Powers and Trusts Law" - June 24, 2013
  • Signed by the Governor, Chp. 348 - September 27, 2013


Estate Tax

A.8559 and S.6359 (Budget Article VII) - Enacts into law major components of legislation necessary to implement the revenue budget for the 2014-2015 state fiscal year.

  • Report on legislation by the Committee on Trusts, Estates and Surrogate's Courts and the Committee on Estate and Gift Taxation, March 2014.
  • "Budget Brings Dramatic Changes to Trusts and Estates Laws", New York Law Journal, April 22, 2014 - Sharon Klein, Chair of the Trusts, Estates and Surrogate’s Court Committee, provides her perspective at what the 2014-2015 budget agreement means for New York trusts and estates law.

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Report by the Committee on Trusts, Estates and Surrogate's Courts on certain aspects of the final report of the NYS Tax Reform and Fairness Commission dated November 2013 and the final report of the NYS Tax Relief Commission dated December 2013, January 2014.

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A.9710-A / S.6610-A, Part BB (Budget Article VII) - an act to amend the tax law, in relation to the amount of the unified credit against the estate tax. (2009/2010 Legislative Sessions)

  • Letter to the Governor and NYS Legislators in support of legislation, March 2010.
  • Signed by the Governor, Chp. 57 - August 11, 2010

Fiduciaries, Resignation of

A.7062 (AM Weinstein) / S.4272 (Sen. Bonacic) - would amend the Surrogate’s Court Procedure Act (SCPA) by removing the requirement that the fiduciary seeking to resign must file a judicial accounting.

  • Report in support of legislation by the Committee on Trusts, Estates and Surrogate’s Courts, May 2013.
  • 44th Street Blog: "Watching Over New York’s Estates, Powers and Trusts Law" - June 24, 2013
  • Signed by the Governor, Chp.  483 - November 13, 2013

Generation-Skipping Transfer Tax Laws

A.9857-C (AM Carrozza) / S.8056 (Sen. Kruger) - Would amend the estates, powers and trusts law in relation to 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 31, 2009 and before January 1, 2011. (2009/2010 Legislative Sessions)

  • Report in support of legislation, with suggested modification by the Committee on Trusts, Estates and Surrogate's Courts and the Committee on Estate and Gift Taxation, Reissued June 2010.
  • Supplemental report on legislation suggesting modification to bill as is currently written by the Committee on Trusts, Estates and Surrogate's Courts and the Committee on Estate and Gift Taxation, June 2010.
  • Letter to Governor Paterson recommending he amend legislation before signing it into law, July 2, 2010.
  • Signed by the Governor, Chp. 349 - August 13, 2010

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A.7729 (AM Weinstein) / S.5519 (Sen. Bonacic) - Modifies certain formulas construed to refer to the federal estate and generation-skipping transfer tax on estates of decedents dying during 2010.

  • Report on modifications to Section 2-1.13 of the Estates Powers and Trusts Law by the Committee on Trusts, Estates and Surrogate's Courts and the Committee on Estate and Gift Taxation, March 2011.
  • Report in support of legislation by the Committee on Trusts, Estates and Surrogate's Courts and the Committee on Estate and Gift Taxation, May 2011.
  • Letter to Governor Cuomo urging him to sign legislation into law, September 14, 2011.
  • Signed by the Governor, Chp. 529 - September 23, 2011

Legacies

A.1185 (AM Weinstein) / S.4952 (Sen. Bonacic) - Establishes the formula for determining the interest payable on a delayed legacy.

  • Report in support of legislation by the Committee on Trusts, Estates and Surrogate’s Courts, Reissued May 2013.
  • 44th Street Blog: "Watching Over New York’s Estates, Powers and Trusts Law" - June 24, 2013.
  • Signed by the Governor, Chp. 404 - October 21, 2014


Lifetime Trust

Proposed amendment by the Committee on Trusts, Estates and Surrogate’s Courts to EPTL §7-1.17 which would create a valid lifetime trust, June 2009.


Posthumously Conceived Children

A.7461-A (AM Cook) / S.4779-B (Sen. Bonacic) - Relates to inheritance by children conceived after the death of a genetic parent.

  • Report in support of legislation by the Committee on Trusts, Estates and Surrogate’s Courts, Reissued July 2014.

Pre-Mortem Probate

Report by the Committee on Trusts, Estates and Surrogate’s Courts opposing any changes in the law to permit pre-mortem probate in any type of judicial proceeding, January 2009.


Property Interests, Renunciation of

A.9355-A (AM Santabarbara) / S.7144 (Sen. Bonacic) - amends §2-1.11(D)(5) of the New York Estate, Powers and Trusts Law concerning renunciation of property interest.

  • Report in support of proposal by the Committee on Trusts, Estates and Surrogate’s Courts, March 2014.
  • Signed by the Governor, Chp. 315 - August 11, 2014

Property Tax Abatement

A.6658 (AM Wright) / S.4600 (Sen. Golden) - Relates to partial tax abatements for certain residential real property.

  • Report in support of legislation by the Committee on Legal Problems of the Aging and the Committee on Trusts, Estates and Surrogate’s Courts, May 2013.
  • 44th Street Blog: "Watching Over New York’s Estates, Powers and Trusts Law" - June 24, 2013
  • Signed by the Governor, Chp. 97 - July 3, 2013

Prudent Investor Act, The

Report by the Committee on Trusts, Estates and Surrogate’s Courts on a proposed amendment to Section 11-2.3(b)(5) of the Estates, Powers and Trusts Law, April 2013.

  • 44th Street Blog: "Watching Over New York’s Estates, Powers and Trusts Law" - June 24, 2013

Qualified Domestic Trusts

A.6556-A (AM Weinstein) / S.4851-A (Sen. Bonacic) - Would simplify the procedure for obtaining a marital deduction for a disposition to a non-US citizen surviving spouse where no federal estate tax return is required.

  • Report in support of legislation by the Committee on Trusts, Estates and Surrogate’s Courts and the Committee on Estate and Gift Taxation, Reissued May 2013.
  • 44th Street Blog: "Watching Over New York’s Estates, Powers and Trusts Law" - June 24, 2013
  • Signed by the Governor, Chp. 538 - December 18, 2013


Right of Election

A.855 (AM Weinstein) - Requires prior disclosure of income, assets, financial obligations of decedent to enforce surviving spouse's waiver of right of election and waives dead man's statute.

  • Report in opposition to legislation by the Committee on Trusts, Estates and Surrogate's Courts, Reissued May 2013.
  • 44th Street Blog: "Watching Over New York’s Estates, Powers and Trusts Law" - June 24, 2013
  • A.2873/S.2971 vetoed by the Governor, Memo No. 6 - March 30, 2010 (2009/2010 Legislative Sessions)

Testamentary Trusts

Report by the Committee on Trusts, Estates and Surrogate's Courts proposing amendments to EPTL 3-3.7(e) affecting testamentary trusts, February 2011.


Trustees, Role of

A.8297-A (AM Weinstein) / S.5801 (Sen. Bonacic) - would permit a trustee to pay over the principal of a trust to a new trust even if the trustee does not have absolute or unlimited discretion to invade the principal of the trust.

  • Report in support of legislation by the Committee on Trusts, Estates and Surrogate’s Courts and the Committee on Estate and Gift Taxation, June 2011.
  • Report by the Committee on Trusts, Estates and Surrogate’s Courts and the Committee on Estate and Gift Taxation in support of a proposed amendment to Section 10-6.6(B) of the Estates, Powers and Trusts Law and restatement of the statute as Section 10-6.6-A, May 2010.
  • Signed by the Governor, Chp. 451 - August 17, 2011


For a full list of committee reports, click here.


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