Loading chat...

NY A11316

Bill

Official Source

Status

Passed

8/30/2010

Primary Sponsor

Micah Kellner

Click for details

Origin

Assembly

2009-2010 General Assembly

AI Summary

  • Amends the Estates, Powers and Trusts Law to modify requirements for executing lifetime trusts in writing
  • Requires the person establishing the trust and at least one trustee (unless the person is the sole trustee) to execute and acknowledge the trust document
  • Allows execution either in the manner required for recording real property conveyances or alternatively with two witness signatures on the trust instrument
  • Replaces outdated language referring to "initial creator" with "person establishing such trust"
  • Applies to all lifetime trusts created on or after December 25, 1997, effective immediately upon enactment

Legislative Description

Requires the person establishing a lifetime trust to execute and acknowledge such trust.

Last Action

signed chap.451

8/30/2010

Committee Referrals

Rules6/16/2010
Rules6/8/2010
Judiciary6/1/2010

Full Bill Text

No bill text available