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NY A08306
Bill
Status
5/12/2025
Primary Sponsor
Patrick Carroll
Click for details
AI Summary
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Increases the motor vehicle exemption for a decedent's family from $25,000 to $50,000 under New York's estates, powers and trusts law
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Surviving spouse or children may receive one motor vehicle valued up to $50,000 free from will provisions or intestate distribution rules
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Allows family to acquire a vehicle exceeding the $50,000 threshold by paying the estate the difference between the vehicle's value and $50,000
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Family may alternatively elect to receive cash equal to the vehicle's value, capped at $50,000, instead of taking the actual vehicle
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Takes effect on January 1 following enactment
Legislative Description
Increases the value of a motor vehicle exempt from the provisions of a will or intestate distribution for the benefit of the family of a decedent.
Last Action
referred to judiciary
1/7/2026