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Assembly Bill A11316

Signed By Governor

2009-2010 Legislative Session

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

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Archive: Last Bill Status - Signed by Governor

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2009-A11316 (ACTIVE) - Details

See Senate Version of this Bill:
S8298
Law Section:
Estates, Powers and Trusts Law
Laws Affected:
Amd ยง7-1.17, EPT L

2009-A11316 (ACTIVE) - Summary

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

2009-A11316 (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  11316

                          I N  A S S E M B L Y

                              June 1, 2010
                               ___________

Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. D. Weprin,
  Kellner, Weinstein) -- read once and  referred  to  the  Committee  on
  Judiciary

AN  ACT  to amend the estates, powers and trusts law, in relation to the
  execution and acknowledgment of lifetime trusts

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1.  Paragraph (a) of section 7-1.17 of the estates, powers and
trusts  law,  as added by chapter 139 of the laws of 1997, is amended to
read as follows:
  (a) Every lifetime trust shall be in writing and shall be executed and
acknowledged by the [initial creator]  PERSON  ESTABLISHING  SUCH  TRUST
and,  unless  such [creator] PERSON is the sole trustee, by at least one
trustee thereof, in the manner required by the laws of  this  state  for
the  recording  of  a  conveyance  of real property or, in lieu thereof,
executed in the presence of two witnesses who shall affix  their  signa-
tures to the trust instrument.
  S  2.    This act shall take effect immediately and shall apply to all
lifetime trusts created on or after December 25, 1997.






 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD17545-01-0

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