Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 03, 2011 |
signed chap.285 |
Jul 22, 2011 |
delivered to governor |
Jun 02, 2011 |
returned to assembly passed senate 3rd reading cal.742 substituted for s4584 |
Jun 02, 2011 |
substituted by a6837 |
May 23, 2011 |
advanced to third reading |
May 18, 2011 |
2nd report cal. |
May 17, 2011 |
1st report cal.742 |
Apr 13, 2011 |
referred to judiciary |
Senate Bill S4584
Signed By Governor2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status Via A6837 - Signed by Governor
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
2011-S4584 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A6837
- Law Section:
- Estates, Powers and Trusts Law
- Laws Affected:
- Amd §2-1.11, EPT L
2011-S4584 (ACTIVE) - Sponsor Memo
BILL NUMBER:S4584 TITLE OF BILL: An act to amend the estates, powers and trusts law, in relation to the renunciation of interests in jointly held property This is one in a series of measures being introduced at the request of the Chief Administrative Judge upon the recommendation of her Surrogate's Court Advisory Committee. This measure would clarify the application of section 2-1.11 of the EPTL, the renunciation statute, to renunciations by joint tenants and tenants by the entirety. The amendment of EPTL 2-1.11 by chapter 27 of the Laws of 2010, among other changes, modified the list in subsection (b)(1) of dispositions which may be renounced by replacing the reference to "a transfer created by a joint tenancy or a tenancy by the entirety" with language referring to two different transfers: "a transfer resulting from the creation of a joint tenancy or tenancy by the entirety," and "a transfer created by the death of a joint tenant or tenant by the entirety." The new language accurately draws a distinction between the transfer
2011-S4584 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4584 2011-2012 Regular Sessions I N S E N A T E April 13, 2011 ___________ Introduced by Sen. BONACIC -- (at request of the Office of Court Admin- istration) -- read twice and ordered printed, and when printed to be committed to the Committee on Judiciary AN ACT to amend the estates, powers and trusts law, in relation to the renunciation of interests in jointly held property THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph 1 of paragraph (b) of section 2-1.11 of the estates, powers and trusts law, as amended by chapter 27 of the laws of 2010, is amended to read as follows: (1) The term "disposition" shall include a disposition created under a will or trust agreement including, without limitation, the granting of a power of appointment, a disposition created by the exercise or nonexer- cise of a power of appointment, a distributive share under 4-1.1, a transfer created by a trust account as defined in 7-5.1, a transfer created by a life insurance or annuity contract, a transfer resulting from the creation of a joint tenancy or tenancy by the entirety, [a transfer created by] SUCCESSION TO AN INTEREST OCCURRING BY OPERATION OF LAW ON the death of a joint tenant or tenant by the entirety, a transfer under an employee benefit plan (including, without limitation, any pension, retirement, death benefit, stock bonus or profit-sharing plan, system or trust), a transfer of a security to a beneficiary pursuant to part 4 of article 13 of this chapter, any other disposition or transfer created by any testamentary or nontestamentary instrument, or by opera- tion of law, and any of the foregoing created or increased by reason of a renunciation made by another person. S 2. This act shall take effect immediately and shall apply to estates of decedents dying on or after such date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD09884-01-1
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.