Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Aug 11, 2014 |
signed chap.315 |
Aug 01, 2014 |
delivered to governor |
Jun 12, 2014 |
returned to senate passed assembly ordered to third reading cal.633 substituted for a9355a |
May 29, 2014 |
referred to judiciary delivered to assembly passed senate |
May 12, 2014 |
advanced to third reading |
May 07, 2014 |
2nd report cal. |
May 06, 2014 |
1st report cal.526 |
Apr 30, 2014 |
referred to judiciary |
Senate Bill S7144
Signed By Governor2013-2014 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - 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
2013-S7144 (ACTIVE) - Details
- See Assembly Version of this Bill:
- A9355
- Law Section:
- Estates, Powers and Trusts Law
- Laws Affected:
- Amd ยง2-1.11, EPT L
2013-S7144 (ACTIVE) - Sponsor Memo
BILL NUMBER:S7144 TITLE OF BILL: An act to amend the estates, powers and trusts law, in relation to renunciation of property interests 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. EPTL 2-1.11(d)(5) authorizes the personal representative of a decedent to renounce property to which the decedent became entitled but did not receive before death, so long as the personal representative is authorized to do so by the court having jurisdiction of the decedent's estate. The most common situation in which a disclaimer by a personal representative is useful involves spouses who have wills giving all to the surviving spouse and, if the spouse does not survive, to the couple's descendants. The result is no matter which spouse dies first the same beneficiaries take the couples' property. If the spouses both die within a short period of time the first estate must transfer all of the property to the second estate so that the second estate can make distribution of the property to the beneficiaries. Property in the estate of the first to die, therefore, is subject to the expenses of administration twice even though the beneficiaries of both estates are ultimately the same (the problem is the same if the spouses die intestate with respect to the surviving spouse's share in intestacy). If the second spouse dies within nine months of the date of the death
2013-S7144 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 7144 I N S E N A T E April 30, 2014 ___________ 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 renunciation of property interests THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subparagraph 5 of paragraph (d) 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: (5) The personal representative of a decedent, [when so authorized by] PROVIDED, HOWEVER, THAT THE PERSONAL REPRESENTATIVE MAY SEEK AUTHORI- ZATION FROM the court having jurisdiction of the estate of the decedent. S 2. This act shall take effect immediately and shall apply to the estates of decedents dying on or after its effective date. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD13641-02-4
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