Assembly Bill A7750

2023-2024 Legislative Session

Provides statutory provisions for proving and establishing lost or destroyed lifetime trusts

download bill text pdf

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Current Bill Status - In Assembly Committee

  • 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

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2023-A7750 (ACTIVE) - Details

Current Committee:
Assembly Judiciary
Law Section:
Surrogate's Court Procedure Act
Laws Affected:
Add §1510, SCPA

2023-A7750 (ACTIVE) - Summary

Provides a mechanism for establishing the existence of a writing creating or amending a lifetime trust which was either lost or destroyed.

2023-A7750 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7750
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 6, 2023
                                ___________
 
 Introduced by M. of A. LAVINE -- read once and referred to the Committee
   on Judiciary
 
 AN  ACT  to  amend  the  surrogate's court procedure act, in relation to
   proof of lost or destroyed trusts
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section  1. The surrogate's court procedure act is amended by adding a
 new section 1510 to read as follows:
 § 1510. PROOF OF LOST OR DESTROYED TRUST
   1. A LOST OR DESTROYED TRUST MAY BE PROVED IN A PROCEEDING ONLY IF:
   (A) EXECUTION OF THE TRUST AND ANY AMENDMENTS THERETO  ARE  PROVED  IN
 THE  MANNER  REQUIRED  BY  NEW YORK LAW, OR BY THE APPLICABLE LAW OF THE
 SITUS AT THE TIME OF EXECUTION;
   (B) THE TRUST HAS NOT BEEN REVOKED; AND
   (C) ALL OF THE PROVISIONS OF THE TRUST ARE ESTABLISHED BY  A  COPY  OR
 DRAFT  OF THE TRUST PROVED TO BE TRUE AND COMPLETE, OR IN THE ABSENCE OF
 COPY OR DRAFT OF THE TRUST, BY ESTABLISHING THE FOLLOWING:
   (I) THE DESIGNATED TRUSTEE OF THE TRUST;
   (II) THE DESIGNATED BENEFICIARY OR BENEFICIARIES OF THE TRUST;
   (III) THE DISPOSITIVE PROVISIONS OF THE TRUST; AND
   (IV) THAT IDENTIFIABLE ASSETS WERE TRANSFERRED TO AND ARE HELD IN  THE
 TRUST.
   2.  THERE  SHALL  BE A PRESUMPTION OF DUE EXECUTION WHERE IT IS ESTAB-
 LISHED THAT ASSETS WERE TRANSFERRED TO THE TRUST.
   3. THERE SHALL BE A PRESUMPTION THAT THE TRUST WAS NOT REVOKED.
   4. IN ANY PROCEEDING TO PROVE A LOST OR DESTROYED TRUST:
   (A) THE PERSON OR PERSONS SEEKING TO CHALLENGE  THE  VALIDITY  OF  THE
 TRUST  SHALL  HAVE  THE  BURDEN OF PROOF TO ESTABLISH THAT THE TRUST HAS
 BEEN REVOKED; AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11385-01-3
 A. 7750                             2

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