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A11316 Summary:

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A11316 Floor Votes:

A11316 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          11316
 
                   IN ASSEMBLY
 
                                      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:
 

     1    Section 1.  Paragraph (a) of section 7-1.17 of the estates, powers and
     2  trusts  law,  as added by chapter 139 of the laws of 1997, is amended to
     3  read as follows:
     4    (a) Every lifetime trust shall be in writing and shall be executed and
     5  acknowledged by the [initial creator]  person  establishing  such  trust
     6  and,  unless  such [creator] person is the sole trustee, by at least one
     7  trustee thereof, in the manner required by the laws of  this  state  for
     8  the  recording  of  a  conveyance  of real property or, in lieu thereof,
     9  executed in the presence of two witnesses who shall affix  their  signa-
    10  tures to the trust instrument.
    11    §  2.    This act shall take effect immediately and shall apply to all
    12  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