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S08057 Summary:

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S08057 Floor Votes:

S08057 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          8057
 
                    IN SENATE
 
                                      June 3, 2010
                                       ___________
 
        Introduced  by  Sen.  SAVINO -- 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
          right of election by surviving spouse
 
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
 

     1    Section 1. Subparagraphs 1 and 2 of paragraph (d) of  section  5-1.1-a
     2  of  the estates, powers and trusts law, as amended by chapter 515 of the
     3  laws of 1993, are amended to read as follows:
     4    (1) An election under this section must be made within six months from
     5  the date of issuance of letters testamentary or  of  administration,  as
     6  the  case may be, but in no event later than two years after the date of
     7  decedent's death, except as otherwise provided in subparagraph 2 of this
     8  paragraph. Written notice of such election  shall  be  served  upon  any
     9  personal  representative in the manner herein provided, or upon a person
    10  named as executor in a will on file in the surrogate's court in  a  case
    11  where  such  will has not yet been admitted to probate, and the original
    12  thereof shall be filed and recorded,  with  proof  of  service,  in  the

    13  surrogate's  court  in  which such letters were issued within six months
    14  from the date of the issuance of letters but in no event later than  two
    15  years from the date of decedent's death, except as otherwise provided in
    16  subparagraph  2 of this paragraph.  Such notice may be served by mailing
    17  a copy thereof, addressed to any  personal  representative,  or  to  the
    18  nominated executor, as the case may be, at the place of residence stated
    19  in  the  designation  required  by [SCPA] section 708 of the surrogate's
    20  court procedure act or in such other manner as the surrogate may direct.
    21    (2) The time to make such election may be extended  before  expiration
    22  by  an order of the surrogate's court from which such letters issued for
    23  a further period not exceeding six months upon any one  application.  If

    24  the  spouse defaults in filing such election within the time provided in
    25  subparagraph [(d)] (1) of this  paragraph,  the  surrogate's  court  may
    26  relieve  the  spouse  from  such  default and authorize the making of an
    27  election within the period fixed by the order, provided that  no  decree
    28  settling  the  account  of the personal representative has been made and
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD17513-01-0
        S. 8057                             2
 
     1  that twelve months have not elapsed since the issuance of  the  letters,
     2  and  two  years  have not elapsed since the decedent's date of death, in

     3  the case of initial application; except  that  the  court  may,  in  its
     4  discretion  for  good cause shown, extend the time to make such election
     5  beyond such period of two years.   An application for  relief  from  the
     6  default and for an extension of time to elect shall be made upon a peti-
     7  tion  showing reasonable cause and on notice to such persons and in such
     8  manner as the surrogate may direct. A certified copy of such order shall
     9  be indexed and recorded in the same manner as a notice of pendency of an
    10  action in the office of the clerk of each county in which real  property
    11  of the decedent is situated.
    12    §  2. This act shall take effect on the first of January next succeed-
    13  ing the date on which it shall have become a law.