N.Y. EPT Law § 2-1.15
This is the official text of N.Y. EPT Law § 2-1.15, part of New York’s EPT Law — part of the compiled statutory law of New York, published by the state as "EPT Law." Browse the sections below, each linked to its official government source.
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Consequences of partly ineffective dispositions of trust
Official statutory text
§ 2-1.15 Consequences of partly ineffective dispositions of trust\nprincipal to two or more beneficiaries\n Whenever the remainder of a lifetime or testamentary trust passes,\nwhether outright or in further trust, to two or more designated\nbeneficiaries, and such remainder is ineffective in part and no\neffective alternative disposition has been made in the governing\ninstrument, such ineffective part shall pass to the other designated\nbeneficiary or, if there are two or more other designated beneficiaries,\nto such beneficiaries in the proportions that their respective interests\nin such principal bear to the aggregate of the interests of such\ndesignated beneficiaries in such principal.\n
Status: in_force · Read it on the official government site
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