Statutes, codes, and regulations
Consolidated Laws of New York
Chapter - ESTATES, POWERS AND TRUSTSArticle 2 - RULES GOVERNING DISPOSITIONS SUBJECT TO THIS LAW
Part 1 - SUBSTANTIVE RULES GOVERNING DISPOSITIONS
Section 2-1.15 - Consequences of partly ineffective dispositions of trust principal to two or more beneficiaries

N.Y. EPTL 2-1.15

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Current through 2024 NY Law Chapter 457
Section 2-1.15 - Consequences of partly ineffective dispositions of trust principal to two or more beneficiaries

Whenever the remainder of a lifetime or testamentary trust passes, whether outright or in further trust, to two or more designated beneficiaries, and such remainder is ineffective in part and no effective alternative disposition has been made in the governing instrument, such ineffective part shall pass to the other designated beneficiary or, if there are two or more other designated beneficiaries, to such beneficiaries in the proportions that their respective interests in such principal bear to the aggregate of the interests of such designated beneficiaries in such principal.

N.Y. EPTL 2-1.15