Introduction

• Author: Seymour Goldberg
• Profession: Senior partner in the law firm of Goldberg & Goldberg, PC in Woodbury, New York
• Pages: 7-7

vii

This manual covers a number of the basic rules that involve the applica-

tion of the revised trust laws in New York State.

For the most part, the text consists of many examples and suggested

solutions. Most of the answers refer to the appropriate provisions under

the New York State law.

The following citations that are used frequently throughout the

manual include:

(1)

EPTL—This refers to the New York State Estates, Powers and

Trusts Law

(2)

UPAIA—This refers to the New York State Uniform Principal and

Income Act

(3) SCPA—This refers to the New York State Surrogate’s Court Pro-

cedure Act

New York State trust law permits the power of adjustment rules to apply.

It is not part of the New York State version of the UPAIA. It is part of

the prudent investor act and can be found in EPTL 11–2.3. The unitrust

concept is applicable under existing New York State trust law. It is not

part of the New York State version of the UPAIA. It is called the optional

unitrust provision and can be found in EPTL 11–2.4.

Although the revised New York State trust laws and other changes are

generally effective as of January 1, 2002, it is probable that technical cor-

rections and other changes to these trust laws will be made from time to

time. As a practitioner, you must stay current.

A number of technical corrections to the New York State trust laws

were made effective as of August 5, 2008.

Introduction

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