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Legal Opinion

Matter of Heller

New York Court of Appeals

Decided May 4, 2006PublishedCited by 12 opinions

1Opinion of the Court

OPINION OF THE COURT

Rosenblatt, J.

In September 2001, New York enacted legislation that transformed the definition and treatment of trust accounting income. The Uniform Principal and Income Act (EPTL art 11-A) and related statutes (L 2001, ch 243), including the optional unitrust provision (EPTL 11-2.4), are designed to facilitate investment for total return on a portfolio. The appeal before us centers on the optional unitrust provision, which permits trustees to elect a regime in which income is calculated according to a fixed formula and based on the net fair market value of the trust…

2Cases cited1 opinion

  1. Birnbaum v. BirnbaumNew York Court of Appeals · 1989

3Cited by12 opinions

  1. Ellington Credit Fund, Ltd. v. Select Portfolio Servicing, Inc.District Court, S.D. New York · 2011
  2. In Re Estate of WallensNew York Court of Appeals · 2007
  3. Lucker v. Bayside CemeteryAppellate Division of the Supreme Court of the State of New York · 2013
  4. In re MankinAppellate Division of the Supreme Court of the State of New York · 2011
  5. Muller-Paisner v. TiaaDistrict Court, S.D. New York · 2012

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