In re Heller
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Spolzino, J.
This appeal presents two novel issues with respect to the uni-trust provisions of the Estates Powers and Trusts Law (see EPTL 11-2.4), which became effective on January 1, 2002. These changes to New York trust law, which have been characterized by one learned commentator as “sweeping” (Turano, Practice Commentaries, McKinney’s Cons Laws of NY, Book 17B, EPTL 11-2.4, 2005 Pocket Part, at 39), permit a trustee, upon electing unitrust status, to pay to the income beneficiary each year an amount equal to four percent of the value of the trust principal, regardless…
2Cases cited16 opinions
- Zuckerman v. City of New YorkNew York Court of Appeals · 1980
- Alvarez v. Prospect HospitalNew York Court of Appeals · 1986
- Meinhard v. SalmonNew York Court of Appeals · 1928
- Majewski v. Broadalbin-Perth Central School DistrictNew York Court of Appeals · 1998
- Leader v. Maroney, Ponzini & SpencerNew York Court of Appeals · 2001
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3Cited by6 opinions
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- In re CarpenterNew York Surrogate's Court · 2012
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