In re Schlesinger

OPINION OF THE COURT

Renee R. Roth, S.

This is an application under the recently enacted "trust splitting” statute, EPTL 7-1.13 (L 1995, ch 523, eff Aug. 2, 1995), to sever a revocable trust established in 1983 by decedent Anna M. Schlesinger for her life income benefit.

We turn first to the new statute which authorizes trust splitting by three different methods, namely, by the fiduciary without court approval or the consent of the beneficiaries; by the fiduciary with the consent of the interested parties; by the court. Before EPTL 7-1.13 was enacted, a trust could not be *939split without court…