N.Y. Estates, Powers & Trusts Law Section 1-2.20
Lifetime trust

§ 1-2.20 Lifetime trust The term “lifetime trust” shall mean an express trust and all amendments thereto created other than by will and shall not include; a trust for the benefit of creditors, a resulting or constructive trust, a business trust where certificates of beneficial interest are issued to the beneficiary, an investment trust, voting trust, a security instrument such as a deed of trust and a mortgage, a trust created by the judgment or decree of a court, a liquidation or reorganization trust, a trust for the sole purpose of paying dividends, interest, interest coupons, salaries, wages, pensions or profits, instruments wherein persons are mere nominees for others, or a trust created in deposits in any banking institution or savings and loan institution.

Source: Section 1-2.20 — Lifetime trust, https://www.­nysenate.­gov/legislation/laws/EPT/1-2.­20 (updated Sep. 22, 2014; accessed Dec. 2, 2023).

Dec. 2, 2023

Last modified:
Sep. 22, 2014

§ 1-2.20’s source at nysenate​.gov

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