N.Y. Estates, Powers & Trusts Law Section 7-5.7
Multiple beneficiaries


§ 7-5.7 Multiple beneficiaries (a) Whenever any proceeds of a trust account would pass pursuant to section 7-5.2 to two or more beneficiaries, such proceeds shall pass to such beneficiaries in equal proportions, unless the terms of the trust provide otherwise.

(b)

Whenever any proceeds of a trust account would pass pursuant to section 7-5.2 to two or more beneficiaries, and one or more of the beneficiaries predeceases the depositor, such proceeds shall pass to the surviving beneficiary or beneficiaries in equal proportions, unless the terms of the trust provide otherwise.

Source: Section 7-5.7 — Multiple beneficiaries, https://www.­nysenate.­gov/legislation/laws/EPT/7-5.­7 (updated Sep. 22, 2014; accessed Jun. 8, 2024).

Accessed:
Jun. 8, 2024

Last modified:
Sep. 22, 2014

§ 7-5.7’s source at nysenate​.gov

Link Style