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New York · Through 2026-09-11

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

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Where this section sits in the code
  1. Estates, Powers & Trusts Law
  2. Article 7. Trusts
  3. Part 5. Bank Accounts In Trust Form

§ 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.

Collected 2026-09-14T19:32:44Z. Source file · JSON

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