{"data":{"id":"us-ny/n.y.-estates-powers-trusts-law-2-1.12","jurisdiction":"us-ny","citation":"N.Y. Estates, Powers \u0026 Trusts Law § 2-1.12","heading":"Credit shelter formula bequests","body":"§ 2-1.12 Credit shelter formula bequests\n  If: (a) the decedent dies after January thirty-first, two thousand;\nand\n  (b) by reason of the death of the decedent property passes or is\nacquired from the decedent under a will executed or a trust created\nprior to February first, two thousand which contains a formula\nproviding, in sum or substance, for a bequest of the maximum amount of\nproperty that can be sheltered from federal estate tax by reason of\navailable credits against such tax; and\n  (c) such formula was not amended at any time after January\nthirty-first, two thousand and before the death of the decedent,\nthen, unless the instrument containing such formula specifically\nprovides that there are non-tax reasons for taking the federal credit\nfor state death taxes into account, such formula shall be deemed not to\ninclude a reference to the federal credit for state death taxes.","path":["Estates, Powers \u0026 Trusts Law","Article 2. Rules Governing Dispositions Subject to This Law","Part 1. Substantive Rules Governing Dispositions"],"source_url":"https://legislation.nysenate.gov/api/3/laws/EPT/2-1.12","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:44Z","sha256":"525d05aa9781205a072c33da8fbe7a5422217c85f311d7028d5067cf70aa139b","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-estates-powers-trusts-law-2-1.11","next":"us-ny/n.y.-estates-powers-trusts-law-2-1.13"},"notice":"GroundRules: Original legal text. Not legal advice."}