Statute · New York Estates, Powers & Trusts Law
N.Y. Est. Powers & Trusts Law § 7-5.7 — Multiple beneficiaries
N.Y. Est. Powers & Trusts Law § 7-5.7
- Type
- Statute
- Source
- New York Estates, Powers & Trusts Law
- Jurisdiction
- New York
- Current through
- Nov 5, 2026 (NY Senate Open Legislation)
§ 7-5.7 Multiple beneficiaries
Citator
N.Y. Est. Powers & Trusts Law § 7-5.7 — Multiple beneficiaries is in force in the current edition of the Code, and nothing recorded condemns it.
§ 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.