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History
- Signed chap.545
- Delivered to governor
- Returned to senate
- Passed assembly
- Ordered to third reading rules cal.115
- Substituted for A11255
- Referred to judiciary
- Delivered to assembly
- Passed senateVote 61–0
- Advanced to third reading
- 2nd report cal.
- 1st report cal.819
Show 1 earlier action
- Referred to judiciary
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Establishes a two year statute of limitations in seeking relief from a default in exercising an elective share
Assembly Floor Calendar · Sponsor Daniel O'Donnell
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S8057
Title of bill
An act to amend the estates, powers and trusts law, in relation to the right of election by surviving spouse
Purpose of bill
To clarify that a surviving spouse's right of election under EPTL §5-1.1-A must be exercised within two years of the deceased's spouse's death, except that a court may, in its discretion for good cause shown, extend the time for a surviving spouse to exercise such right.
Summary of provisions of bill
The bill amends subparagraphs (1) and (2) of §5-1.1-A(d) (2), to limit a surviving spouse's election to two years after the decedent's date of death. An exception would also provide that, in cases where the surviv- ing spouse demonstrates good cause, the court in its discretion may extend such date beyond the two year limitation.
Justification
EPTL §5-1.1-A gives a surviving spouse a "right of election" against the estate of a predeceased spouse. Specifically, a surviving spouse may elect to take an "elective share" of the deceased spouse's estate, rath- er than accept what was left to him or her under the decedent's will. That elective share, as defined in EPTL §5-1.1-A(a) (2), is an amount equal to the greater of $50,000 or one-third of the net estate.
Subdivision (d) of §5-1.1-A sets forth the procedure for a surviving spouse to exercise that right of election. Subdivision (1) requires the election to be made within six months of the date of issuance of letters testamentary or administration, but in no event later than two years after the date of decedent's death. Subdivision (2) allows a Surrogate's Court to extend the time to make such election. However, questions have arisen as to whether that extension of time may be granted beyond more than two years from the decedent's date of death. The bill would amend subdivisions (1) and (2) to cap the permitted extension of time to two years from the decedent's date of death, unless the court extends that time period for good cause shown.
Legislative history
New Bill, 2010.
Fiscal implications for state and local governments
None.
Effective date
January 1st next succeeding the date it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.