EPTL 7-5.7 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 7-5.6 Joint depositors up PART 5 Bank Accounts In Trust Form next SECTION 7-5.8 Application Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 7-5.7 Multiple beneficiaries Estates, Powers & Trusts (EPT) CHAPTER 17-B, ARTICLE 7, PART 5 § 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.