New York Estates, Powers & Trusts - Part 1 - § 7-1.18 Funding of Lifetime Trust
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§ 7-1.18 Funding of lifetime trust
A lifetime trust shall be valid as to any assets therein to the extent
the assets have been transferred to the trust. For purposes of this
section, (a) transfer is not accomplished by recital of assignment,
holding or receipt in the trust instrument, and (b) in the case of a
trust of which the creator is the sole trustee, transfer shall mean in
the case of assets capable of registration such as real estate, stocks,
bonds, bank and brokerage accounts and the like, the recording of the
deed or the completion of registration of the asset in the name of the
trust or trustee, and in the case of other assets a written assignment
describing the asset with particularity.
Section: 7-1.5 7-1.6 7-1.7 7-1.8 7-1.9 7-1.10 7-1.11 7-1.12 7-1.13 7-1.14 7-1.15 7-1.16 7-1.17 7-1.18 7-1.19
Last modified: February 15, 2012
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