Bill Text: NY A02573 | 2021-2022 | General Assembly | Amended

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Bill Title: Removes the prohibition on individuals convicted of a felony that prevents them from being appointed fiduciary of an estate; allows the court the discretion to permit or prevent such appointment of an individual convicted of a felony.

Spectrum: Partisan Bill (Democrat 12-0)

Status: (Passed) 2021-10-22 - signed chap.486 [A02573 Detail]

Download: New_York-2021-A02573-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         2573--A

                               2021-2022 Regular Sessions

                   IN ASSEMBLY

                                    January 19, 2021
                                       ___________

        Introduced  by  M.  of  A.  FALL,  DICKENS, WILLIAMS, SAYEGH, GOTTFRIED,
          O'DONNELL, EPSTEIN, BARRON, PICHARDO -- Multi-Sponsored by -- M. of A.
          COOK -- read once and  referred  to  the  Committee  on  Judiciary  --
          committee  discharged,  bill amended, ordered reprinted as amended and
          recommitted to said committee

        AN ACT to amend the surrogate's court  procedure  act,  in  relation  to
          removing  the  prohibition  on  individuals convicted of a felony that
          prevents them from being appointed fiduciary of an estate

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  Paragraphs (d) and (e) of subdivision 1 and subdivision 2
     2  of section 707 of the surrogate's court procedure act, paragraph (e)  of
     3  subdivision 1 as amended by chapter 514 of the laws of 1993, are amended
     4  to read as follows:
     5    (d)  [a felon
     6    (e)] one who does not possess the qualifications required of a fiduci-
     7  ary  by  reason  of  substance  abuse, dishonesty, improvidence, want of
     8  understanding, or who is  otherwise  unfit  for  the  execution  of  the
     9  office.
    10    2.    Persons ineligible in court's discretion.  The court may declare
    11  ineligible to act as fiduciary:
    12    (a) a person unable to read and write the English language; or
    13    (b) an individual convicted of a felony whose crime may be adverse  to
    14  the  welfare of the estate, including but not limited to, crimes such as
    15  embezzlement or any crime where there was a misappropriation of money or
    16  a breach of fiduciary duty.
    17    § 2. This act shall take effect immediately.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02510-02-1