NYLE - New York Law Exam NY Trusts, Wills & Estates 1

Question 1

Under New York EPTL 3-4.1, which of the following is a valid method to revoke a previously executed will?

Accepted Answer

Physically burning, tearing, or obliterating the will with the intent to revoke it

Answer

EPTL 3-4.1 permits revocation of a will by (1) a subsequent will or codicil, or (2) a physical act such as burning, tearing, cutting, canceling, obliterating, or destroying the will, performed by the testator or by another at the testator's direction and in the testator's presence, with intent to revoke. An oral declaration alone is insufficient.

Question 2

Under New York EPTL 3-3.3, the anti-lapse statute applies when a testamentary beneficiary predeceases the testator. For the statute to substitute the deceased beneficiary's issue, the beneficiary must be:

Accepted Answer

A grandparent or a descendant of a grandparent of the testator

Answer

EPTL 3-3.3 prevents lapse only when the predeceased beneficiary was a grandparent or a descendant of a grandparent of the testator (i.e., relatives within the testator's family tree). If the beneficiary qualifies, the gift passes to that beneficiary's issue by representation rather than falling into the residuary estate.

Question 3

Under New York EPTL 7-3.1, which statement correctly describes the effect of a valid spendthrift trust provision?

Accepted Answer

The beneficiary's interest cannot be voluntarily transferred or reached by creditors before distribution

Answer

EPTL 7-3.1 provides that a valid spendthrift provision restrains both voluntary transfer by the beneficiary and involuntary seizure by creditors. The beneficiary's interest is protected until funds are actually distributed. Exceptions exist for certain claims such as court-ordered child support or spousal maintenance.

Question 4

Under New York EPTL 7-1.17, what is required for the creation of a valid inter vivos (living) trust in New York?

Accepted Answer

A written instrument signed by the grantor, but no witnesses are required

Answer

EPTL 7-1.17 requires that an inter vivos trust be in writing and signed by the grantor. Unlike a will under EPTL 3-2.1, a living trust does NOT require two witnesses. No court filing is necessary for the trust to become effective.

Question 5

Under New York EPTL 2-1.6, the Uniform Simultaneous Death Act, if two individuals die in a common accident and it cannot be determined who survived the other, how is their property distributed?

Accepted Answer

Each person is deemed to have predeceased the other for purposes of distributing that person's own property

Answer

Under EPTL 2-1.6, when two persons die simultaneously or under circumstances making it impossible to determine the order of death, each is treated as having predeceased the other solely for purposes of distributing that individual's property. New York also applies a 120-hour survival requirement — a beneficiary must survive the decedent by 120 hours to take.

NYLE - New York Law Exam Practice Test

NYLE - New York Law Exam Practice Test

NYLE - New York Law Exam NY Trusts, Wills & Estates 1