NYLE Trusts, Wills & Estates 4

Question 1

A New York testator executes a valid will and later executes a codicil that is witnessed only by one person. The codicil:

Accepted Answer

Is invalid because New York requires two witnesses for any testamentary instrument

Answer

Under EPTL § 3-2.1, a codicil must comply with the same formalities as a will, including the signature of two witnesses.

Question 2

Under New York law, a spendthrift trust provision is effective to protect trust assets from:

Accepted Answer

Claims of the beneficiary's creditors while assets remain in trust

Answer

A spendthrift clause under EPTL § 7-1.5 prevents voluntary or involuntary transfer of the beneficiary's interest and protects against most creditors, though not all (e.g., government claims, family support obligations).

Question 3

In New York, the doctrine of 'dependent relative revocation' applies when:

Accepted Answer

A testator revokes a will based on a mistaken belief that another valid will exists

Answer

Dependent relative revocation treats a revocation as conditional when it is based on a mistake of fact or law, allowing reinstatement of the prior will if the new disposition fails.

Question 4

Under New York EPTL § 3-3.3, the anti-lapse statute applies to save a bequest from failing due to the predeceasing beneficiary if the beneficiary was:

Accepted Answer

The testator's issue or sibling (or their issue)

Answer

New York's anti-lapse statute (EPTL § 3-3.3) only applies to gifts to the testator's issue or siblings, allowing the gift to pass to the deceased beneficiary's descendants.

Question 5

A New York trustee wishes to resign. Under EPTL § 7-2.6, how may a trustee properly resign?

Accepted Answer

By court order or as specified in the trust instrument

Answer

Under EPTL § 7-2.6, a trustee may resign by court order or pursuant to a provision in the trust instrument permitting resignation.

NYLE - New York Law Exam Practice Test

NYLE - New York Law Exam Practice Test

NYLE Trusts, Wills & Estates 4