2006 New York Code - Exemption For Benefit Of Family

 
  § 5-3.1 Exemption for benefit of family
    (a) If a person dies, leaving a surviving spouse or children under the
  age  of twenty-one years, the following items of property are not assets
  of the estate but vest in, and  shall  be  set  off  to  such  surviving
  spouse,  unless  disqualified,  under  5-1.2, from taking an elective or
  distributive share of  the  decedent's  estate.  In  case  there  is  no
  surviving  spouse  or  such  spouse, if surviving, is disqualified, such
  items of property vest in, and  shall  be  set  off  to  the  decedent's
  children under the age of twenty-one years:
    (1)  All  housekeeping  utensils, musical instruments, sewing machine,
  household  furniture  and  appliances,  including  but  not  limited  to
  computers  and  electronic  devices,  used in and about the house, fuel,
  provisions and clothing of the  decedent,  not  exceeding  in  aggregate
  value ten thousand dollars.
    (2)  The  family  bible,  family  pictures,  video tapes, and computer
  tapes, discs, and software used by such family, and books, not exceeding
  in value one thousand dollars.
    (3) Domestic animals with their necessary food for  sixty  days,  farm
  machinery,  one tractor and one lawn tractor, not exceeding in aggregate
  value fifteen thousand dollars.
    (4) One motor vehicle not exceeding in value fifteen thousand dollars.
  In the alternative, if the decedent shall have been the owner of one  or
  more  motor  vehicles  each  of which exceed fifteen thousand dollars in
  value, the surviving spouse or decedent's children may acquire one  such
  motor  vehicle from the estate, regardless of the fact that the decedent
  may also have been the owner of another motor vehicle  of  lesser  value
  than fifteen thousand dollars, by payment to the estate of the amount by
  which  the  value of the motor vehicle exceeds fifteen thousand dollars;
  in lieu of  receiving  such  motor  vehicle,  the  surviving  spouse  or
  children  may  elect  to receive in cash an amount equal to the value of
  the motor vehicle, not to exceed fifteen thousand dollars.  If any motor
  vehicle so acquired by the spouse or children  of  the  decedent  was  a
  specific  legacy  in  decedent's  will, the payment to the estate of the
  amount by which the value of the motor vehicle exceeds fifteen  thousand
  dollars shall vest in the specific legatee.
    (5)  Money  or  other personal property not exceeding in value fifteen
  thousand dollars, except that where assets are insufficient to  pay  the
  reasonable funeral expenses of the decedent, the personal representative
  must  apply  such  money  or  other  personal  property  to  defray  any
  deficiency in such expenses.
    (b) No allowance shall be made in money or other property if the items
  of property described in subparagraph (1), (2), (3) or (4)  are  not  in
  existence when the decedent dies.
    (c)  The  items  of  property,  set  off as provided in paragraph (a),
  shall, at least to the extent thereof, be deemed reasonably required for
  the support of the  surviving  spouse  or  children  under  the  age  of
  twenty-one years of the decedent during the settlement of the estate.
    (d)  As used in this section, the term "value" shall refer to the fair
  market value of each item, reduced by all outstanding security interests
  or other encumbrances affecting the decedent's ownership of said item.