2006 New York Code - Execution, Amendment And Revocation Of Lifetime Trusts



 
  § 7-1.17 Execution, amendment and revocation of lifetime trusts
    (a) Every lifetime trust shall be in writing and shall be executed and
  acknowledged by the initial creator and, unless such creator is the sole
  trustee,  by at least one trustee thereof, in the manner required by the
  laws of this state for the recording of a conveyance  of  real  property
  or, in lieu thereof, executed in the presence of two witnesses who shall
  affix their signatures to the trust instrument.
    (b)  Any  amendment  or revocation authorized by the trust shall be in
  writing and executed by the person authorized to  amend  or  revoke  the
  trust,  and  except  as  otherwise provided in the governing instrument,
  shall be acknowledged or witnessed in the manner required  by  paragraph
  (a)  of  this  section,  and  shall  take  effect as of the date of such
  execution. Written notice of  such  amendment  or  revocation  shall  be
  delivered  to at least one other trustee within a reasonable time if the
  person executing such amendment or revocation is not the  sole  trustee,
  but  failure  to  give  such notice shall not affect the validity of the
  amendment or revocation or the date upon which same shall  take  effect.
  No  trustee  shall be liable for any act reasonably taken in reliance on
  an existing trust instrument  prior  to  actual  receipt  of  notice  of
  amendment or revocation thereof.

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