2010 New York Code
EPT - Estates, Powers & Trusts
Article 5 - FAMILY RIGHTS
Part 3 - (5-3.1 - 5-3.4) RIGHTS OF FAMILY UNIT
5-3.1 - 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.
    * NB Effective until January 1, 2011
    * (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,
  jewelry unless disposed of  in  the  will,  clothing  of  the  decedent,
  household furniture and appliances, electronic and photographic devices,
  and  fuel  for  personal  use,  not  exceeding in aggregate value twenty
  thousand  dollars.  This  subparagraph  shall  not  include  items  used
  exclusively for business purposes.
    (2) The family bible or other religious books, family pictures, books,
  computer  tapes,  discs  and  software,  DVDs,  CDs, audio tapes, record
  albums, and other electronic storage devices, including but not  limited

to  videotapes, used by such family, not exceeding in value two thousand
  five hundred dollars.
    (3)  Domestic  and  farm  animals  with their necessary food for sixty
  days, farm machinery, one tractor and one lawn tractor, not exceeding in
  aggregate value twenty thousand dollars.
    (4) The surviving spouse or  decedent's  children  may  acquire  items
  referred  to  in  subparagraphs  (1),  (2) and (3) of this paragraph, in
  excess of the values set forth in such subparagraphs by payment  to  the
  estate  of  the  amount by which the value of the items acquired exceeds
  the amounts set forth in such subparagraphs. If any item so acquired  by
  the  spouse  or  children  of  the  decedent  was  a  specific legacy in
  decedent's will, the payment to the estate for such item shall  vest  in
  the specific legatee.
    (5)  One  motor  vehicle  not  exceeding in value twenty-five thousand
  dollars. In the alternative, if the decedent shall have been  the  owner
  of  one or more motor vehicles each of which exceed twenty-five 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  twenty-five thousand dollars, by payment to the
  estate of the amount by which the value of  the  motor  vehicle  exceeds
  twenty-five  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 twenty-five
  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 twenty-five thousand dollars shall vest in the specific
  legatee.
    (6) Money including but not limited to  cash,  checking,  savings  and
  money  market  accounts, certificates of deposit or equivalents thereof,
  not exceeding in value twenty-five  thousand  dollars,  reduced  by  the
  excess  value,  if  any,  of acquired items referred to in subparagraphs
  (1), (2), (3) and (5) of  this  paragraph.  However,  where  assets  are
  insufficient to pay the reasonable funeral expenses of the decedent, the
  personal  representative  must  first  apply  such  money  to defray any
  deficiency in such expenses.
    (7) Any set off to a child under  the  age  of  twenty-one  years  not
  exceeding  ten  thousand  dollars  shall be covered by the provisions of
  section twenty-two hundred twenty of the surrogate's court procedure act
  as if the child were a beneficiary of the  estate.  Any  excess  amounts
  shall be governed by the guardianship statute, if applicable.
    (8)  The court shall have the authority to issue such documentation as
  necessary to effectuate the transfer of any items under this section.
    * NB Effective January 1, 2011
    (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.