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2021 New York Laws
EPT - Estates, Powers and Trusts
Article 3 - Substantive Law of Wills
Part 3 - Rules Governing Testamentary Dispositions
3-3.9 - Testamentary Direction to Purchase Annuities

Universal Citation:
NY Est Pow & Trusts L § 3-3.9 (2021)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
§ 3-3.9 Testamentary direction to purchase annuities

If a testator directs in his will the purchase of an annuity, the beneficiaries to whom the income thereof is to be paid may not elect to take the capital sum directed to be used for the purchase of such annuity in lieu thereof, unless the will expressly confers such right or except as the will expressly provides for the purchase of an assignable annuity. But nothing contained herein shall impair the right of election by a surviving spouse under 5-1.1 or 5-1.1-A.


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