Bill > S07498

This bill provides a legal mechanism for establishing the existence of a lost or destroyed trust in New York's Surrogate's Court. Specifically, the bill outlines the requirements for proving such a trust, which include demonstrating that the trust was properly executed, has not been revoked, and can be substantiated through either a true and complete copy/draft or by establishing key details such as the trustee, beneficiaries, trust provisions, and proof of asset transfer. The bill creates legal presumptions in favor of the trust's proper execution and continued existence, shifting the burden of proof depending on who is challenging the trust. To ensure fairness and transparency, the bill mandates that specific parties must be notified of any proceeding to establish or challenge the trust, including nominated trustees, beneficiaries, the settlor's distributees, estate fiduciaries, will beneficiaries, and the attorney general (particularly in cases involving charitable trusts or unknown persons). This legislation aims to provide a clear, structured process for validating trusts that have been lost or destroyed, protecting the intent of the original trust creator while offering a balanced approach to verification.

Justice

https://www.nysenate.gov/legislation/bills/2025/S7498