Bill Text: NY S00294 | 2021-2022 | General Assembly | Amended

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Bill Title: Removes the prohibition on individuals convicted of a felony that prevents them from being appointed fiduciary of an estate; allows the court the discretion to permit or prevent such appointment of an individual convicted of a felony.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2021-06-10 - SUBSTITUTED BY A2573A [S00294 Detail]

Download: New_York-2021-S00294-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                         294--A
            Cal. No. 522

                               2021-2022 Regular Sessions

                    IN SENATE

                                       (Prefiled)

                                     January 6, 2021
                                       ___________

        Introduced  by  Sens.  MYRIE, JACKSON -- read twice and ordered printed,
          and when printed to be committed to  the  Committee  on  Judiciary  --
          reported  favorably  from  said committee, ordered to first and second
          report, ordered to a third reading,  amended  and  ordered  reprinted,
          retaining its place in the order of third reading

        AN  ACT  to  amend  the  surrogate's court procedure act, in relation to
          removing the prohibition on individuals convicted  of  a  felony  that
          prevents them from being appointed fiduciary of an estate

          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:

     1    Section 1. Paragraphs (d) and (e) of subdivision 1 and  subdivision  2
     2  of  section 707 of the surrogate's court procedure act, paragraph (e) of
     3  subdivision 1 as amended by chapter 514 of the laws of 1993, are amended
     4  to read as follows:
     5    (d)  [a felon
     6    (e)] one who does not possess the qualifications required of a fiduci-
     7  ary by reason of substance  abuse,  dishonesty,  improvidence,  want  of
     8  understanding,  or  who  is  otherwise  unfit  for  the execution of the
     9  office.
    10    2.  Persons ineligible in court's discretion.  The court  may  declare
    11  ineligible to act as fiduciary:
    12    (a) a person unable to read and write the English language; or
    13    (b)  an individual convicted of a felony whose crime may be adverse to
    14  the welfare of the estate, including but not limited to, crimes such  as
    15  embezzlement or any crime where there was a misappropriation of money or
    16  a breach of fiduciary duty.
    17    § 2. This act shall take effect immediately.


         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02510-03-1