Many of you have been waiting for word of passage on this New York State bill. We have confirmed that the bill has been signed, however the Governor has not released a date of signing, nor a Chapter number for it. We will get that information to you when the Governor feels like releasing it to the public.
A.9050-B: Bibliography of Related Materials
PRINCIPAL & INCOME ACT REVISION
(Modifies the definition of trust accounting income to
redefine appropriate benefit currently distributable.)
The Fifth report of the EPTL-SCPA Legislative Advisory Committee, Proposed Changes to the Definition of Trust Accounting, To Redefine Appropriate Benefit Currently Distributable, with Exhibits, May 11, 1999, 467 pages (itemized below)
Exhibit 1: Memorandum In Support of the Proposed Legislation, 13
Exhibit 2(A): Proposed EPTL 11-2.3(b) (5) with commentary. Removes §104. 11
Exhibit 2(B): Proposed NY version of Revised Uniform Principal and Income Act with comments. 59
Exhibit 2(C): Proposed EPTL 11-2.4. 5
Exhibit 2(D): Proposed EPTL 11-2.1(m) amendment. 1
Exhibit 2(E): Proposed amendments to SCPA 2308, 2309, & 2312. 1
Exhibit 2(F): Proposed EPTL 7-1.113, adds (k). 1
Exhibit 3: Committee's Bibliography. 12
Exhibit 4: Defeating the Duty to Disappoint Equally: The Total Return Trust-Trustees Unchained by Robert B. Wolf, NYSBA Vol. 31, No.3 (Fall 1998). 30
Exhibit 5: Memo on Evolution of §104 of 1997 Revised Uniform Principal & Income Act with Exhibits. 12
A(2): Proposed EPTL 11-2.3(b) (5) with commentary. Removes §104. 18
2(B): Proposed NY version of Revised Uniform Principal & Income Act with comments, added and deleted language and footnotes. 62
A(3): Notes for Preliminary Letter to the Treasury Department on Behalf of the EPTL-SCPA Legislative Advisory Committee with Respect to its Fifth Report. 8
A(4): Legislative Findings & Purpose - Net Income Definition. 2
C(1): The Problem With Unitrusts, report & letter, James P. Garland of the Jeffrey Company. 29
C(2): 62 Alb. L. Rev.543, Changes In The Role And The Form Of The Trust At The New Millenium, Or, We Don't Have to Think of England Anymore, Joel C. Dobris. 32
C(3): Coudert Brothers letter on proposed changes of Trust Accounting Income Definition. 2
C(4): Forbes, March 8, 1999 Article; In Growth We Trust by Carrie Coolidge. 3
C(5): [Speaking Outline] A New ABCD of Trust Design: Proposed Changes to the Definition of Trust Accounting Income, to Redefine Appropriate Benefit Currently Distributable, The Fifth Report of the EPTL-SCPA Legislative Advisory Committee for the Estate Analysts of Western New York by Arthur M. Sherwood, March 1, 1999. 27
C(6): "Lightening Up" Trusts to Provide Appropriate Benefit to Trust Beneficiaries by Authur M. Sherwood, April 26, 1998. 5
C(7): The Journal of Investing Article, Income Versus Wealth: Making the Trade-Off by Roger Hertog & David A. Levine, Spring 1996. 16
C(8): Comments on Proposed Unitrust Legislation, David Levine, April 6, 1999. 10
C(9): Robert B. Wolf Memo on Unitrust Distribution Formulas & C(8)'s comments, 5-4-99. 15 Author M. Sherwood Memo on 5th Report, 5-6-99, with a revised Exhibit 3, 5-12-99. 13 pages
Explanation of the Unitrust Default Provision, Proposed EPTL 11-2.4. 17 pages
Exhibit 2(B), Proposed NY version of Revised Uniform Principal & Income Act. October
1999 revision. 61 pages
Proposed EPTL 11-2.4, Unitrust Default Provision, October 1999 Revision, 6 pages
*Supplement to Fifth Report of the EPTL-SCPA Legislative Advisory Committee, Proposed Amendments to 1999 Assembly Bill 9073, May 26, 2000. 22 pages
Discussion Second Draft, The Fifth report of the EPTL-SCPA Legislative Advisory Committee, Proposed Changes to the Definition of Trust Accounting, To Redefine Appropriate Benefit Currently Distributable, Revised as of October 16, 1998. Similar to final report (above). 154 pages
NYSBA, Trusts and Estates Law Section Annual Meeting, Material Jan. 26, 2000:
Unitrust as Default Legislation, Linda B. Hirschson, Esq. Greenberg Traurig, NYC. 25 pages
The Uniform Principal & Income Act (1997) comments, E. James Gamble, Esq., Gamble, Rosenberger & Joswick LLP, Bloomfield, Michigan. 11 pages
Chapter 8 of 1998 Institute on Estate Planning, If It's The 1990's, It Must Be Time For Another Principal and Income Act, James Gamble. 41 pages
The Power of Adjustment in the 1997 Uniform Principal and Income Act, Susan Porter, Esq., United States Trust Company of New York, NYC, 39 pages
The Total Return Unitrust - A (Tru) Solution For Today's #1 Trust Problem, Robert B. Wolf, Esq., Tener, Van Kirk, Wolf & Moore, P.C., Pittsburgh, Pa. Reports, Graphs. 132 pages
Report of the Section's Ad Hoc Committee to the Executive Committee on the Fifth Report of the Legislative Advisory Committee, NYSBA. 22 pages
*The Association of the Bar of the City of New York, Committee on Trusts, Estates & Surrogate's Courts, Report on proposed Legislation. 12 pages
A Market-Yield Spending Rule Revisited: An Update Through 1998, An Article by James Garland 7 pages
1999-2000 A.9073 bill text with *sponsor's memo. 22 pages
2001, A.9050, *A.9050-A, *A.9050-B texts with sponsor's memos. 22 - 66
*New York State Bar Association Legislative Report No.50 (A.9050). 4 pages & Report No.50-A, (S.5531/A.9050-A) 4 pages
We have selectively compiled a LEGISLATIVE HISTORY of the most relevant materials (56 pages):
* The Association of the Bar of the City of New York, Committee on Trusts, Estates & Surrogate's Courts, Report on proposed Legislation. 12 pages
* New York State Bar Association Legislative Report No.50 (A.9050) & Report No.50-A, (S.5531/A.9050-A) 4 pages
* A.9073 sponsor's memo
* A.9050-B sponsor's memo
* Supplement to Fifth Report of the EPTL-SCPA Legislative Advisory Committee, Proposed Amendments to 1999 Assembly Bill 9073, May 26, 2000. 22 pages
Total of all the above: 1024 pages
For more information call Steve Harvey.
New York Legislative Service, Inc.
"The research specialists on legislative intent and current legislation."
A New York not-for-profit corporation.
(212) 962-2826 www.nyls.org
Private replies: nylegal@nyls.org
This archive was generated by hypermail 2b29 : Wed Nov 14 2007 - 20:36:19 PST