Variations to Testate Distributions

Question 1

Lifetime Gift to Beneficiary- “Satisfaction of Legacies”

Answer 1

NY has rejected the satisfaction by legacies presumption.

There is no satisfaction of legacy unless proved by

(a) a contemporaneous writing made at time of gift, AND
(b) signed by donor or donee

Question 2

Incorporation by Reference- Extrinsic Documents

Answer 2

NY does not recognize incorporation by reference, everything must be formally executed

Question 3

Acts of Independent Significance (“Nontestamentary acts”)

Answer 3

Acts performed by T after the will is executed which have a purpose or motive independent of any testamentary purpose are given full effect when distributions are made

exceptions- title documents can only be transferred as mandated by law (e.g., deeds, stock certificates, bank passbooks)