13 CRR-NY 90.3NY-CRR
13 CRR-NY 90.3
13 CRR-NY 90.3
90.3 Trust or estate with a charitable interest.
For the purposes of this Chapter, trust or estate with a charitable interest (or, in the plural, trusts and estates with a charitable interest) shall mean any trust or estate holding or administering any personal or real property for charitable purposes that is required to register pursuant to the EPTL, other than a wholly charitable trust exempt from Federal income taxation pursuant to code section 501(c).
(a) Estates.
The term trust or estate with a charitable interest includes estates with a charitable interest.
(1) The term estate with a charitable interest includes any estate with a charitable bequest that is either to an unnamed charity or is an unspecified amount (including without limitation a bequest of all or part of the residuary estate) or indefinite property.
(b) Trusts.
The term trust or estate with a charitable interest also includes charitable remainder trusts and charitable lead trusts.
(1) The term charitable remainder trust includes any trust for which a charitable beneficiary has a remainder interest, including without limitation charitable remainder annuity trusts and charitable remainder unitrusts.
(2) The term charitable lead trust includes any trust for which a charitable beneficiary has a lead interest, including without limitation charitable lead annuity trusts and charitable lead unitrusts.
13 CRR-NY 90.3
Current through July 31, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: JULY 31, 2023, is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Admisnistrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of the NYS Rules.