{"jurisdiction": "us-ny", "code": "eptl", "section": "1-2.20", "citation": "EPTL § 1-2.20", "heading": "Lifetime trust", "text": ["§ 1-2.20 Lifetime trust", "The term \"lifetime trust\" shall mean an express trust and all amendments thereto created other than by will and shall not include; a trust for the benefit of creditors, a resulting or constructive trust, a business trust where certificates of beneficial interest are issued to the beneficiary, an investment trust, voting trust, a security instrument such as a deed of trust and a mortgage, a trust created by the judgment or decree of a court, a liquidation or reorganization trust, a trust for the sole purpose of paying dividends, interest, interest coupons, salaries, wages, pensions or profits, instruments wherein persons are mere nominees for others, or a trust created in deposits in any banking institution or savings and loan institution."], "official_source": "https://www.nysenate.gov/legislation/laws/EPT/1-2.20", "from_official_api": true, "plain_english": "A **lifetime trust is an express trust, with its amendments, created other than by will.** It excludes creditor-benefit, resulting, and constructive trusts; business trusts issuing certificates of beneficial interest; investment trusts; voting trusts; security instruments such as a deed of trust or mortgage; court-created, liquidation, or reorganization trusts; trusts solely paying listed income or compensation; nominee arrangements; and bank or savings-and-loan deposit trusts. ★", "in_force_on": "2026-05-31", "retrieved": "2026-09-27", "url": "https://elyphived.com/us-ny/eptl/1-2.20", "publisher": "Elyphived LLC"}