{"jurisdiction": "us-ny", "code": "eptl", "section": "7-1.18", "citation": "EPTL § 7-1.18", "heading": "Funding of lifetime trust", "text": ["§ 7-1.18 Funding of lifetime trust", "A lifetime trust shall be valid as to any assets therein to the extent the assets have been transferred to the trust. For purposes of this section, (a) transfer is not accomplished by recital of assignment, holding or receipt in the trust instrument, and (b) in the case of a trust of which the creator is the sole trustee, transfer shall mean in the case of assets capable of registration such as real estate, stocks, bonds, bank and brokerage accounts and the like, the recording of the deed or the completion of registration of the asset in the name of the trust or trustee, and in the case of other assets a written assignment describing the asset with particularity."], "official_source": "https://www.nysenate.gov/legislation/laws/EPT/7-1.18", "from_official_api": true, "plain_english": "A lifetime trust is valid **only as to assets actually transferred into it**. ★ A recital in the trust instrument does not transfer property; when the creator is sole trustee, registrable assets must be recorded or registered to the trust or trustee, and other assets need a particularized written assignment.", "in_force_on": "2026-05-31", "retrieved": "2026-09-27", "url": "https://elyphived.com/us-ny/eptl/7-1.18", "publisher": "Elyphived LLC"}