N.Y. EPT Law § 5-3.1 — New York Code / Act EPT / Article 5 / Part 3 / Section 5-3.1
Exemption for benefit of family
Status: in_force

§ 5-3.1 Exemption for benefit of family\n  (a) If a person dies, leaving a surviving spouse or children under the\nage of twenty-one years, the following items of property are not assets\nof the estate but vest in, and shall be set off to such surviving\nspouse, unless disqualified, under 5-1.2, from taking an elective or\ndistributive share of the decedent's estate. In case there is no\nsurviving spouse or such spouse, if surviving, is disqualified, such\nitems of property vest in, and shall be set off to the decedent's\nchildren under the age of twenty-one years:\n  (1) All housekeeping utensils, musical instruments, sewing machine,\njewelry unless disposed of in the will, clothing of the decedent,\nhousehold furniture and appliances, electronic and photographic devices,\nand fuel for personal use, not exceeding in aggregate value twenty\nthousand dollars. This subparagraph shall not include items used\nexclusively for business purposes.\n  (2) The family bible or other religious books, family pictures, books,\ncomputer tapes, discs and software, DVDs, CDs, audio tapes, record\nalbums, and other electronic storage devices, including but not limited\nto videotapes, used by such family, not exceeding in value two thousand\nfive hundred dollars.\n  (3) Domestic and farm animals with their necessary food for sixty\ndays, farm machinery, one tractor and one lawn tractor, not exceeding in\naggregate value twenty thousand dollars.\n  (4) The surviving spouse or decedent's children may acquire items\nreferred to in subparagraphs (1), (2) and (3) of this paragraph, in\nexcess of the values set forth in such subparagraphs by payment to the\nestate of the amount by which the value of the items acquired exceeds\nthe amounts set forth in such subparagraphs. If any item so acquired by\nthe spouse or children of the decedent was a specific legacy in\ndecedent's will, the payment to the estate for such item shall vest in\nthe specific legatee.\n  (5) One motor vehicle not exceeding in value twenty-five thousand\ndollars. In the alternative, if the decedent shall have been the owner\nof one or more motor vehicles each of which exceed twenty-five thousand\ndollars in value, the surviving spouse or decedent's children may\nacquire one such motor vehicle from the estate, regardless of the fact\nthat the decedent may also have been the owner of another motor vehicle\nof lesser value than twenty-five thousand dollars, by payment to the\nestate of the amount by which the value of the motor vehicle exceeds\ntwenty-five thousand dollars; in lieu of receiving such motor vehicle,\nthe surviving spouse or children may elect to receive in cash an amount\nequal to the value of the motor vehicle, not to exceed twenty-five\nthousand dollars. If any motor vehicle so acquired by the spouse or\nchildren of the decedent was a specific legacy in decedent's will, the\npayment to the estate of the amount by which the value of the motor\nvehicle exceeds twenty-five thousand dollars shall vest in the specific\nlegatee.\n  (6) Money including but not limited to cash, checking, savings and\nmoney market accounts, certificates of deposit or equivalents thereof,\nand marketable securities, not exceeding in value twenty-five thousand\ndollars, reduced by the excess value, if any, of acquired items referred\nto in subparagraphs (1), (2), (3) and (5) of this paragraph. However,\nwhere assets are insufficient to pay the reasonable funeral expenses of\nthe decedent, the personal representative must first apply such money to\ndefray any deficiency in such expenses.\n  (7) Any set off to a child under the age of twenty-one years not\nexceeding ten thousand dollars shall be covered by the provisions of\nsection twenty-two hundred twenty of the surrogate's court procedure act\nas if the child were a beneficiary of the estate. Any excess amounts\nshall be governed by the guardianship statute, if applicable.\n  (8) The court shall have the authority to issue such documentation as\nnecessary to effectuate the transfer of any items under this section.\n  (b) No allowance shall be made in money or other property if the items\nof property described in subparagraph (1), (2), (3) or (5) of paragraph\n(a) are not in existence when the decedent dies.\n  (c) The items of property, set off as provided in paragraph (a),\nshall, at least to the extent thereof, be deemed reasonably required for\nthe support of the surviving spouse or children under the age of\ntwenty-one years of the decedent during the settlement of the estate.\n  (d) As used in this section, the term "value" shall refer to the fair\nmarket value of each item, reduced by all outstanding security interests\nor other encumbrances affecting the decedent's ownership of said item.\n