New York S08367 increases the value of a motor vehicle exempt from the provisions of a will or intestate distribution for the benefit of the family.

New York S08367 amends the estates, powers and trusts law to increase the value of a motor vehicle exempt from the provisions of a will or intestate distribution for the benefit of the family of a decedent. Specifically, it allows the surviving spouse or children to acquire one motor vehicle from the estate, regardless of the value of other vehicles owned by the decedent. If the vehicle exceeds $50,000, the spouse or children can elect to receive cash instead.

New York S08367 increases the value of a motor vehicle exempt from the provisions of a will or intestate distribution for the benefit of the family.

New York S08367 amends the estates, powers and trusts law to increase the value of a motor vehicle exempt from the provisions of a will or intestate distribution for the benefit of the family of a decedent. Specifically, it allows the surviving spouse or children to acquire one motor vehicle from the estate, regardless of the value of other vehicles owned by the decedent. If the vehicle exceeds $50,000, the spouse or children can elect to receive cash instead.