In re the Estate of Beck
Herbert Beck, who died intestate and without known heirs, had established a Totten trust savings account in trust for Camphill Village U.S.A., Inc. Before his death, he withdrew the funds and transferred a significant portion to an individually held certificate of deposit. The Surrogate's Court of Columbia County determined that Beck did not intend to revoke the trust, thus entitling Camphill to the remaining funds. The State of New York appealed, asserting its claim that the funds should escheat to the State due to the absence of heirs. The appellate court reversed, applying new legislation (EPTL 7-5.7) that deems the withdrawal of funds from a Totten trust as a revocation, thereby disallowing Camphill's claim and allowing the Attorney-General's objection.