(b) Timing of Disclaimer (1) Testamentary bequests must be disclaimed w/in 9 months of D’s death if a present interest, and 9 months within time of vesting of a future interest. (2) Non-testamentary bequest must be disclaimed w/in 9 months of instrument if a present interest, and 9 months after vesting of a future interest. (3) Surviving Joint Tenant or TE may disclaim as a separate interest by right of survivorship. (d) Effect of Disclaimer (1) If D has not provided for an alternative disposition of the interest, the disclaimed interest treated as if disclaimant predeceased D . If interest is to pass to disclaimants’ descendants by representation had
© Tal Dickstein 2002 10 disclaimant predeceased D, then such interest shall pass by representation accordingly. A disclaimer relates back to the date of the death of D. barb2right So, under UPC you can avoid your creditors by disclaiming after D has died. barb2right There may be anti-lapse issues when beneficiary predeceases D by reason of disclaimer. VIII. Advancements UPC § 2-109 Advancements (a) If an individual dies intestate as to all or a portion of his or her estate, property D gave during D’s lifetime to an individual who, at D’s death is an heir is treated as an advancement against the heir’s intestate share only if (1) D declared in a contemporaneous writing or the heir acknowledge in writing that gift was advancement , or (2) D’s contemporaneous writing on the heir’s written acknowledgment otherwise indicates that the gift is to be taken into account in computing the division and distribution of D’s intestate estate . barb2right UPC reverses common law presumption that a lifetime gift is treated as an advancement. (b) For purposes of §§(a), property advanced is valued at the earlier of - the time the heir came into possession or enjoyment of the property or as of the time D’s death. (c) If recipient of property fails to survive D, the property is not taken into account in computing the division and distribution of D’s intestate estate, unless D’s contemporaneous writing provides otherwise. Effect of Advancements square4 All money distributed to heirs as advancements are added to D’s net estate, except if an heir’s advancements are greater than intestate share, we don’t add that advancement to the net estate. square4 Then, the total amount is divided in accordance with intestate succession among those heirs whose advancements were not in excess of their intestate shares. square4 Amounts already received are charged against the shares of the heirs who received those amounts. square4 If any individual’s advancement is larger than their intestate share, individual is not required to give back any of the advancement.
© Tal Dickstein 2002 11 CHAPTER 4: Wills I. Execution of Wills Will Formalities boxshadowdwn Page Numbers - Prevents insertion or removal of pages.
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- Fall '06
- Inheritance, Intestacy, Will, intestate succession, Tal Dickstein