§2-701. Scope In the absence of a finding of a contrary intention, the rules of construction in this Part control the construction of a governing instrument. The rules of construction in this Part apply to a governing instrument of any type, except as the application of a particular section is limited by its terms to […]
§2-702. Requirement of survival by 120 hours 1. Requirement of survival by 120 hours under Code. For the purposes of this Code, except as provided in subsection 4, an individual who has not been established by clear and convincing evidence to have survived an event, including the death of another individual, by 120 hours is […]
§2-703. Choice of law as to meaning and effect of governing instrument The meaning and legal effect of a governing instrument is determined by the local law of the state selected in the governing instrument, unless the application of that law is contrary to the provisions relating to the elective share described in Part 2, […]
§2-704. Power of appointment; compliance with specific reference requirement A powerholder’s substantial compliance with a formal requirement of appointment imposed in a governing instrument by the donor, including a requirement that the instrument exercising the power of appointment make reference or specific reference to the power, is sufficient if: [PL 2017, c. 402, Pt. […]
§2-705. Class gifts construed to accord with intestate succession; exceptions 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. “Distribution date” means the date when an immediate or postponed class gift takes effect in possession or enjoyment. [PL 2017, c. 402, Pt. […]
§2-706. Life insurance; retirement plan; account with POD designation; TOD designation; deceased beneficiary 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. “Alternative beneficiary designation” means a beneficiary designation that is expressly created by the governing instrument and, under the terms of the […]
§2-707. Survivorship with respect to future interests under terms of trust; substitute takers 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. “Alternative future interest” means an expressly created future interest that can take effect in possession or enjoyment instead of another future […]
§2-708. Class gifts to “descendants,” “issue” or “heirs of the body”; form of distribution if none specified If a class gift in favor of “descendants,” “issue” or “heirs of the body” does not specify the manner in which the property is to be distributed among the class members, the property is distributed among the class […]
§2-709. Per capita at each generation; per stirpes or by representation 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. “Deceased child” or “deceased descendant” means a child or a descendant, respectively, who either predeceased the distribution date or is deemed to have […]
§2-710. Worthier-title doctrine abolished The doctrine of worthier title is abolished as a rule of law and as a rule of construction. Language in a governing instrument describing the beneficiaries of a disposition as the transferor’s “heirs,” “heirs at law,” “next of kin,” “distributees,” “relatives” or “family,” or language of similar import, does not create […]
§2-711. Interests in “heirs” and like If an applicable statute or a governing instrument calls for a present or future distribution to or creates a present or future interest in a designated individual’s “heirs,” “heirs at law,” “next of kin,” “relatives” or “family,” or language of similar import, the property passes to those persons, including […]
