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The Uniform Simultaneous Death Act is a uniform act enacted in some U.S. states to alleviate the problem of simultaneous death in determining inheritance.. The Act specifies that, if two or more people die within 120 hours of one another, and no will or other document provides for this situation explicitly, each is considered to have predeceased the others.
However, the decedents could write (or have written) a clause in the will that requires their property to be distributed as though each had predeceased the other. Some wills now include Titanic clauses (named for the RMS Titanic, which caused many simultaneous deaths among testators and executors). These clauses lay out explicit instructions ...
A survivorship clause in a will or trust stipulates that beneficiaries can only inherit if they live a certain number of days after the person who made the will or trust dies. These clauses aim to ...
Some states have created a newer form of community property, called "community property with right of survivorship". This form of holding title has some similarities to joint tenancy with right of survivorship. The rules and effect of holding title as community property (or another form of concurrent ownership) vary from state to state.
A survivorship policy can help ensure that this family member will have the funds needed for specialized care after the primary caretakers pass away. What is the difference between joint life and ...
A grandfather clause (or grandfather policy or grandfathering) is a provision in which an old rule continues to apply to some existing situations while a new rule will apply to all future cases. Those exempt from the new rule are said to have grandfather rights or acquired rights , or to have been grandfathered in .
California's Department of Motor Vehicles (DMV) has digitized 42 million car titles using blockchain technology in a bid to detect fraud and smoothen the title transfer process, the agency's ...
At common law, lapse occurs when the beneficiary or the devisee under the will predeceases the testator, invalidating the gift.The gift would instead revert to the residuary estate or be granted under the law of intestate succession.