Arizona Laws 14-2605. Securities increase in value after death; effect; exception
A. If a testator executes a will that devises securities and the testator then owned securities that meet the description in the will, the devise includes additional securities owned by the testator at death to the extent the additional securities were acquired by the testator after the will was executed as a result of the testator’s ownership of the described securities and are securities of any of the following types:
Terms Used In Arizona Laws 14-2605
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Devise: To gift property by will.
- Devise: when used as a noun, means a testamentary disposition of real or personal property and, when used as a verb, means to dispose of real or personal property by will. See Arizona Laws 14-1201
- Organization: means a corporation, limited liability company, business trust, estate, trust, partnership, joint venture, association, government or governmental subdivision or agency or any other legal or commercial entity. See Arizona Laws 14-1201
- Security: includes any note, stock, treasury stock, bond, debenture, evidence of indebtedness, certificate of interest or participation in an oil, gas or mining title or lease or in payments out of production under that title or lease, collateral trust certificate, transferable share or voting trust certificate and, in general, includes any interest or instrument commonly known as a security, or any certificate of interest or participation, any temporary or interim certificate, receipt or certificate of deposit for, or any warrant or right to subscribe to or purchase, any of these securities. See Arizona Laws 14-1201
- Testator: A male person who leaves a will at death.
- Testator: includes a person of either sex. See Arizona Laws 14-1201
1. Securities of the same organization acquired by reason of action initiated by the organization or any successor, related or acquiring organization, excluding any acquired by exercise of purchase options.
2. Securities of another organization acquired as a result of any merger, consolidation, reorganization or other distribution by the organization or any successor, related or acquiring organization.
3. Securities of the same organization acquired as a result of a plan of reinvestment.
B. Distributions in cash before death with respect to a described security are not part of the devise.