California Probate Code 21405 – (a) In any case in which there is abatement when a distribution …
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(a) In any case in which there is abatement when a distribution is made during estate administration, the court shall fix the amount each distributee must contribute for abatement. The personal representative shall reduce the distributee’s share by that amount.
(b) If a specific gift must be abated, the beneficiary of the specific gift may satisfy the contribution for abatement out of the beneficiary‘s property other than the property that is the subject of the specific gift.
Terms Used In California Probate Code 21405
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means a person to whom a donative transfer of property is made or that person's successor in interest, and:
California Probate Code 24
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Personal representative: means executor, administrator, administrator with the will annexed, special administrator, successor personal representative, public administrator acting pursuant to Section 7660, or a person who performs substantially the same function under the law of another jurisdiction governing the person's status. See California Probate Code 58
- Property: means anything that may be the subject of ownership and includes both real and personal property and any interest therein. See California Probate Code 62
(Enacted by Stats. 1990, Ch. 79.)