Connecticut General Statutes 45a-788 – Maximum liability of beneficiary
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The maximum liability to which a beneficiary is subject under subsection (a) of section 45a-787 is the beneficiary’s ratable obligation, in the proportion that the value of the assets passing to the beneficiary bears to the value of all such assets passing to beneficiaries within the same order of liability as the beneficiary under subsection (a) of section 45a-369, and no judgment may be had or entered in favor of any plaintiff against any such beneficiary for more than such ratable obligation.
Terms Used In Connecticut General Statutes 45a-788
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Plaintiff: The person who files the complaint in a civil lawsuit.