Kansas Statutes 59-3513. Other nontestamentary transfers
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Terms Used In Kansas Statutes 59-3513
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
(a) A provision in the following for a nonprobate transfer on death is nontestamentary:
(1) Insurance policy or annuity contract;
(2) contract of employment;
(3) current employee compensation or benefit program;
(4) deferred compensation or pension plan, including programs described in sections 401(a), 403(b), 457 or 501(c)(18) of the federal internal revenue code of 1986 as in effect on January 1, 2001;
(5) individual retirement plan, whether custodial or otherwise; or
(6) account established pursuant to a qualified state tuition program under section 529 of the federal internal revenue code of 1986 as in effect on January 1, 2001.
(b) The provisions of subsection (a) do not limit rights of creditors under other laws of this state.