Washington Code 11.108.010 – Definitions
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Unless the context clearly requires otherwise, the definitions in this section apply throughout this chapter.
Terms Used In Washington Code 11.108.010
- 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
- Donor: The person who makes a gift.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fiduciary: A trustee, executor, or administrator.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Grantor: The person who establishes a trust and places property into it.
- Internal revenue code: means the United States internal revenue code of 1986, as amended or renumbered as of January 1, 2001. See Washington Code 11.02.005
- Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
- person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
- Personal representative: includes executor, administrator, special administrator, and conservator or limited conservator and special representative. See Washington Code 11.02.005
- Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
- Testator: A male person who leaves a will at death.
(1) The term “pecuniary bequest” means a gift in a governing instrument which either is expressly stated as a fixed dollar amount or is a gift of a dollar amount determinable by the governing instrument, and a gift expressed in terms of a “sum” or an “amount,” unless the context dictates otherwise, is a gift of a dollar amount.
(2) As the context might require, the term “marital deduction” means either the federal or state estate tax deduction or the federal gift tax deduction allowed for transfers to spouses under the Internal Revenue Code or applicable state law.
(3) The term “maximum marital deduction” means the maximum amount qualifying for the marital deduction.
(4) The term “marital deduction gift” means a gift intended to qualify for the marital deduction as indicated by a preponderance of the evidence including the governing instrument and extrinsic evidence whether or not the governing instrument is found to be ambiguous.
(5) The term “governing instrument” includes, but is not limited to: Will and codicils; revocable trusts and amendments or addenda to revocable trusts; irrevocable trusts; beneficiary designations under life insurance policies, annuities, employee benefit plans, and individual retirement accounts; payable-on-death, trust, or joint with right of survivorship bank or brokerage accounts; transfer on death designations or transfer on death or pay on death securities; and documents exercising powers of appointment.
(6) The term “fiduciary” means trustee or personal representative. Reference to a fiduciary in the singular includes the plural where the context requires.
(7) The term “gift” refers to all gifts, legacies, devises, and bequests made in a governing instrument, whether outright or in trust, and whether made during the life of the transferor or as a result of the transferor’s death.
(8) The term “transferor” means the testator, donor, grantor, or other person making a gift.
(9) The term “spouse” includes the transferor’s surviving spouse in the case of a deceased transferor.
[ 2006 c 360 § 3; 1997 c 252 § 81; 1993 c 73 § 2; 1990 c 224 § 2; 1988 c 64 § 27; 1985 c 30 § 106. Prior: 1984 c 149 § 140.]
NOTES:
Clarification of laws—Enforceability of act—Severability—2006 c 360: See notes following RCW 11.108.070.
Severability—Effective dates—1984 c 149: See notes following RCW 11.02.005.