HB145 Alabama 2015 Session

Sponsors

Session

Regular Session 2015

Title

Probate, inheritance, ownership of certain inter-vivos assets upon divorce or annulment

Description

<p class="bill_description"> Under existing law, a person who is divorced from a decedent is not considered a surviving spouse for purposes of inheritance through a will; however, the law is silent as to the passage of assets through other devices or payable on death instruments</p><p class="bill_description"> This bill would provide for inheritance of certain documents such as revocable inter-vivos trusts, life-insurance and retirement-plan beneficiary designations, transfer-on-death accounts, and other revocable dispositions to the former spouse that the divorced individual established before the divorce or annulment</p><p class="bill_description"> This bill would also provide that the interests of the former spouses in property that they held at the time of the divorce or annulment as joint tenants with the right of survivorship are severed and their co-ownership interests become tenancies in common</p><p class="bill_entitled_an_act"> To provide for revocation of certain transferable interests in property in the event of divorce or annulment; and to provide that where former spouses held property as joint tenants at the time of divorce or annulment, the property interest becomes a tenancy in common upon divorce or annulment. </p>

Subjects

Court, Probate