59-6a205. Decedent's nonprobate transfers to others.
59-6a205
59-6a205. Decedent's nonprobate transfers to others.The value of the augmented estate includes the value of thedecedent's nonprobate transfers to others, not included under K.S.A.59-6a204, and amendments thereto, of any of the following types, in theamount provided respectively for eachtype of transfer.
(a) Property owned or owned in substance by the decedent immediately beforedeath that passed outside probate at the decedent's death. Property includedunder this category consists of:
(1) Property over which the decedent alone, immediately before death, helda presently exercisable general power of appointment. The amount included isthe value of the property subject to the power, to the extent that suchproperty passed at the decedent's death, by exercise, release, lapse, indefault, or otherwise, to or for the benefit of any person other than thedecedent's estate or surviving spouse.
(2) The decedent's fractional interest in property held by the decedentin joint tenancy with the right of survivorship. The amount included is thevalue of the decedent's fractional interest, to the extent that such fractionalinterest passed by right of survivorship at the decedent's death to thesurviving joint tenant other than the decedent's surviving spouse.
(3) The decedent's ownership interest in property or accounts passing toanother upon decedent's death. The amount included is the value of thedecedent's ownership interest, to the extent that the decedent's ownershipinterest passed at the decedent's death to or for the benefit of any personother than the decedent's estate or surviving spouse.
(4) Proceeds of insurance, including accidental death benefits, on thelife of the decedent, if the decedent owned the insurance policy immediatelybefore death or if and to the extent that the decedent alone and immediatelybefore death held a presently exercisable general power of appointment over thepolicy or its proceeds. The amount included is the value of the proceeds, tothe extent that they were payable at the decedent's death to or for the benefitof any person other than the decedent's estate or surviving spouse;
(b) property transferred in any of the following forms by the decedentduring marriage:
(1) Any irrevocable transfer in which the decedent retained the right tothe possession or enjoyment of, or to the income from, the property if and tothe extent that the decedent's right terminated at or continued beyond thedecedent's death. The amount included is the value of the fraction of theproperty to which the decedent's right related, to the extent that suchfraction of the property passed outside probate to or for the benefit of anyperson other than the decedent's estate or surviving spouse.
(2) Any transfer in which the decedent created a power over incomeor property, exercisable by the decedent alone orin conjunction with any other person, or exercisable by a nonadverse party, toor forthe benefit of the decedent, the creditors of the decedent, the decedent'sestate,or creditors of the decedent's estate. The amount included with respect to apower over property is the value ofthe property subject to the power, and the amount included with respect to apower over income is the value of the property that produces or produced theincome, to the extent that the power in either case was exercisableat the decedent's death to or for the benefit of any person other than thedecedent's surviving spouse or to the extent that the propertypassed at the decedent's death, by exercise, release, lapse, in default,or otherwise, to or for the benefit of any person other than the decedent'sestate or surviving spouse. If the power is a power over both income andproperty and the preceding sentence produces different amounts, the amountincluded is the greater amount.
(c) Property that passed during marriage and during the two-year period nextpreceding the decedent's death as a result of a transfer by the decedent if thetransfer was of any of the following types:
(1) Any property that passed as a result of the termination of a right orinterest in, or power over, property that would have been included in theaugmented estate under subparagraph (a)(1), (2), or (3), or undersubparagraph (c)(2), if the right, interest, or power had not terminated untilthe decedent's death. The amount included is the value of the property thatwould have been included under those subparagraphs, if the property werevalued at the time that the right, interest, or power terminated, and isincluded only to the extent that the property passed upon termination to or forthe benefit of any person other than the decedent or the decedent's estate,spouse, or surviving spouse.As used in this subparagraph, "termination," with respect to a right orinterest in property, occurs when the right or interest terminated by the termsof the governing instrument or the decedent transferred or relinquished theright or interest, and, with respect to a power over property, occurs when thepower terminated by exercise, release, lapse, default, or otherwise, but, withrespect to a power described in paragraph (a)(1), "termination" occurs when thepower terminated by exercise or release, but not otherwise.
(2) Any transfer of or relating to an insurance policy on the life of thedecedent if the proceeds would have been included in the augmented estate undersubparagraph (a)(4) had the transfer not occurred. The amount included isthe value of the insurance proceeds to the extent that the proceeds werepayable at the decedent's death to or for the benefit of any person other thanthe decedent's estate or surviving spouse.
(3) Any transfer of property, to the extent not otherwise included inthe augmented estate, made to or for the benefit of a person other than thedecedent's surviving spouse. The amount included is the value of thetransferred property to the extent that the aggregate transfers to any onedonee in either of the two years exceeded $10,000.
History: L. 1994, ch. 132, § 5;L. 1996, ch. 53, § 4; July 1.