2-1.13 - Certain formula clauses to be construed to refer to the federal estate and generation-skipping transfer tax laws applicable to estates of decedents dying after December thirty-first, two thou

§ 2-1.13 Certain formula clauses to be construed to refer to the federal             estate  and  generation-skipping transfer tax laws applicable             to estates of decedents dying  after  December  thirty-first,             two  thousand  nine  and  before  January first, two thousand             eleven    (a)(1) If by reason of the death of a decedent property passes  or  is  acquired under a beneficiary designation, in the case of a will or trust  of  a  decedent  who dies after December thirty-first, two thousand nine  and before January first, two thousand eleven, that contains  a  bequest  or  other  disposition  based  upon  the  amount of property that can be  sheltered from federal estate tax by referring to the "unified  credit",  "estate  tax  exemption",  "applicable  exclusion  amount",  "applicable  exemption amount",  "applicable  credit  amount",  "marital  deduction",  "maximum  marital deduction", "unlimited marital deduction", "charitable  deduction", "maximum charitable deduction" or similar words  or  phrases  relating  to  the  federal  estate  tax,  or that measures a share of an  estate or trust based on the amount that can pass free of federal estate  taxes, or that is otherwise based on  a  similar  provision  of  federal  estate  tax  shall  be  deemed to refer to the federal estate tax law as  applied with respect to decedents dying on  December  thirty-first,  two  thousand nine.    (2)  If  by  reason  of  the death of a decedent property passes or is  acquired under a beneficiary designation, in the case of a will or trust  of a decedent who dies after December thirty-first,  two  thousand  nine  and  before  January first, two thousand eleven, that contains a bequest  or other disposition based upon the  amount  of  property  that  can  be  sheltered  from federal generation-skipping transfer tax by referring to  the  "generation-skipping  transfer  tax  exemption",  "GST  exemption",  "generation-skipping  transfer  tax",  "GST  tax"  or  similar  words or  phrases that measures a share of an estate or trust based on the  amount  that  can  pass  free  of federal generation-skipping transfer taxes, or  that  is  otherwise  based   on   a   similar   provision   of   federal  generation-skipping  transfer  tax  law;  or  if such bequest would have  passed as a "direct skip" to a "natural person" within  the  meaning  of  such  terms under chapter 13 of the Internal Revenue Code of 1986 if the  decedent had died on December thirty-first, two thousand nine, then such  will  or   trust   shall   be   deemed   to   refer   to   the   federal  generation-skipping transfer tax law in effect on December thirty-first,  two thousand nine.    (3) This paragraph shall not apply to a will or trust that:    (A)  is  executed or amended after December thirty-first, two thousand  nine; or    (B) Manifests an intent that  a  contrary  rule  shall  apply  if  the  decedent  dies  on  a  date on which there is no then applicable federal  estate tax or generation-skipping transfer tax.    (4) The reference to  January  first,  two  thousand  eleven  in  this  paragraph shall, if a federal estate tax or generation-skipping transfer  tax  becomes  applicable before that date, be construed to refer instead  to the first date on which the federal estate tax or generation-skipping  transfer tax becomes applicable.    (b) The executor, trustee or other interested person under a  will  or  trust  referred  to  in  paragraph  (a)  of  this  section  may  bring a  proceeding  to  determine  whether  the  decedent  intended   that   the  references  described in such paragraph be construed with respect to the  law as it existed on the decedent's date of death, without regard to the  provisions of paragraph (a) of this section.  In  any  such  proceeding,  extrinsic  evidence  may be admitted to establish the decedent's intent.Such proceeding must be commenced within  twelve  months  following  the  death of the testator or grantor, and not at any time thereafter.