Bill Summaries: H 736 ELECTIVE SHARE-JOINT ACCOUNTS.

Tracking:
  • Summary date: Jul 2 2020 - More information

    AN ACT TO LIMIT SPOUSAL SHARE WITH RESPECT TO JOINTLY HELD PROPERTY TO A REBUTTABLE PRESUMPTION OF IN-KIND CONTRIBUTION UNLESS OTHERWISE ESTABLISHED BY CLEAR AND CONVINCING EVIDENCE AND TO REQUIRE A FEE FOR FILING A CLAIM FOR AN ELECTIVE SHARE. SL 2020-60. Enacted June 30, 2020. Sections 2 and 3 are effective December 1, 2020. The remainder is effective June 30, 2020.


  • Summary date: Jun 16 2020 - More information

    Senate committee substitute to the 3rd edition makes the following changes. 

    Postpones the effective date of Sections 2 (amending GS 30-3.4 regarding the procedure for determining elective share) and 3 (amending GS 7A-307 regarding costs of estate administration) of the act from December 1, 2019, to December 1, 2020, making the changes applicable to estates of decedents dying on or after that date.


  • Summary date: Jul 23 2019 - More information

    House committee substitute to the 2nd edition makes the following changes. 

    Makes technical changes to the proposed changes to GS 30-3.2, deleting existing law that is unchanged by the act. Makes the proposed changes to GS 30-3.2, which amend the defined terms of Article 1A, Elective Share, also apply to estate proceedings to determine the elective share which are not final on the date the act becomes law due to the proceeding being subject to further judicial review.

    Eliminates proposed GS 30-3.4(b1), which required a person who files a claim for an elective share to pay $200 to the clerk of superior court of the county in which the primary administration of the decedent's estate lies. Instead, amends GS 7A-307, regarding costs in estate administration, to require the clerk to assess $200 for the filing of a petition for an elective share proceeding. Amends GS 30-3.4(e1), regarding the procedure for an elective share proceeding, to direct that the petition for the proceeding be filed by the clerk upon payment of the costs assessed pursuant to GS 7A-307, as amended. Applies to estates of decedents dying on or after December 1, 2019.


  • Summary date: Jul 10 2019 - More information

    House committee substitute to the 1st edition makes the following changes. 

    Amends GS 30-3.4 to require a person who files a claim for an elective share to pay $200 to the clerk of superior court of the county in which the primary administration of the decedent's estate lies. 

    Amends the act's long title.


  • Summary date: Apr 11 2019 - More information

    Amends GS 30-3.2, which sets forth definitions regarding the surviving spouse elective share provisions of Article 1A of the Chapter.

    Modifies the provisions regarding property held by the entirety or jointly with right of survivorship concerning the calculation of total assets. Eliminates the inclusion of one-half of any property held be the decedent and the surviving spouse as joint tenants with right of survivorship without regard to contribution. Now limits the inclusion of property held by the decedent and one or more other persons as joint tenants with right of survivorship to the extent of the decedent's pro rata share of property attributable to the decedent's contribution. Creates a presumption that the decedent and all other joint tenants are presumed to have contributed in-kind in accordance with their respective shares for the jointly owned property, rebuttable by clear and convincing evidence (previously the presumption was that the decedent contributed the jointly owned property).


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