SECTION 2-204. DECEDENT’S NET PROBATE ESTATE. Uniform Probate Code
The value of the augmented estate includes the value of the decedent’s probate estate, reduced by funeral and administration expenses, homestead allowance, family allowances, exempt property, and enforceable claims.
Comment
This section, which in the 1990 version appeared as a paragraph of a single, long section defining the augmented estate, establishes as the first component of the augmented estate the value of the decedent’s probate estate, reduced by funeral and administration expenses, homestead allowance (Section 2-402), family allowances (Section 2-404), exempt property (Section 2-403), and enforceable claims. The term “claims” is defined in Section 1-201 as including “liabilities of the decedent or protected person whether arising in contract, in tort, or otherwise, and liabilities of the estate which arise at or after the death of the decedent or after the appointment of a conservator, including funeral expenses and expenses of administration. The term does not include estate or inheritance taxes, or demands or disputes regarding title of a decedent or protected person to specific assets alleged to be included in the estate.”
Various aspects of Section 2-204 are illustrated by Examples 10, 11, and 12 in the Comment to Section 2-205, below.
The value of the augmented estate includes the value of the decedent’s probate estate, reduced by funeral and administration expenses, homestead allowance, family allowances, exempt property, and enforceable claims.
Comment
This section, which in the 1990 version appeared as a paragraph of a single, long section defining the augmented estate, establishes as the first component of the augmented estate the value of the decedent’s probate estate, reduced by funeral and administration expenses, homestead allowance (Section 2-402), family allowances (Section 2-404), exempt property (Section 2-403), and enforceable claims. The term “claims” is defined in Section 1-201 as including “liabilities of the decedent or protected person whether arising in contract, in tort, or otherwise, and liabilities of the estate which arise at or after the death of the decedent or after the appointment of a conservator, including funeral expenses and expenses of administration. The term does not include estate or inheritance taxes, or demands or disputes regarding title of a decedent or protected person to specific assets alleged to be included in the estate.”
Various aspects of Section 2-204 are illustrated by Examples 10, 11, and 12 in the Comment to Section 2-205, below.
87
Historical Note. This Comment was added in 1993.
No comments:
Post a Comment