Survivorship Flashcards
Survivorship
How to determine the distribution of estates when beneficiaries of estates die simultaneously (ex: accident)
Pronouncing someone simultaneously dead is…
A question of fact that can be rebutted by medical evidence
Different provinces
Treat differently
In NS
If two people are beneficiaries die in simultaneous accident the oldest is presumed to have died first
In NB/ ONT
- assume that for the purposes of distribution of assets when it comes to the wills or estates of people who die at the same time we operate on the fiction that each survived the other- avoids lapse (triggered when someone pre-deceases)
- They are both deemed to have predeceased each other
Joint tenancy and simultaneous death
Severs JT- each gets TC and retains their share
IMPORTANT-ANTI LAPSE DOES NOT APPLY TO ____ ONLY____
Intestacy only wills
Always ask
o Step 1: any evidence to rebut?
o Step 2: apply the presumption
–Means the person whos estate you are dealing with they live the longest—if you can remember that then its just dealing with lapse