Text: HF00071 Text: HF00073 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 633.5, Code 1997, is amended to read as
1 2 follows:
1 3 633.5 NONESTATE PROPERTY – INSURANCE PROCEEDS –
1 4 ANNUITIES.
1 5 A decedent's estate shall not include life insurance
1 6 proceeds, unless the proceeds are payable to the decedent's
1 7 estate and shall not include any money or property held as an
1 8 annuity if the payee of the annuity is a person other than the
1 9 decedent or if the payee was entitled to payment from the
1 10 annuity jointly with a right of survivorship.
1 11 Sec. 2. Section 633.197, unnumbered paragraph 5, Code
1 12 1997, is amended to read as follows:
1 13 For purposes of this section, the gross assets of the
1 14 estate shall not include life insurance proceeds, unless
1 15 payable to the decedent's estate, and shall not include any
1 16 money or property held as an annuity if the payee of the
1 17 annuity is a person other than the decedent or if the payee
1 18 was entitled to payment from the annuity jointly with a right
1 19 of survivorship.
1 20 EXPLANATION
1 21 This bill provides that money or property held in an
1 22 annuity shall not become part of the probate estate or used
1 23 when calculating the compensation due the personal
1 24 representative where the person receiving payment from the
1 25 annuity is someone other than the decedent or was entitled to
1 26 receive payment jointly with the decedent with a right of
1 27 survivorship.
1 28 LSB 1793HH 77
1 29 tm/sc/14
Text: HF00071 Text: HF00073 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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