Common Disaster Clause Life Insurance – 1 Common Disaster Complex August 2014 When people die at the same time or in situations where you do not know who died, it is called a common disaster or simultaneous death. However, although it is impossible to say who it is, it is generally important to know, to hand over your property in time to the victims, and to avoid price disputes and double taxation. Inheritance laws common to contracts, wills and provincial law provide rules for determining how property will be distributed when people die at the same time, or when you can’t tell who is who. Unfortunately, the rules often work in contradictory ways, which leads to confusion when trying to plan what we expect to happen. In this booklet we will try to explain the most common problems of disaster. An actual death at the same time, such as a shooting or building collapse, is extremely rare. Oftentimes, court testimony can determine who it is. However, there are cases where the victims do not die at the same time, but the order of death cannot be confirmed (ie a house fire or a sea disaster). As a general rule, it must be proven that the heirs and beneficiaries outlive the person they inherited. In cases where you cannot say who, the will, regulations and provincial agreements have rules that determine the order of death to make it easier and less expensive to manage a person’s estate. However, provincial laws vary, and vary in how they apply to contract provisions dealing with common disasters and accidental deaths. Wills Many couples write their wills to give their spouses all of their property at the time of death. If one spouse outlives the other, the will states that all of their property goes to their children when they die. Many wills also state that the beneficiary must survive the testator (the person who made the will) for a certain number of days, usually 30, to receive anything. This situation helps to avoid unnecessary costs and delays in distribution of goods. If a husband and wife die within days of each other, it does not make sense for each to transfer their possessions to their estates, then to their children soon after. The additional step not only delays the final distribution of their assets, it also increases the complexity and cost of managing their estate, increases the fees for real estate transactions they may incur and exposes all of their assets to the claims of both spouses’ creditors. . 1
2 Let us consider how the division of inheritance occurs in the event of a joint disaster using an example. There are wills of men and women who give everything to each other when they die. In their will, it is said that if one of them has died before, or has not been alive for 30 days, the spouse’s child becomes the beneficiary. Unfortunately, a man and a woman died in a road accident and people couldn’t tell who was who. Without a joint disaster clause (and ignoring provincial law at this point), we have no idea what to do because we don’t know which spouse survived. Finally, executor 1 can apply to the judge, but it is an expensive process. However, because both wills have similar disaster clauses, those who write them can distribute their estates more effectively. Although we don’t know who it is, we do know that neither spouse has passed 30 days, so the spouse cannot make a will. Therefore, assets from both spouses’ estates will pass to their children rather than to their estates first. Provincial Law When there is no legal will or causation clause in effect, provinces and territories have made rules that determine what happens when two people die at the same time, and you can’t tell who it is. Unfortunately, there are two sets of rules, depending on where you live. In some provinces and territories, seniors are considered owners. 2 In others, everyone is considered to have lived. 3 In Quebec, if two people die and it is not possible to tell who is who, they are considered dead if at least one of them is called in succession. After that each worker shifts to those who will be called to their place. 4 Therefore, if you cannot tell who it is, the heirs are considered survivors. Consider our example above, again assuming that you cannot tell which partner, and assuming that each partner will have a joint disaster clause. If the husband is older than the wife, and if they live in Alberta (where the older spouse is considered) the husband will be considered dead first. The husband’s property belongs to his wife. Since the wife is said to be still living with her husband, all of her property, including any property that comes from her husband’s estate to her, will pass to their children. Eventually, the children will inherit all of their parents’ belongings. However, before the children received all of their father’s assets, some of those assets may have been subject to two administrative taxes and fees, once the asset passed from the father’s estate to the mother’s estate. children. The advantage of territorial jurisdiction is that it removes the need to determine who is who, which can require expensive legal proceedings. However, a probate agreement is less expensive than a will that includes a joint disaster clause because some of the older spouse’s property can cover double the costs of probate and administration. Then consider what would happen if the couple lived in British Columbia, where each of them is presumed to live. Of course it is impossible for two people to live separately, but the bill serves the useful purpose of avoiding the question of identity. From a male executor’s point of view, it means that the wife’s estate cannot inherit anything from the husband’s estate, as she is presumed to have outlived him. Therefore, the children become the owners of the husband’s property. From the perspective of female players we reach the same conclusion. Since her husband is presumed dead, her estate cannot take anything from her estate. Instead, their children became the beneficiaries of his estate. In any case, both spouses have died while you cannot say who will remove them as beneficiaries of their estate, leaving their property to be passed directly to their children. 1 An executor is a person named in a will to manage the assets of the deceased, assuming that the person written to be the heir agrees to serve him. 2 Alberta, Nova Scotia, Prince Edward Island, Newfoundland, Northwest Territories and Nunavut. 3 British Columbia, Saskatchewan, Manitoba, Ontario, New Brunswick and Yukon Territory. 4 Civil Code of Quebec, Article 616, 1991, c. 64, a. 616; IN SHORT
Common Disaster Clause Life Insurance
3 Joint property Most couples own their homes as joint tenants with right of survivorship. They may have other assets. Under this type of ownership, everyone has an equal interest in the capital. If a person dies, their interest in the asset will pass immediately to the remaining owner. Because the transfer takes place outside of the decedent’s entire estate, it doesn’t matter what the will is or whether the heir has a will. There should be no confusion about where the property should go in the province and territory where the elderly couple is expected to be. 5 In our example, the husband is the older partner and is assumed to be the owner, so his share of property goes to his wife’s property to be shared with the beneficiaries. Since the husband’s interests other than property are transferred to his wife, administrative or administrative costs related to the transfer, only a few pages need to be completed to register the transfer of property. However, in those jurisdictions (and the Yukon Territory) where each spouse is presumed to survive the other, the presumption of survivorship may cause additional costs and delays. 6 If a man divorces his wife, we will take the share of his house. But since it is assumed that the wife has died before her husband, her share in the house will be transferred to her husband’s property. After all is said and done, what will happen is an exchange of equal interest for equal shares. In response to this potential challenge, the law in that province and in the Yukon Territory where everyone is considered a cohabitant states that