§560:2-207  Surviving spouse's or reciprocal
beneficiary's property and nonprobate transfers to others.  (a)  Included
property.  Except to the extent included in the augmented estate under section
560:2-204 or 560:2-206, the value of the augmented estate includes the value
of:



(1)  Property that was owned by the decedent's
surviving spouse or reciprocal beneficiary at the decedent's death, including:



(A)  The surviving spouse's or reciprocal
beneficiary's fractional interest in property held in joint tenancy with the
right of survivorship;



(B)  The surviving spouse's or reciprocal
beneficiary's ownership interest in property or accounts held in co-ownership
registration with the right of survivorship; and



(C)  Property that passed to the surviving
spouse or reciprocal beneficiary by reason of the decedent's death, but not
including the spouse's or reciprocal beneficiary's right to homestead
allowance, family allowance, exempt property, or payments under the federal
social security system; and



(2)  Property that would have been included in the
surviving spouse's or reciprocal beneficiary's nonprobate transfers to others,
other than the spouse's or reciprocal beneficiary's fractional and ownership
interest included under subsection (a)(1)(A) or (B), had the spouse or
reciprocal beneficiary been the decedent.



(b)  Time of valuation.  Property included
under this section is valued at the decedent's death, taking the fact that the
decedent predeceased the spouse or reciprocal beneficiary into account, but,
for purposes of subsection (a)(1)(A) and (B), the values of the spouse's or
reciprocal beneficiary's fractional and ownership interests are determined
immediately before the decedent's death if the decedent was then a joint tenant
or a co- owner of the property or accounts.  For purposes of subsection (a)(2),
proceeds of insurance that would have been included in the spouse's or
reciprocal beneficiary's nonprobate transfers to others under section
560:2-205(1)(D) are not valued as if the spouse or reciprocal beneficiary were
deceased.



(c)  Reduction for enforceable claims.  The
value of property included under this section is reduced by enforceable claims
against the surviving spouse or reciprocal beneficiary. [L 1996, c 288, pt of
§1; am L 1997, c 383, §19]