§ 64.1-62.1. Certain marital deduction formula clauses to be construed torefer to federal marital deduction allowable if decedent had died on December31, 1981.
A. If property passes from the decedent or is acquired from the decedent byreason of the decedent's death (i) under a will executed before September 12,1981, or a trust created before September 12, 1981, and (ii) such will ortrust contains a formula providing that the spouse of the decedent is toreceive the maximum amount of property qualifying for the marital deductionallowable under federal law, and further, (iii) such will or trust is notamended on or after September 12, 1981, and before the death of the decedentto refer specifically to an unlimited marital deduction or an amountqualifying therefor, or otherwise to manifest an intent to have the estatequalify for the unlimited marital deduction, then such formula provisionshall be construed as referring to the maximum amount of property eligiblefor the marital deduction as was allowable under the Internal Revenue Code asif the decedent had died on December 31, 1981, unless the court shall findthat the decedent intended to refer to the maximum marital deduction of theInternal Revenue Code in effect at the time of his death.
B. If property passes from the decedent or is acquired from the decedent byreason of the decedent's death (i) under a will executed before September 12,1981, or a trust created before September 12, 1981, and (ii) such will ortrust contains a formula providing that the spouse of the decedent is toreceive the maximum amount of property qualifying for the marital deductionallowable under federal law, but no more than will reduce such federal estatetax to zero or any other pecuniary or fractional share of property determinedwith reference to the marital deduction, and further, (iii) such will ortrust is not amended on or after September 12, 1981, and before the death ofthe decedent to refer to the federal estate tax on a date later thanSeptember 12, 1981, than such provision reducing such bequest to such amountnecessary to reduce the federal tax to zero or any other pecuniary orfractional share of property determined with reference to the maritaldeduction, shall be construed as referring to a computation done as ofDecember 31, 1981, that would have reduced the federal estate tax to zero ifthe decedent had died on December 31, 1981, unless the court shall find thatthe decedent intended the computation to be made as of date of death.
C. The proceeding to determine whether the decedent intended that thecomputation under subsection A or B be made as of the date of death, ratherthan the earlier 1981 date, must be filed within twelve months following thedeath of the testator or grantor, and not thereafter. It may be filed by thepersonal representative or any affected beneficiary under the will or otherinstrument.
§ 64.1-62.1. Certain marital deduction formula clauses to be construed torefer to federal marital deduction allowable if decedent had died on December31, 1981.
A. If property passes from the decedent or is acquired from the decedent byreason of the decedent's death (i) under a will executed before September 12,1981, or a trust created before September 12, 1981, and (ii) such will ortrust contains a formula providing that the spouse of the decedent is toreceive the maximum amount of property qualifying for the marital deductionallowable under federal law, and further, (iii) such will or trust is notamended on or after September 12, 1981, and before the death of the decedentto refer specifically to an unlimited marital deduction or an amountqualifying therefor, or otherwise to manifest an intent to have the estatequalify for the unlimited marital deduction, then such formula provisionshall be construed as referring to the maximum amount of property eligiblefor the marital deduction as was allowable under the Internal Revenue Code asif the decedent had died on December 31, 1981, unless the court shall findthat the decedent intended to refer to the maximum marital deduction of theInternal Revenue Code in effect at the time of his death.
B. If property passes from the decedent or is acquired from the decedent byreason of the decedent's death (i) under a will executed before September 12,1981, or a trust created before September 12, 1981, and (ii) such will ortrust contains a formula providing that the spouse of the decedent is toreceive the maximum amount of property qualifying for the marital deductionallowable under federal law, but no more than will reduce such federal estatetax to zero or any other pecuniary or fractional share of property determinedwith reference to the marital deduction, and further, (iii) such will ortrust is not amended on or after September 12, 1981, and before the death ofthe decedent to refer to the federal estate tax on a date later thanSeptember 12, 1981, than such provision reducing such bequest to such amountnecessary to reduce the federal tax to zero or any other pecuniary orfractional share of property determined with reference to the maritaldeduction, shall be construed as referring to a computation done as ofDecember 31, 1981, that would have reduced the federal estate tax to zero ifthe decedent had died on December 31, 1981, unless the court shall find thatthe decedent intended the computation to be made as of date of death.
C. The proceeding to determine whether the decedent intended that thecomputation under subsection A or B be made as of the date of death, ratherthan the earlier 1981 date, must be filed within twelve months following thedeath of the testator or grantor, and not thereafter. It may be filed by thepersonal representative or any affected beneficiary under the will or otherinstrument.
§ 64.1-62.1. Certain marital deduction formula clauses to be construed torefer to federal marital deduction allowable if decedent had died on December31, 1981.
A. If property passes from the decedent or is acquired from the decedent byreason of the decedent's death (i) under a will executed before September 12,1981, or a trust created before September 12, 1981, and (ii) such will ortrust contains a formula providing that the spouse of the decedent is toreceive the maximum amount of property qualifying for the marital deductionallowable under federal law, and further, (iii) such will or trust is notamended on or after September 12, 1981, and before the death of the decedentto refer specifically to an unlimited marital deduction or an amountqualifying therefor, or otherwise to manifest an intent to have the estatequalify for the unlimited marital deduction, then such formula provisionshall be construed as referring to the maximum amount of property eligiblefor the marital deduction as was allowable under the Internal Revenue Code asif the decedent had died on December 31, 1981, unless the court shall findthat the decedent intended to refer to the maximum marital deduction of theInternal Revenue Code in effect at the time of his death.
B. If property passes from the decedent or is acquired from the decedent byreason of the decedent's death (i) under a will executed before September 12,1981, or a trust created before September 12, 1981, and (ii) such will ortrust contains a formula providing that the spouse of the decedent is toreceive the maximum amount of property qualifying for the marital deductionallowable under federal law, but no more than will reduce such federal estatetax to zero or any other pecuniary or fractional share of property determinedwith reference to the marital deduction, and further, (iii) such will ortrust is not amended on or after September 12, 1981, and before the death ofthe decedent to refer to the federal estate tax on a date later thanSeptember 12, 1981, than such provision reducing such bequest to such amountnecessary to reduce the federal tax to zero or any other pecuniary orfractional share of property determined with reference to the maritaldeduction, shall be construed as referring to a computation done as ofDecember 31, 1981, that would have reduced the federal estate tax to zero ifthe decedent had died on December 31, 1981, unless the court shall find thatthe decedent intended the computation to be made as of date of death.
C. The proceeding to determine whether the decedent intended that thecomputation under subsection A or B be made as of the date of death, ratherthan the earlier 1981 date, must be filed within twelve months following thedeath of the testator or grantor, and not thereafter. It may be filed by thepersonal representative or any affected beneficiary under the will or otherinstrument.
