§ 13952.5. Deferred Bequest.
18 CA ADC § 13952.5Barclays Official California Code of Regulations
18 CCR § 13952.5
§ 13952.5. Deferred Bequest.
If a bequest is payable to a transferee at the death of another person, the present value of the bequest as of the date of the transferor's death is computed as follows:
The provisions of subdivision (a) may be illustrated by the following example:
EXAMPLE: Decedent bequeaths to A, to be paid at the death of X, a female, property having a value of $60,000 at the decedent's date of death. At the decedent's date of death, X is 70 years of age. By consulting Table A(2), the remainder factor in column 4 opposite 70, the number representing X's age, is .52460. This remainder factor multiplied by the appraised value of the property ($60,000) results in a product of $31,476, the present worth of the bequest to A as of the date of the decedent's death.
The present value of a particular sum of money payable at a future date certain is computed as follows:
(2) Multiply the factor obtained pursuant to step (1) by the amount of the sum payable. The product will be the present worth, as of the date of the transferor's death, of the sum payable at the end of the specified time. The provisions of subdivision (b) may be illustrated by the following example:
EXAMPLE.
Decedent bequeaths to A $10,000 to be paid at the end of five years from the date of his death. By consulting Table B, the factor for remainder postponed for a term certain in column 4 opposite 5 in column 1, representing the number of years at the end of which the bequest is to be paid, is found to be .747258. The factor multiplied by $10,000 results in a product of $7,473, the present value of the bequest as of the date of the decedent's death.
Note: Reference: Section 13952, Revenue and Taxation Code.
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 18, § 13952.5, 18 CA ADC § 13952.5
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