Texas Statutes (Last Updated: January 4, 2014) |
ESTATES CODE |
Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY |
Subtitle F. WILLS |
Chapter 255. CONSTRUCTION AND INTERPRETATION OF WILLS |
Subchapter C. LIFETIME GIFTS AS SATISFACTION OF DEVISE |
Sec. 255.101. CERTAIN LIFETIME GIFTS CONSIDERED SATISFACTION OF DEVISE
Latest version.
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Property that a testator gives to a person during the testator's lifetime is considered a satisfaction, either wholly or partly, of a devise to the person if:
(1) the testator's will provides for deduction of the lifetime gift from the devise;
(2) the testator declares in a contemporaneous writing that the lifetime gift is to be deducted from, or is in satisfaction of, the devise; or
(3) the devisee acknowledges in writing that the lifetime gift is in satisfaction of the devise.
Added by Acts 2009, 81st Leg., R.S., Ch. 680 , Sec. 1, eff. January 1, 2014.