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§ 14-2609 Satisfaction of a devise during the testator's life; requirements; valuation

AZ Rev Stat § 14-2609 (2019) (N/A)
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14-2609. Satisfaction of a devise during the testator's life; requirements; valuation

A. Property a testator gave to a person while the testator was alive is treated as a satisfaction of a devise in whole or in part if any of the following requirements are met:

1. The will provides for deduction of the gift.

2. The testator declared in a contemporaneous writing that the gift is in satisfaction of the devise or that its value is to be deducted from the value of the devise.

3. The devisee acknowledged in writing that the gift is in satisfaction of the devise or that its value is to be deducted from the value of the devise.

B. For purposes of partial satisfaction, property given while the testator was alive is valued as of the time the devisee came into possession or enjoyment of the property or at the testator's death, whichever occurs first.

C. To satisfy the requirements of sections 14-2603 and 14-2604 if the devisee fails to survive the testator, the gift is treated as a full or partial satisfaction of the devise, as appropriate, unless the testator's contemporaneous writing provides otherwise.

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