SECTIONS 260-267 - California Statutes

PROBATE CODE

SECTION 260-267

260. Unless the provision or context otherwise requires, the
definitions in this chapter govern the construction of this part.

262. "Beneficiary" means the person entitled, but for the person's
disclaimer, to take an interest.

263. (a) "Creator of the interest" means a person who establishes,
declares, creates, or otherwise brings into existence an interest.
(b) "Creator of the interest" includes, but is not limited to, the
following:
(1) With respect to an interest created by intestate succession,
the person dying intestate.
(2) With respect to an interest created under a will, the
testator.
(3) With respect to an interest created under a trust, the
settlor.
(4) With respect to an interest created by succession to a
disclaimed interest, the disclaimant of the disclaimed interest.
(5) With respect to an interest created by virtue of an election
to take against a will, the testator.
(6) With respect to an interest created by creation of a power of
appointment, the donor.
(7) With respect to an interest created by exercise or nonexercise
of a power of appointment, the donee.
(8) With respect to an interest created by an inter vivos gift,
the donor.
(9) With respect to an interest created by surviving the death of
a depositor of a Totten trust account or P.O.D. account, the deceased
depositor.
(10) With respect to an interest created under an insurance or
annuity contract, the owner, the insured, or the annuitant.
(11) With respect to an interest created by surviving the death of
another joint tenant, the deceased joint tenant.
(12) With respect to an interest created under an employee benefit
plan, the employee or other owner of an interest in the plan.
(13) With respect to an interest created under an individual
retirement account, annuity, or bond, the owner.

264. "Disclaimant" means a beneficiary who executes a disclaimer on
his or her own behalf or a person who executes a disclaimer on
behalf of a beneficiary.

265. "Disclaimer" means any writing which declines, refuses,
renounces, or disclaims any interest that would otherwise be taken by
a beneficiary.

266. "Employee benefit plan" includes, but is not limited to, any
pension, retirement, death benefit, stock bonus, or profit-sharing
plan, system, or trust.

267. (a) "Interest" includes the whole of any property, real or
personal, legal or equitable, or any fractional part, share, or
particular portion or specific assets thereof, or any estate in any
such property, or any power to appoint, consume, apply, or expend
property, or any other right, power, privilege, or immunity relating
to property.
(b) "Interest" includes, but is not limited to, an interest
created in any of the following manners:
(1) By intestate succession.
(2) Under a will.
(3) Under a trust.
(4) By succession to a disclaimed interest.
(5) By virtue of an election to take against a will.
(6) By creation of a power of appointment.
(7) By exercise or nonexercise of a power of appointment.
(8) By an inter vivos gift, whether outright or in trust.
(9) By surviving the death of a depositor of a Totten trust
account or P.O.D. account.
(10) Under an insurance or annuity contract.
(11) By surviving the death of another joint tenant.
(12) Under an employee benefit plan.
(13) Under an individual retirement account, annuity, or bond.
(14) Any other interest created by any testamentary or inter vivos
instrument or by operation of law.