Connecticut § 12-353 - Life estates; annuities.
Full text of Connecticut Connecticut General Statutes § 12-353 — Life estates; annuities., with citation guidance and answers to common questions.
§ 12-353. Life estates; annuities.
Sec. 12-353. Life estates; annuities. The value of each future, contingent or limited estate, income interest or annuity for life or lives in being shall, so far as possible, be determined by the rule, method and standard of mortality and of value set forth in the Commissioners' 1980 Standard Ordinary Mortality Table with interest at six per cent per annum. The value of the interest remaining after such limited estate shall be determined by deducting the computed value of the limited estate from the value of the entire property in which such interest exists.
(1949 Rev., S. 2033; P.A. 83-520, S. 11, 13.)
History: P.A. 83-520 changed standard and value to that set forth in the commissioners' 1980 Standard Ordinary Mortality Table, with interest at the rate of 6% per annum, effective July 7, 1983, and applicable to estates of decedents dying on or after such date.
Statute applies to life estate passing by will, even though life tenant dies before computation of tax. 108 C. 715, 719. Cited. 118 C. 242.
Frequently Asked Questions About Connecticut § 12-353
What does Connecticut General Statutes § 12-353 cover?
Section 12-353 ("Life estates; annuities.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 12-353?
A common citation format is "Connecticut General Statutes § 12-353" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 12-353 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.