SURVIVORSHIP CLAUSE
Back to GlossaryDefinition
A clause in a will requiring that the legatee survives for a specific period in order to inherit under the will. The bequest will qualify for the marital deduction if the property transfers to the surviving spouse and the time period of the survivorship clause is six months or less.
Summary
A survivorship clause is a safety net provision in estate planning that requires a beneficiary to live for a certain period after the will-maker's death to receive their inheritance. Think of it as a 'waiting period' - if the beneficiary dies too soon after inheriting, the property goes elsewhere instead. This prevents property from passing through multiple estates quickly and helps avoid double taxation. For married couples, the IRS allows survivorship periods of 6 months or less while still qualifying for valuable tax deductions.
Usage Context
Essential when studying estate planning strategies, marital deduction rules, and will drafting techniques. Critical for understanding how tax laws intersect with inheritance planning.
Common Confusions
- Thinking the survivorship clause applies to all beneficiaries when it's specific to each bequest
- Confusing survivorship clauses with simultaneous death provisions
- Assuming any survivorship period qualifies for the marital deduction (must be 6 months or less)
- Not understanding that the clause prevents inheritance, rather than just delaying it
