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Creating Efficiencies in the Law
其他書名
The Beneficiary Designation Act (Retirement, Savings and Other Plans)
出版Manitoba Law Reform Commission., 2019
ISBN07711160049780771116001
URLhttp://books.google.com.hk/books?id=x68FywEACAAJ&hl=&source=gbs_api
註釋In Manitoba, the treatment of the proceeds of these financial products upon the death of the participant is regulated by The Insurance Act,4 The Pension Benefits Act5 and The Beneficiary Designation Act (Retirement, Savings and Other Plans). [...] Section 17 of The Wills Act provides: Revocation by marriage 17 A will is revoked by the marriage of the testator except where (a) there is a declaration in the will that it is made in contemplation of the marriage; or (a.1) there is a declaration in the will that it is made in contemplation of the testator's common-law relationship with the person the testator subsequently marries; or (b) the wil [...] The wording of s. 13 is the result of Recommendation 6 of the Commission's 1990 Report.41 Marriage or the commencement of a common-law relationship does not have the effect of revoking a designation made pursuant to The Beneficiary Designation Act. [...] It also observed that, while s. 169(3) of The Insurance Act provides that the revocation of a will by law or otherwise revokes a beneficiary designation contained in the will, the effect of s. 18(2) is simply to revoke the specific devise or bequest, not to revoke the will in its entirety.47 Therefore, s. 169(3) of The Insurance Act does not apply to the divorce or termination of a common-law rela [...] We recommend: RECOMMENDATION 7 That where a beneficiary is designated, any benefit payable to him or her is not, from the time of the happening of the event upon which it becomes payable, part of the estate of the participant, and is not subject to the claims of the creditors of the participant.