(a) A transfer on death resulting from a registration in beneficiary form is effective by reason of the contract regarding the registration between the owner and the registering entity and this Part and is not testamentary or subject to Articles I through IV, except as provided in sections 2-201 through 2-207, and except as a consequence of, and to the extent directed by, subsection (b).

Sec. 6. 33 MRSA §480, sub-§1, as enacted by PL 1983, c. 748, §2, is repealed.

SUMMARY

This bill repeals the provisions in the Probate Code that provide that if a married person domiciled in this State dies, the surviving spouse has a right of election to take an elective share of 1/3 of the augmented estate.