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Survivorship Period: The Five-Day Survival Rule
Will writers can specify a survivorship period where the beneficiary must survive the will-writer beyond a specified period, or else their gift will be lapsed and given to someone else. Essentially, a survivorship period gives the will-writer more power over how their estate is to be distributed. When a survivorship period is not specified in the will, there is a five-day survival rule by law in BC.
Five-Day Survival Rule
Under section 10 of the Wills, Estates and Succession Act, in order to receive an inheritance, the beneficiary must survive the deceased by five-days or longer. If a beneficiary dies within five-days of the will-writer’s death, they are deemed to have died before the will-writer for all estate purposes. Will-writers cannot shorten the survivorship period; however, they are able to extend it. It’s common for will writers to extend the survivorship period to 30 days.
If a joint asset is held between two people, each dying within five-days of each other, the asset is given one half to each joint owner. As an example, Jack and Jill jointly own a house together. Jack passes away on May 22nd, 2020 and Jill passes away on May 25th, 2020. Under the five-day survival rule, Jill would not be entitled to anything in Jack’s will and his estate would be distributed as if Jill deceased before him. However, since it’s a jointly owned property, Jack and Jill would each receive 50% of the property’s value, to be distributed according to each of their wills.
Benefits of a Survivorship Period
While it’s clear what the survivorship period and five-day survival rule do, it’s not always clear what their purpose is. In some cases, it can be difficult or even impossible to determine who dies first. In a fatal car crash for example, it’s impossible to know whether one passenger briefly survived the other. It’s unreasonable for the courts to guess and have one person receive an inheritance, while the other wouldn’t.
If you’re unsure how long a survivorship period to include in your will, contact an experienced lawyer today. We can ensure that your estate is distributed according to your wishes.
Have a question about this topic or a different legal topic? Contact us for a free consultation. Reach us via phone at 250-888-0002, or via email at info@leaguelaw.com.