2005 West Virginia Code - §43-2-4. — Method of computing value of inchoate right of dower.

§43-2-4. Method of computing value of inchoate right of dower.

The present value of an inchoate right of dower shall be determined by finding the present value of an annuity, for the life of the spouse entitled to dower, equal to the interest at five percent on one third of the value of the property or principal sum in which he or she is entitled to dower, and then subtracting from such value the present value of an annuity of the same amount for the joint lives of the husband and wife. Such determination shall be made by the following method:
(a) Compute the difference between the age of the husband at his nearest birthday and the age of the wife at her nearest birthday.
(b) From Table I (Uniform Seniority) hereto appended, add the number given for the difference of age computed in subdivision (a) to the younger of the husband's and wife's ages. The resulting number is the equivalent "equal ages" of a husband and wife of different ages.
(c) From Table II (Present Value of an Annuity of One Dollar for the Joint Existence of Two Lives of Equal Ages) hereto appended, find the present value of an annuity of one dollar payable during the joint existence of two lives at the age which is next younger than the "equal ages" computed in subdivision (b).
(d) Subtract from the value found as directed in subdivision (c) the value for the next higher "equal ages" as given in Table II.
(e) Multiply the remainder obtained as directed in subdivision (d) by the fractional part of the "equal ages" found as directed in subdivision (b).
(f) Subtract the product obtained as directed in subdivision (e) from the value obtained from Table II as directed in subdivision (c).
(g) Subtract the remainder obtained as directed in subdivision (f) from the value of an annuity of one dollar on the life of the spouse entitled to the inchoate right of dower according to the figures given for his or her age by the table in section one of this article.
(h) Multiply the remainder obtained as directed in subdivision (g) by five percent of one third of the value of the property or principal sum in which such spouse has an inchoate right of dower, and the result thus obtained is the present value of the inchoate dower right.
TABLE I.
Uniform Seniority for 1958
Commissioners Standard Ordinary (C.S.O.)
Mortality Showing the Addition
to be Made to the Age of the
Younger of Two Lives in Order to
Obtain the Equivalent Equal Ages
DifferenceAddition to
of AgeYounger Age
1 .512
2 1.046
3 1.603
4 2.183
5 2.785
6 3.409
7 4.055
8 4.721
9 5.407
10 6.113
11 6.837
12 7.580
13 8.340
14 9.116
15 9.907
16 10.714
17 11.534
18 12.368
19 13.214
20 14.072
21 14.940
22 15.819
23 16.707
24 17.604
25 18.509
26 19.422
27 20.342
28 21.268
29 22.201
30 23.139
31 24.082
32 25.030
33 25.982
34 26.938
35 27.898
36 28.862
37 29.828
38 30.707
39 31.769
40 32.744
41 33.720
42 34.699
43 35.679
44 36.661
45 37.645
46 38.630
47 39.617
48 40.604
49 41.593
50 42.582
51 43.573
52 44.564
53 45.556
54 46.549
55 47.543
56 48.537
57 49.531
58 50.526
59 51.522
60 52.517
61 53.514
62 54.510
63 55.507
64 55.504
65 57.502
66 58.499
67 59.497
68 60.495
69 61.493
70 62.491
71 63.490
72 64.489
73 65.487
74 66.486
75 67.485
TABLE II.
Present Value of an Annuity of One Dollar per
Annum for the Joint Existence of Two Lives of
Equal Ages, According to the 1958
Commissioners Standard Ordinary (C.S.O.)
Table of Mortality, with Interest at
Five Percent Per Annum
Equal
Ages
017.84678
118.00731
217.97440
317.93063
417.88226
517.82905
617.77115
717.70832
817.64068
917.56837
1017.49151
1117.41061
1217.32620
1317.23844
1417.14824
1517.05581
1616.96101
1716.86404
1816.76475
1916.66264
2016.55681
2116.44706
2216.33279
2316.21341
2416.08861
2515.95776
2615.82051
2715.67685
2815.52640
2915.36911
3015.20491
3115.03338
3214.85442
3314.66756
3414.47265
3514.26949
3614.05846
3713.83963
3813.61334
3913.38044
4013.14123
4112.89623
4212.64564
4312.38935
4412.12749
4511.86009
4611.58742
4711.30991
4811.02791
4910.74196
5010.45247
5110.16002
529.86508
539.56780
549.26863
558.96788
568.66595
578.36347
588.06108
597.75942
607.45897
617.16051
626.86446
636.57132
646.28170
655.99623
665.71571
675.44127
685.17412
694.91568
704.66658
714.42687
724.19567
733.97151
743.75233
753.53702
763.32527
773.11782
782.91618
792.72260
802.53865
812.36506
822.20202
832.04891
841.90462
851.76803
861.63815
871.51387
881.39387
891.27684
901.16163
911.04729
92.93307
93.81815
94.70079
95.57580
96.43646
97.27539
98.10488
990
1000