Decedents Estates Flashcards
Intestate Succession
Person dies without will, how property is divided (or if will is invalidated in part or in whole or not total dispoisition)
If Spouse or Parent do not surive T then two avaialble schemes
Per Capita at each generation
Per Capita with representation (Modern Per Stirpes)
Per Capita at each generation
all cousins will be treated alike
one share to living issue and one share for each person in that generation who predeceased decedent but left issue surviving
combine and distribute equially at next generational level
Per Capita with Representation (Modern Per Stirpes)
child will simply take his parent’s share
same as above but don’t combine and divide, just pass it down to issue
Is an adopted child considered a child?
YES, as well as children born out of wedlock, half-bloods
Are stepchildren considered a child?
NO
Advancemnets
Decedent dies without a will but gave child a gift during lifetime
Do you deduct gift from what child would inherit under intestate succession
Common Law: lifetime transfer treated as downpayment and IS taken into account when computing shares, only applied to a gift to a CHILD (broadened to include any heir)
Majority: lifetime transfer is a gift and is ignored in computing
Ademption by Satisfaction
when there is a will, lifetime gift is not prepayment unless
1. will says so
2. testator declares contemporanous writin that gift deducted from will OR
3. devisee acknlowegdes in writing
Requirements to Execute a Valid Will
(SWEPT)
S- SIGNED by an adult testator (or with someone’s help and at T’s direction)
W- in WRITING
E- Signed at the END of the will,
P- PUBLISHED that it is T’s will, and
T- TWO witnesses must sign in T’s presence
A will must be written and signed by an adult
Holographic Will
unwitnessed wills
signed and if the material portions of T’s handwriting then permissible
recognized by hald of the states
Dispensing Power
court can validate a will so long as there is CLEAR AND CONVICING EVIDENCE that decedent intended document to be her will
Incorporation by Refrence
if not valid will, can be incorporated by refrence if the will manifests an INTENT to incorporate the writing and the writing is IDENTIFIED with reasonably certainty
exist att time will is execited
(UPC allows T to dispose of tangible personal property even after will execution)
Revocation of Will
Physical Act (cancellation or writings on the will) with intent to revoke the will
Dependant Relative Revocation
first wil isn’t revoked if a later will is found invalid
