Lecture 1 Flashcards
Example of assets owned individually:
Jane Doe, as a tenant in common
Jane Doe, as a single woman
Jane Doe, as an unmarried woman
Examples of assets held in individual name and as separate property:
Jane Doe, a married woman, as her Separate Property
John Doe, a married man, as his Separate Property
No: John Doe, as a single man, as his SP
What is Intestacy (CPC section 6403)?
intestacy: the default rules governing assets held at decedent’s death in the
decedent’s individual name that are not governed by a will or any other testamentary document [not governed by a deed, contract, trust, or other document]
How many hours so you need to survive in order to be considered decedent’s survivor?
CPC section 6403 provides that, to “survive” the decedent under the intestacy rules, the survivor must survive the decedent by at least 120 hours.
What is the Intestacy definition of “survive?”
alive at least 120 hours/5 days after another individual dies
Q: X dies; Y dies a day later (which is 24 hours later)
Does Y survive X under a dictionary definition?
Yes
Q: X dies; Y dies a day later (which is 24 hours later)
Does Y survive X under intestacy?
No, b/c not 120 hours.
Q: X dies; Y dies a day later (which is 24 hours later)
Does Y receive any property from dead X under an intestate distribution?
No.
Q: X dies; Y dies a day later (which is 24 hours later)
Does Y’s estate receive any property from dead X under an intestate distribution?
No.
Assume H and W are alive and own $200 CP. H dies in a car accident. W, upon learning that H is dead, has a heart attack and dies 3 hours after H dies. H dies intestate (without a will or any other estate planning document).
- Does W survive X under intestacy?
- Does W survive X under dictionary definition?
- No
2. Yes
If a decedent dies without a will or other document transferring decedent’s
property, where does California law transfer that property?
Generally, first we try to give it surviving spouse’s kids. If not kid, we look to see if there are surviving parent and if not the sisters
Who is more important (a) surviving spouse or (b) surviving children?
Answer is the surviving spouse because the children will still be benefitted.
