Misc Flashcards
What is required to incorporate an extrinsic document by reference?
1) Writing must be in existence at the time will was signed
2) Will must manifest the intent to incorporate the document
3) Will must describe the writing sufficiently to permit its identification
Is there a special rule for incorporation of extrinsic document when it relates to personal property?
Yes
1) Written list must be signed by T
2) Must describe the property with certainty.
Can be written after will and can be altered with time.
What is the class gift rule?
When there is a gift by will to a group of persons described as a class and some die before the testator, the lapse statute does not apply and only survivors take.
True or False: If specifically devised property is sold by guardian or if condemnation awards is paid to guardian, the specific devisee has a right to a general legacy equal to the net sale price, award, or proceed unless testator’s disability has ceased and testator survives for 1 year.
True
What rights does a specific devisee have to specific property?
1) Balance of the purchase price owning when contract is still executory at T’s death.
2) Any amount of condemnation award to the extent unpaid at T’s death.
3) Any insurance proceeds unpaid at death.
4) Property acquired as a result of foreclosure of a security interest on a note.
A specific devisee ____ any additional or other securities of the same entity owned by the testator because of action initiated by the entity, excluding any acquired by exercise of purchase option.
Takes
Does specific devisee get securities from another entity if issues as a result of merger, consolidation, or reorg of similar action taken by entity?
Yes
Will the court allow evidence to be introduced to clear up a latent ambiguity?
Yes - if there is no evidence the gift fails.
Will a court allow reform of the terms of a will even if unambiguous in order to conform it to T’s intent?
Yes but it must be proved by clear and convincing evidence that it accomplishes T’s intent and the terms of the will were affected by mistake of law or fact.
Allowed even if it contradicts plain meaning of the will.
What occurs when a demonstrative legacy fails because the item is no longer in the estate?
It become a general legacy
When is a fair disclosure of assets required with respect to marital agreements?
When it is signed after the marriage
Is a financial disclosure required when marital agreement is signed before marriage?
No
Does FL follow strict per stirpes rule?
Yes this mean descendents received based on the share their predecessor would have received
What is required for a person to be a qualified rep?
1) 18 years old
2) Never convicted of a felony
3) Mental capacity
4) Florida resident
What is not included in the intestate estate?
1) Survivorship Property
2) Property passing by contract
3) Accounts and securities POD/TOD
4) Property held in trust
5) Property over which there is a power of appointment
True or False: A solvent beneficiary can disclaim interest in whole or in part.
True
What occurs if interest is disclaimed?
The interest passes as if the disclaiming beneficiary passed away
When must the disclaimer of interest occur
9 months from decedents death (tax purposes)
Can an child born out of wedlock inherit from dad?
No unless
1) Legitimated by marriage
2) Written acknowledgment of paternity
3) Adjudication of paternity after Dad’s death
If a child is adopted by stepparent, can they still inherit from their father when he dies?
Yes from father’s family
If a child is adopted by stepparent, can they still inherit from their father while he’s alive?
No
What does the doctrine of advancement apply to?
Intestate estates regarding the advancement of a gift.
What does the doctrine of satisfaction apply to?
Testate estates regarding the advancement of a gift
When does election for elective share have to be declared?
1) Six months after service of a copy of notice of administration; or
2) 2 years after the decedent’s death
