Nonprobate Transfers - Feb. 4 Flashcards
What is a will? (Q)
A will, also known as a testament, is a written instrument that indicates the intent of a decedent, or testator, regarding the disposition of his estate after death. A will may distribute real and personal property to an intended beneficiary regardless of the beneficiary’s relationship to the decedent.
With respect to a will, what is probate? (Q)
Probate is the judicial procedure under which a document is established to be testamentary—that is, established to be a valid will, or admitted to probate. Generally, for a will to have any dispositive effect on any property within a jurisdiction, it must be admitted to probate in that jurisdiction. Alternatively, many jurisdictions have special procedures in place by which a will admitted to probate elsewhere may be received, recorded, and administered in the jurisdiction for certain limited purposes, such as disposing of property located in the jurisdiction, if the property is owned by a decedent domiciled elsewhere at death.
In the context of probate of a will, what is primary jurisdiction? (Q)
In the context of probate of a will, primary jurisdiction is jurisdiction over the testamentary estate at large. Primary jurisdiction generally vests in the courts of the state in which the decedent was domiciled at death.
In the context of probate of a will, what is ancillary jurisdiction? (Q)
In the context of probate of a will, ancillary jurisdiction is a state’s jurisdiction over the testamentary estate for a specific, limited purpose. That purpose is usually to determine the will’s effect on property located within the state if the decedent was domiciled elsewhere at death. The process of admitting the will to probate and administering it for that limited purpose is called ancillary probate.
Traditionally, within what period of time after a decedent’s death may a will be probated? (Q)
Traditionally, a will may be probated at any time after a decedent’s death. However, some jurisdictions have limited the time, by statute, to a certain number of years after the decedent’s death. The Uniform Probate Code (UPC) limits the time to three years.
In general, what is informal probate? (Q)
In general, informal probate is a form of estate administration designed to proceed with minimal supervision or involvement by the probate court. To conserve judicial resources, most probate codes encourage informal probate.
What is formal probate? (Q)
Formal probate is full-blown litigation to determine the validity of a will. Formal probate typically commences once an interested party files a proper will contest with the probate court, but a proponent of the will may also petition for formal probate.
