Probate and Estate Admin

Question 1

Terminology

Answer 1

Probate- judicial proceeding

Personal rep- person appointed to carry out estate admin

Question 2

Personal rep

Answer 2

Give notice to devises; discover and collect assets and file inventory; manage assets; pay expenses; distribute property

Fiduciary relationship
Entitled to compensation

Question 3

Order to pay claims

Answer 3

Admin expenses-> funeral expenses-> family allowance-> debts-> secured claims-> judgement-> all other claims

Question 4

Abatement

Answer 4

insufficient funds

If no oder set: property passing by intestacy; residuary estate; general legacies; specific bequests or devises

Question 5

Ambiguous will

Answer 5

Testators intent- extrinsic evidence

If still can’t figure it out: favor those who would take it intestate; favor construction that avoids intestacy; favor the construction that is consistent with the perceived “plan” of disposition; give effect to every portion; newer provisions win over older ones