Quick and dirty wills

Question 1

If devise gives stocks and theres more stocks acquired after

Answer 1

Heir takes the additional securities if they were acquired as a result of the testators ownership of the securities and the securities are the result of action by the organziation/ part of a plan of reinvestment.

Question 2

Does the mortgage pass with real property?

Answer 2

yes. take subejct to any mortgages, security interests. No right of exoneration.

Question 3

Father to nonmarital child: 2 prongs

Answer 3

Determine if F is natural father. and did F openly claim the child and support him throughout his life.

Question 4

Ademption

Answer 4

Specifically devised prop no longer part of the estate fails

Question 5

Prsumption of nonademption

Answer 5

Devisee entitled to the value of the property unless ademption was intended. Devisee can get any unpaid insurance proceeds or property procured as resplacemtn. Look to value at the time of disposition.

Question 6

Changes to face of the will

Answer 6

enforced through dispensing power. Need clear and convincing evidence that that was T’s intent

Question 7

What do you do about dead class members?

Answer 7

only class members who survive T take the gift.

Question 8

When does the class close?

Answer 8

When T dies.

Question 9

Anti-lapse protects

Answer 9

only people related to T! and step children