Terminology, Intestacy - Spouses Flashcards
What is a codicil?
A supplement that amends or revokes decedent’s will in whole or in part
Considered to republish the will as of the date of the codicil
What is intestate succession?
A default estate plan developed by the legislature in case the decedent dies intestate
Who are collaterals?
Decedents relatives through an ancestor like siblings, cousins, uncles, aunts, etc.
What happens under the USDA if the decedent and heir die at the same time?
They will pass as though each predeceased the other - heir must be proved by clear / convincing evidence to have survived the decedent by 120 hours
What is the surviving spouse’s share if the decedent and spouse have only shared descendants?
Spouse takes entire estate
What is the surviving spouse’s share if the decedent has no descendents but living parents?
Spouse takes $300,000 and 75% of remainder
What is the surviving spouse’s share if the decedent and spouse have shared descendants and the spouse has non-shared descendants?
Spouse takes $225,000 and 50% of remainder
What is the surviving spouse’s share if only the spouse and the decedent’s own non-shared descendants are left?
Spouse takes $150,000 and 50% of remainder
What is the surviving spouse’s share if only the spouse is left?
Spouse takes entire estate