Terminology, Intestacy - Spouses Flashcards

1
Q

What is a codicil?

A

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

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2
Q

What is intestate succession?

A

A default estate plan developed by the legislature in case the decedent dies intestate

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3
Q

Who are collaterals?

A

Decedents relatives through an ancestor like siblings, cousins, uncles, aunts, etc.

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4
Q

What happens under the USDA if the decedent and heir die at the same time?

A

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

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5
Q

What is the surviving spouse’s share if the decedent and spouse have only shared descendants?

A

Spouse takes entire estate

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6
Q

What is the surviving spouse’s share if the decedent has no descendents but living parents?

A

Spouse takes $300,000 and 75% of remainder

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7
Q

What is the surviving spouse’s share if the decedent and spouse have shared descendants and the spouse has non-shared descendants?

A

Spouse takes $225,000 and 50% of remainder

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8
Q

What is the surviving spouse’s share if only the spouse and the decedent’s own non-shared descendants are left?

A

Spouse takes $150,000 and 50% of remainder

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9
Q

What is the surviving spouse’s share if only the spouse is left?

A

Spouse takes entire estate

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