variations to testate distribution

Question 1

lifetime gift to beneficiary-“satisfaction of legacies”

Answer 1

a) CL: a lifetime gift to beneficiary in will presumptively made in partial/total satisfaction of legacy, to be taken into account in distributing the testator’s estate at death. Presume parent wants to treat kids equally.

b) NYS: rejected “satisfaction of legacies” presumption by statute
1) No satisfaction of legacy unless BOTH
(a) contemporaneous writing (at the time of gift) AND
(b) signed by the donor or donee.

c) This similar to advancement under intestacy.

Question 2

reference to facts and events outside will

Answer 2

a) Incorporation By Reference – Extrinsic Documents
in almost all states, terms of extrinsic document can be incorporated by reference BUT
1) NYS: Does NOT recognize the incorporation by reference → all documents relating to Will must be formally executed and conform to 7 Point Test (no extrinsic documents allowed)
2) DO NOT CONFUSE POUR-OVER TRUST WITH INCORPORATION BY REFERENCE

b) Acts Of Independent Significance (Non-Testamentary Acts”)
1) General Rule: acts performed by testator AFTER the will is executed which have a purpose or motive independent of any testamentary purpose are given full effect when distributions are made.
2) Except for Title Documents: Deeds, stock certificates, bank passbooks—only transferred as mandated by law. Title documents held to higher standard and can’t be passed by doctrine of independent significance.