Wills And Inheritence Flashcards
Adding conditions
It is possible to add conditions to a bequest or a device left in a will.
Bequest: The gift of goods under the will
Devise: gift of property under the will
Any beneficiary must survive the testator by 30 days in order to receive the benefit under the will
Changing or revoking a will
If Minor changes are wanted, the use of a codicil is possible.
When a new will is created, when the will is destroyed by the testator, making a document of Revocation, upon marriage
Making a valid will
Minimum age, capacity, writing, signature, witness
Locating the will
It is important to make a thorough search as a later will cancels out the earlier will
Applying for probate
Probate is proving that the will of the deceased is the last one made and that the executor is who they say they are. A grant of probate is when approval is given to the executor to deal with the estate
Role of the executor
Arranging the disposal of the deceased body, Locating the will, proving the will, gathering the assets, paying debts, transferring ownership of the real estate, distribution of the assets
Informal wills
This is when the court dispenses with the formal requirements of the will and Grant probate to a will that has Ava not being correctly executed all that has been altered without codicil. The closer has to do with suicide notes that distribute the estate of the deceased.
Maintenance
A person is able to contest they will if they feel the deceased did not provide a adequately full day maintenance. Any family or other relationships between the disease,obligations or responsibilities of the deceased, the size and nature of the state, the earning capacity, any physical mental or intellectual disability, age, whether the applicant was being maintained by the deceased before the death.
Same-sex relationships
Couples living in a same-sex relationship and now given equal rights and treated as a domestic partner
Contents of the will
Appointing an executor, naming a guardian, adding conditions
