Wills and Trusts

Question 1

Intestate Succession

Question 2

Incorporation by Reference

Answer 2

1. Doc or in writing; 2. in existence when will was created; 3. doc clearly ID’d on will and 4. T intended to incorporate doc into will

Question 3

Trustee Duty of Care

Answer 3

Trustee must act as a RPP would as if dealing with own affairs

Question 4

Devises to Classes

Question 5

Creation of Express Trusts

Answer 5

1. Property
2. Beneficiaries
3. Trustee: if none, ct will appoint
4. Intent: present manifestation, precatory words not enough
5. Creation
6. Valid Legal Purpose

Question 6

Judicial Modification of Trusts

Answer 6

Cy Pres Doctrine (as close as possible to original intent); In express trust, Ct can deviate from admin or mgmt provisions, but not the beneficiary if unforseen circumstances or necessity

Question 7

Lapsed Legacies

Question 8

Revocation of Will by Physical Act

Answer 8

T burns, tears, cancel (cross out), destroy, obliterate (erase). Act and intent must be simultaneous

Question 9

Will Execution Requirements

Answer 9

Attested Will: Requires 1. a writing, 2. signed by T, 3. in presence of two W, 4. Ws sign will understanding that instrument is T’s will

Holographic: 1. signed by T, 2. material provisions in T’s handwriting. Extrinsic evidence allowed to prove T’s intent.

Question 10

Rule Against Perpetuities