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TX Essays (M. Walker) > Wills & Estates > Flashcards

Wills & Estates Flashcards

1
Q

Preamble

A

TX will and probate law governs the disposition os assets upon death. TX allows for independent administration. As a result, most estates in Texas are administered w/out ct supervision or involvement.

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2
Q

Actions Personal Representative Must Take When Appointed

A
  1. post bond (120 days)
  2. publish notice (1 mo)
  3. fie inventory (90 days)
  4. notice to Bs (60 days)
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3
Q

Valid Holographic Will Requirements

A
  1. clear testamentary intent;
  2. be wholly in testators handwriting;
  3. signed by T
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4
Q

Ways to Clear Title when no Administration is Necessary

A
  1. muniment of tittle (there is will)
  2. statuary heirship proceeding (there is not will)
  3. informal or small estate admin
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5
Q

Probate Asset List

A
  1. homestead
  2. checking account
  3. personal property
  4. savings account
  5. goods and home furnishing
  6. 401K
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6
Q

Non-Probate Assets List

A
  1. Ks
  2. retirement account
  3. certificate of deposit
  4. life insurance policy
  5. EE death benefit
  6. property held in trust
  7. bonds
  8. mortgages
  9. promissory notes
  10. securities accounts
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7
Q

Claims Wife Has Above & Beyond Intestacy or Will

A
  1. homestead right or 15K;
  2. family allowance;
  3. exempt PP up to 60K or 5K cash
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8
Q

Undue Influence Requirements

A
  1. existence an execution of influence;
  2. effect to overpower mind and will of T;
  3. product of will, but for test
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9
Q

Lost Will Requirements

A
  1. duly executed;
  2. all or substantially all contents;
  3. cause of non-production rebuttal
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10
Q

Lapsed Gift Meaning & TX Anti-Lapse Statue

A
  1. Bs predecease T
  2. dependents of T’s parents
  3. Bs Ds take Bs share
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11
Q

Small Estate Administration

A
  1. D dies intestate
  2. estate value (not including homestead) doesn’t exceed $50K
  3. NO need for appoint of personal rep/admin
  4. heirs only file an affidavit w/ basis for distribution
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12
Q

Informal Administration

A
  1. TX favors this
  2. available in small and uncomplicated estates
  3. all Bs agree and judge doesn’t veto
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13
Q

Reasons Independent Administrator Removed for Cause

A
  1. failure to file inventory
  2. failure to give Bs notice
  3. misapplied or embezzled funds
  4. failure to make accounting
  5. gross misconduct or mismanagement
  6. incompetent or in jail
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14
Q

Personal Rep Priority Appointment

A
  1. executor named
  2. SS
  3. principal B
  4. any other B
  5. Ds next of kin
  6. creditor
  7. good character
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15
Q

Options Available for Challenging Validity of Will

A
  1. defective execution
  2. valid revocation
  3. lack of testamentary capacity
  4. undue influence
  5. fraud
  6. mistake
  7. T unaware of contents
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16
Q

How to Incorporate Document Into Will

A
  1. must exist at time will executed
  2. intent to incorp
  3. clearly identify doc
17
Q

How to be Appointed Independent Executor

A
  1. file petition to probate will +

2. ask to be appointment as independent executor

18
Q

Will Revocation Req

A

1.

2. physical act + intent (concurrently)

19
Q

When Independent Admin Available

A
  1. will says so

2. all Bs agree

20
Q

Statutory Heirship Proceeding

A
  1. ct order establishes person is dead
  2. left no will
  3. survived by ppl named as heirs
  4. fixes amount of intestate shares
  5. does not require appt of personal rep
21
Q

What is a Muniment of Title Proceeding

A
  1. estate has no debts
  2. filed w/in 180 days
  3. ct determines if will is valid
  4. no executor and no administration
22
Q

Way Personal Representative Closes Administration

A
  1. file closing report
  2. verified affidavit
  3. show property initially received, debts paid, expenses
  4. names and addys of distributees
  5. declaratory judgment (optional)
23
Q

Priority of Claims in Involvement Estate

A
  1. funeral expenses and last illness up to $15K
  2. family allowance
  3. administration expenses
  4. secured claims
  5. child support
  6. state taxes
  7. condiment to prison in TX
  8. medicaid
  9. others
24
Q

Priority of Claims in Involvement Estate

A
  1. intestate property
  2. residuary legacies
  3. general legacies
  4. specific legacies
25
Q

Venue to Probate or Administer Will

A
  1. where T resided
  2. where property located
  3. where T died
26
Q

Testamentary Capacity Req

A
  1. at time of execution
  2. know nature of act
  3. know nature of approx value of property
  4. know natural objects of bounty
  5. know disposition making
27
Q

Valid Will Req

A
  1. over 18 or married or in army
  2. testamentary intent
  3. two witnesses sign
  4. T signs

TX Essays (M. Walker) (12 decks)

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