WT Flashcards
Survivorship period
Must survive 5 days to not be considered as predeceased
Per stirpes
Intestacy
Each child branch gets equal share - child’s descendants distribute original share
Per capita age generation
Intestacy
- Add each individual (takers and nontakers) in first taking generation and divide share accordingly
- Divide remaining amount by next generation takers
Laughing heir cutoff
Intestacy
Statutory - normally grandparent
Half siblings
Intestacy
Treated same as full siblings
Adopted children
Intestacy
No inheritence if
* Adopted as an adult
Inheritence rights are limited unless
* Adopted by step parent
* Adopted by another relative; or
* Both parents have died at time of adoption
Equitable adoption
Intestacy
Nonformal adoption can have inheritence if
* Child was treated like a bio-child
* Bio parent consented for child be treated as adopted
* Oftentimes foster kids or step kids
Posthumus children
Intestacy
Posthumus child can inherit if
* Born within 3 yrs and 9 mos of parent’s death
* Deceased parent consented to conceive
Non-marital children
Intestacy
Non-marital children must be treated as child and considered as child before age 18 to receive inheritence
Slayer rules
Bar to succession
If beneficiary kills (unitetional manslaughter, assisted suicide, etc) decedent, beneficiary cannot inherit
Disclaimer
Bars to succession
Heirs can disclaim property if they do not desire to inherit. Disclaiming party is treated as predeceasing the deceased for inheritence purposes
Probate property
Wills are executing through probate. If in will, estate will go through probate via intestacy
Non-probate property
- Inter vivos trust
- Life insurance
- Pay on death contracts
- Joint tenancy
Probate steps
- Jurisdiction
- Personal representative
- Letters testamentary to PR
Modern Per Stirpes
Intestacy
- Add each individual (takers and nontakers) in first taking generation and divide share accordingly
- Each branch flows from there as does per stirpes
