Law of Succession Act
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Spring 2014 Melanie Leslie – Trusts and Estates – Attack Outline 1
Spring 2014 Melanie Leslie – Trusts and Estates – Attack Outline Order of Operations (Will) • Problems with the will itself o Facts showing improper execution (signature, witnesses, statements, affidavits, etc.), other will challenges (Question call here is whether will should be admitted to probate) . Look out for disinherited people who have standing under the intestacy statute!! . Consider mechanisms to avoid will challenges (no contest, etc.) o Will challenges (AFTER you deal with problems in execution) . Capacity/undue influence/fraud o Attempts to reference external/unexecuted documents . Incorporation by reference . Facts of independent significance • Spot: Property/devise identified by a generic name – “all real property,” “all my stocks,” etc. • Problems with specific devises in the will o Ademption (no longer in estate) . Spot: Words of survivorship . Identity theory vs. UPC o Abatement (estate has insufficient assets) . Residuary general specific . Spot: Language opting out of the common law rule o Lapse . First! Is the devisee protected by the anti-lapse statute!?! . Opted out? Spot: Words of survivorship, etc. UPC vs. CL . If devise lapses (or doesn’t), careful about who it goes to • If saved, only one state goes to people in will of devisee, all others go to descendants • Careful if it is a class gift! Does not go to residuary unless whole class lapses • Other issues o Revocation – Express or implied? o Taxes – CL is pro rata, look for opt out, especially for big ticket things o Executor – Careful! Look out for undue -
Himelick Financial Group Joseph W
Himelick Financial Group Joseph W. Himelick, CLU, ChFC, MSFS Financial Planner 10900 Stonelake Blvd. Suite B-150 Austin, TX 78759 800-223-6983 [email protected] www.himelickfinancialgroup.com Wills May 02, 2016 Page 1 of 8, see disclaimer on final page Wills What is a will? A will may be the most vital piece of your estate plan, even if your estate is a modest one. It is a legal document that lets you direct how your property will be dispersed (among other things) when you die. It becomes effective only after your death. It also allows you to nominate an estate executor as the legal representative who carries out your wishes. In addition, in many states, your will is the only legal way you can name a guardian for your minor children. Without a will, your property will be distributed according to the intestacy laws of your state. The laws of your state also govern the validity of a will. What are the requirements? Requirements vary from state to state. Generally, for your will to be valid, the following requirements must be satisfied. You must be 18 and of sound mind Generally, you must be 18 years of age to execute a will, although some states have a different minimum age requirement. You also must be of sound mind. That means that you must have testamentary capacity--that you know and understand what property you own, its nature, who would inherit it, and the plan for disposition outlined in the will. You must also be free of undue influence or fraud at the time the will is drafted. -
Morris & Leach: the Rule Against Perpetuities
Michigan Law Review Volume 55 Issue 1 1956 Morris & Leach: The Rule Against Perpetuities William F. Fratcher University of Missouri Follow this and additional works at: https://repository.law.umich.edu/mlr Part of the Legal Writing and Research Commons, and the Property Law and Real Estate Commons Recommended Citation William F. Fratcher, Morris & Leach: The Rule Against Perpetuities, 55 MICH. L. REV. 149 (1956). Available at: https://repository.law.umich.edu/mlr/vol55/iss1/17 This Book Reviews is brought to you for free and open access by the Michigan Law Review at University of Michigan Law School Scholarship Repository. It has been accepted for inclusion in Michigan Law Review by an authorized editor of University of Michigan Law School Scholarship Repository. For more information, please contact [email protected]. 1956] RECENT BOOKS 149 RECENT BOOKS THE RuLE AGAINST PERPETUITIES. By]. H. C. Morris and W. Barton Leach. London: Stevens & Sons. 1956. Pp. xlviii, 336. $8.90. It is more than seventy years since the publication of a book on the Rule Against Perpetuities intended for the use of lawyers of the British Commonwealth. That period has seen John Chipman Gray's definitive ex position of the Rule, basic statutory changes in the English law of property, and a vast accumulation of precedent by the courts of the Commonwealth and the United States. The publication of such a book by a competent English scholar and a leading American authority is an event of major importance. The preface states that the book, in its present form, was written by Dr. -
Administration of a Deceased Wife's Interest in Community Assets Jerry A
Santa Clara Law Review Volume 4 | Number 1 Article 4 1-1-1963 Administration of a Deceased Wife's Interest in Community Assets Jerry A. Kasner Follow this and additional works at: http://digitalcommons.law.scu.edu/lawreview Part of the Law Commons Recommended Citation Jerry A. Kasner, Administration of a Deceased Wife's Interest in Community Assets, 4 Santa Clara Lawyer 30 (1963). Available at: http://digitalcommons.law.scu.edu/lawreview/vol4/iss1/4 This Article is brought to you for free and open access by the Journals at Santa Clara Law Digital Commons. It has been accepted for inclusion in Santa Clara Law Review by an authorized administrator of Santa Clara Law Digital Commons. For more information, please contact [email protected]. ADMINISTRATION OF A DECEASED WIFE'S INTEREST IN COMMUNITY ASSETS Jerry A. Kasner* Modern estate planning practice, emphasizing a minimization of death taxes and probate costs, often discourages the traditional legacy of property by one spouse to the other. Property so passing may be subjected to probate and taxation twice within a short period of time.' To prevent this, a surviving spouse may be given only a limited life interest, if any at all, in the estate of the deceased spouse, with the bulk of the beneficial interest passing to succeeding genera- tions.2 Often the use of the trust device to carry out such a plan results in the selection of independent trustees and executors to achieve certain tax advantages and to provide continuity in the ad- ministration of estate assets. This form of planning for the "splitting" of interest between husband and wife necessarily results in division of the community property upon the death of either. -
Jean Willey Trust
IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE In the Matter of: ) C.A. No. 5935-VCG JEAN I. WILLEY TRUST ) MEMORANDUM OPINION Submitted: July 22, 2011 Decided: August 4, 2011 William W. Erhart, Esquire, of WILLIAM W. ERHART , P.A., Wilmington, Delaware, Attorney for Petitioner, Scott Willey, Mark Willey and Deborah Willey, pro se , of 2311 Shaws Corner Road, Clayton, Delaware 19938, Respondents GLASSCOCK, Vice Chancellor. This is an action for approval of accounting and termination of a testamentary trust. Jean I. Willey (“Jean”), the testator, had four sons: Todd C. Willey (“Todd”), Mark E. Willey (“Mark”), Scott B. Willey (“Scott”), and Dale S. Willey (“Dale”). 1 In her will (“Jean’s Will”), executed on November 2, 2000, Jean devised $30,000.00 to Mark in a supplemental needs trust (“Mark’s Trust”), with the remainder of her estate to be divided equally among her four sons. Todd was named as the Trustee of Mark’s Trust in Jean’s Will; Dale was named the executor of the Will. Jean passed away on September 7, 2004. Although the testimony indicates that her estate was closed in May 2005, $30,000.00 in assets was placed in Mark’s Trust on May 17, 2005, and the remainder of Jean’s estate was then distributed equally to the four Willey brothers in September 2005. In April 2009, the Willey brothers sold Jean’s real property and the proceeds were distributed equally. Todd, the petitioner in this action, filed a motion on October 28, 2010 seeking approval of the trust accounting and the termination of Mark’s Trust, the corpus of which—according to Todd—is reduced to around $5,000 and should be turned over to Mark (via his guardians). -
Nuncupative Wills Stuart Dixon Jenks Cornell Law School
Cornell Law Library Scholarship@Cornell Law: A Digital Repository Historical Theses and Dissertations Collection Historical Cornell Law School 1895 Nuncupative Wills Stuart Dixon Jenks Cornell Law School Follow this and additional works at: http://scholarship.law.cornell.edu/historical_theses Part of the Estates and Trusts Commons Recommended Citation Jenks, Stuart Dixon, "Nuncupative Wills" (1895). Historical Theses and Dissertations Collection. Paper 22. This Thesis is brought to you for free and open access by the Historical Cornell Law School at Scholarship@Cornell Law: A Digital Repository. It has been accepted for inclusion in Historical Theses and Dissertations Collection by an authorized administrator of Scholarship@Cornell Law: A Digital Repository. For more information, please contact [email protected]. NUNCUtTATI'V WILLS. --- 000--- TILESIS PFRESENTED BY STUART DIXON JENYZ FOR TILE DGREE OF BACHELOR OF LAWS. 0000000--.-.. CORNTELL UWIV/ERSITY. SCHOOL OF LAW. 1895. --- 000---- CONTJIST page INTRODUCT-ION. , oV' .00 00-2. CHAPTER I, ROMAN WILLS. ........................ .... -. it II, ANGLO SAXON WILLS.7 i III, FROM THE NORLMN CONQUIST TO THE STATUTE OF FRAUDS .0w.8- 9 tt IV, NtUNC'UPATIVE WILLS UNDER TH STATUTE OF FRAUDS AND SIMILAR EqACTMENTS........................010-25. it V, MILITARY TESTAMEqTS IN ENGLISH AND AMERICAN LAW 26-30 --- 000---. NUNCUPATIVE WILLS. --- 000--- INTRODUCTI ON. Testamentary succession, it is now agreed, is an insti- tution of positive law. It grew cut of the idea of the universitas juris of the Romans, and wherever it has existed can be traced to Roman influence.(a) In the earliest times a mans children were considered to be his only rightful heirs, and at first the privalege of willing property was confined to thase who, had no children to succeed them. -
Oral Contracts to Make a Will and the Uniform Probate Code: Boon Or Boondoggle?
ORAL CONTRACTS TO MAKE A WILL AND THE UNIFORM PROBATE CODE: BOON OR BOONDOGGLE? DENNIS W. COLLINSt A verbal contract isn't worth the paper it's written on.* Whether one is a movie mogul or a practicing lawyer, the prob- lem with oral contracts has long been recognized. Such problems have been prevalent in the estate and estate planning area. The best laid estate plans may come to naught when a despised relative shows up after death claiming to have had a contract with the deceased to receive all of the deceased's estate.' I. INTRODUCTION If a man can'tforge his own will, whose will can heforge?** Contracts to make a will occur in a variety of factual situations. Very often they involve the elderly. As people grow older, their reli- ance on others normally increases because of their inability to care for themselves. This is especially true of those who have lost spouses and who, as a result, come to rely on relatives for normal needs such as housing and food. The furnishing of these services by a friend or relative may be motivated by a variety of reasons, including friend- ship, good samaritanism or, unfortunately, greed. In many instances, no mention is ever made of compensation to the providers. In such a situation, after the death of the one receiv- ing the services, the providers may claim there was an oral contract to make a will, under the terms of which they were to be left certain property in exchange for their providing care for the deceased.2 Such a "contract" may have been the last thing on the mind of t Partner, Jewell, Gatz, Collins & Dreier, Norfolk, Nebraska; Fellow, American College of Probate Counsel; B.A., 1968; J.D., 1971, University of Nebraska. -
Chapter 1 the Concept of Property Related to Wills, Trusts, and Estate Administration
CHAPTER 1 THE CONCEPT OF PROPERTY RELATED TO WILLS, TRUSTS, AND ESTATE ADMINISTRATION LEARNING OBJECTIVES Students should be able to do the following: • Identify, explain, and classify the various kinds of property, such as real and personal property or probate and nonprobate property. • Recognize and understand the terminology associated with property law. • Distinguish the various forms of ownership of real and personal property and explain the requirements for their creation and function. • Understand and explain why courts do not favor the creation of joint tenancies between parties other than spouses. • Identify the community property states and differentiate between community and separate property. • Explain the kinds, methods of creation, and characteristics of estates in real property. LECTURE OUTLINE I. Scope of the Chapter A. Property (real and personal) is the essential component that establishes the need for and purpose of wills and trusts. B. Everyone owns some type of property. C. Property can be transferred by its owner during the life of the owner by gift, by sale, or by creating a trust. D. After the owner dies, property can be transferred in a will, by provisions of a testamentary trust, or by intestate succession laws. E. Understanding the law of property and its terminology is required before paralegals can draft wills and trusts and assist clients with estate administration. Such understanding includes the following: 1. Terminology of the law of property 2. The law of property’s association with wills, trusts, and estate administration 3. Related statutes and court decisions 4. Forms in which property can be owned 5. Estates in real property, including freeholds and leaseholds II. -
Speaking for the Dead: Voice in Last Wills and Testaments Karen J
St. John's Law Review Volume 85 Article 12 Issue 2 Volume 85, Spring 2011, Number 2 April 2014 Speaking for the Dead: Voice in Last Wills and Testaments Karen J. Sneddon Follow this and additional works at: http://scholarship.law.stjohns.edu/lawreview Recommended Citation Sneddon, Karen J. (2014) "Speaking for the Dead: Voice in Last Wills and Testaments," St. John's Law Review: Vol. 85: Iss. 2, Article 12. Available at: http://scholarship.law.stjohns.edu/lawreview/vol85/iss2/12 This Article is brought to you for free and open access by the Journals at St. John's Law Scholarship Repository. It has been accepted for inclusion in St. John's Law Review by an authorized administrator of St. John's Law Scholarship Repository. For more information, please contact [email protected]. ARTICLE SPEAKING FOR THE DEAD: VOICE IN LAST WILLS AND TESTAMENTS KARENJ. SNEDDONt INTRODUCTION ................................. ..... 684 I. FUNCTION OF WILLS ........................... .......685 II. VOICE ..................................... ...... 689 A. Term Defined. ...................... ....... 689 B. Applicability of Voice to Wills ............ ..... 696 C. Pitfalls.......................... ........ 708 D. Benefits ............................ ..... 720 III. VOICE IN WILLS ........................... ..... 728 A. Voice in Non-Attorney Drafted Wills ...... ...... 728 1. Nuncupative Wills ................. ...... 729 2. Ethical Wills...... ................. 729 3. Holographic Wills .................. ..... 732 4. Commercial Fill-in-the-Blank Forms and -
Videotape and the Probate Process: the Nexus Grows
Oklahoma Law Review Volume 42 Number 1 1-1-1898 Videotape and the Probate Process: The Nexus Grows Gerry W. Beyer William R. Buckley Follow this and additional works at: https://digitalcommons.law.ou.edu/olr Part of the Law Commons Recommended Citation Gerry W. Beyer & William R. Buckley, Videotape and the Probate Process: The Nexus Grows, 42 OKLA. L. REV. 43 (1989), https://digitalcommons.law.ou.edu/olr/vol42/iss1/3 This Article is brought to you for free and open access by University of Oklahoma College of Law Digital Commons. It has been accepted for inclusion in Oklahoma Law Review by an authorized editor of University of Oklahoma College of Law Digital Commons. For more information, please contact [email protected]. VIDEOTAPE AND THE PROBATE PROCESS: THE NEXUS GROWS GERRY W. BEYER* WrriuA R. BucKLEY** The legal profession, steeped in tradition and precedent, is often leery of change. For example, the legal community utilized scriveners until three hun- dred years after the development of the Gutenberg flatbed printing press,' and legal documents continue to ooze lawyerisms, tautologies, and other language that has little, if any, practical value.' The profession's ability to serve its primary purpose of facilitating the maintenance and smooth func- tioning of society is hindered by its failure to avail itself of technological and societal developments. 3 Only by embracing and developing new techniques will attorneys be equipped adequately to provide clients with competent and 4 complete legal services. One of the newly developed techniques readily available to attorneys is videotape recording. In 1969 a Florida appellate court became the first court to rule on the admissibility of videotaped evidence. -
The Intestacy Manual 2016
THE INTESTACY MANUAL 2016 FOR PROCEEDINGS IN TEXAS PROBATE COURTS STEVE M. KING JUDGE TARRANT COUNTY PROBATE COURT NUMBER ONE FORT WORTH , TEXAS REVISION DATE – OCTOBER 2015 DIVISION OF PROPERTY UPON INTESTACY IN TEXAS I. COMMUNITY PROPERTY (§201.0032, Texas Estates Code) 1. With Surviving Spouse, and Children (or their descendants): A) where Surviving Spouse and Decedent are parents of all Children Surviving Spouse ------------------------------------------------------------------------ All B) where Surviving Spouse and Decedent are NOT the parents of all Children: Surviving Spouse retains Surviving Spouse’s ½, takes NONE of Decedent's ½ Children or their descendants -------------------------- take ALL of Decedent’s ½ ------------------------------------------------------------------------------ 2. With Surviving Spouse only: Surviving Spouse---------------------------------------- All 3. With Children or their descendants only Children or their descendants ---------- All II. SEPARATE PROPERTY 1. With Surviving Spouse (§201.002, Texas Estates Code) A) With Children or their descendants 1) Pers Prop: a) Surviving Spouse -------------------------------------------------- ⅓ b) Children and their descendants ----------------------------------- ⅔ 2) Real Prop: a) Surviving Spouse has life interest in ---------------------------- ⅓ (with remainder to Children and their descendants) b) Children and their descendants have fee in --------------------- ⅔ & remainder in ------------------------------------ ⅓ B) Without Children or their descendants -
Wills and Will Planning RBC Wealth Management
Private Banking Wills and Will Planning RBC Wealth Management RBC Wealth Management® provides comprehensive services designed to address your multi-faceted financial concerns, simplify your life, give you the freedom to pursue your other priorities and provide you with the confidence that your goals will be achieved. Whether you need assistance managing your family’s wealth, maximizing your business investments or providing stewardship for non-profit assets, RBC Wealth Management brings together the solutions you need in key areas such as financial planning, private banking, investment management and estate and trust services. Tailored to your individual needs by your RBC® advisor, RBC Wealth Management provides the specific services you need, today and in the future. Your RBC advisor, supported by a team of specialists, helps you address your various wealth management needs through each stage of your life: > Accumulating wealth and growing your assets > Protecting your wealth by managing risk > Managing the affairs for a loved one > Converting your wealth to an income stream > Transferring wealth to your heirs > Creating an enduring legacy RBC WEALTH MANAGEMENT PUBLICATIONS To help you understand your choices and make informed decisions, RBC publishes a wide variety of financial, tax and estate publications, written by leading authorities on wealth management for high-net-worth Canadians. Please ask your RBC advisor for more information about other RBC Wealth Management publications. TABLE OF CON T EN T S 1. The importance of your Will