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Decedents' Estates (Beneficiaries (Simultaneous death (Occurs when two…
Decedents' Estates
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Beneficiaries
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Anti-lapse
Statute that operates to save teh gift when the predeceased beneficiary was in a specified degree of relationship to the testator and left descendants
Slayer Act
If a beneficiary participates in any fashion in the willful and unlawful killing of hte testator, that beneficiary receives nothing under a will
Omitted after-born
If a testator fails to provide for any of his children born or adopted after hte execution of hte will, that child may receive a share of hte decedent's estate unless omission was intentional or they have provided for the child outside of the will
Simultaneous death
Occurs when two or more persons, one of whom is the beneficiary of the other, die under circumstances where there is insufficient evidence to determine which party survived the other
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Bequests
Types
Specific devise (gift of a specific article or other property which is identifiable and distinguishable)
General legacy (payable out of the general assets of the decedent's estate and not in any separated or distinguished fund from other things of the same kind)
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Satisfaction
Occurs when a gift has been satisfied by an inter vivos transfer from the testator to the beneficiary subsequent to the will's execution
Advancement
A lifetime gift made to an heir with the intent that the gift be applied against the heir's share of the estate
Spouse's elective share
Gives the spouse an election to take a statutory share in lieu of taking under the will. Generally the amount is one-third of the net probate estate if the decedent is survived by issue and one-half if the decedent is not survived by descendants
Revocation
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Presumptions
Arise when the will is found after a testator's death, but is mutilated
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Revival after revocation
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Otherwise only revived if it is evident from the circumstances of the revocation of the subsequent will or the testator's contemporary declarations that the testator intended the previous will to take effect as executed.
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