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Estates (Bequests (Types (Specific, General), Advancement (lifetime gift…

- - - - writing
  - - - property adeems/no substitution
  - - - Most states 1/3 of net spousal property if issue exist
- - - - does not automatically pass to heirs
      - Anti-lapse statutes
        
        most states
        
        UPC
        
        Residue
  - - - Writing/record
      - Declare
      - Describe interest
      - Signed
      - Delivered/filed
- - - - Divorce
    - - subsequent writing
    - - burn/tear/cancel/obliterate/destory
  - - - Revoke w/ intent to replace
- - - - Settlor's Capacity
      - Intent
      - Trustee
      - Res- trust property
      - Identifiable Benficiary
      - Proper Purpose
      - Statute of Frauds
    - - Settlor can revoke/modify unless irrevocable
      - Beneficiaries
        
        If conflicts w/ material purpose, settlor's consent required
        
        If modification does not conflict, consent not required
        
        If all beneficiaries do not agree, court may modify/terminate
      - Trustee if value less than $50,000
    - - Beneficiary cannot transfer his interests
    - - Vest additional power in the trustee to decide when to distribute income of the trust
  - - - Implied Trusts
      - Resulting Trusts
        
        equitable remedy to return property to rightful owner
        
        failure of express trust
      - Constructive Trusts
        
        deprive wrongdoer from retaining improperly obtained property
        
        equitable remedy
    - - Private Express Trusts
        
        Most trusts
      - Charitable Trusts
        
        Like private express trusts
        
        Indefinite Beneficiaries
        
        Charitable purpose
        
        Relief of Property
        
        Adv. of Education
        
        Adv. of Religion
        
        Promotion of health
        
        govt/municipal purposes
        
        community
        
        Purpose can be broad
        
        objective to benefit public
        
        Rule Against Perptuities
        
        Cy Pres Dcotrine
        
        Termination
      - Express Trusts
        
        Inter vivos
        
        Testamentary
  - - - Settle/abandon claims
      - Exercise all rights/powers
      - borrow money
      - sell/lease assets
      - apportion trust income
      - incur reasonable expenses to maintain property
    - - duty of loyalty and food faith
      - duty to preserve trust property/make productive
      - prudent investor rule
      - duty to dispose of wasting/non-productive assets
      - duty to maintain accounting of transactions
      - duty to enforce claims and defend trust from attack
- - - - Holographic Wills
    - - Any Mark
    - - Signature at end of will
      - published will
      - Witnesses in presence
  - - - Incorp. by reference
  - - - 18 yrs old
      - Understands nature of act
      - Nature/extent of property
      - Beneficiaries are natural object
      - Testator understand deposition
    - - Influence exerted on testator
      - over powering free will
      - but for influence
    - - Misrepresentation
      - Inducement
- - - - equal shares at first surviving generation
  - - - same, but all takers w/ deceased parents at generational level divide equally