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Estates - Coggle Diagram
Estates
Revocation
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Physical act
burning, tearing, canceling, obliterating, or destroying the will or any part of it.
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Bequests
under a will are subject to ademption, satisfaction, advancement, and a spouse's elective share
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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
Specific bequest
a gift of a specific article or other property, which is identified and distinguished from all other things of the same kind and is satisfied only by delivery of the particular thing
Satisfaction
when a gift has been satisfied by an inter vivid 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
Intestate Succession
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if no surviving descendants, the spouse takes the entire estates
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Will
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Contests
Fraud
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fraud in the inducement would be a misrepresentation as to facts that would influence the testator's motivation to make a will in the first place
Mental Capacity
1) understands the nature of the disposition; 2) understands the nature & extent of the property; 3) 18 years old; 4) understands the nature of the act; 5) beneficiaries are the natural objects
Undue Influence
1) influence exerted on testator; 2) effect of influence overpowers the testator's mind & free will; 3) product of influence was a will not being executed but for the influence
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