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Decedent's Estates - Coggle Diagram
Decedent's Estates
Validity
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Will execution: Be in writing, Testators signature, two disinterested witnesses (interested witnesses creates a presumption of undue influence). Generally must be "published" declared to be a will, must be signed at the end, witnesses must sign in the presence of eachother.
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Incorporation by reference: Include a separate document if: there is intent, doc exists at same time of execution, and document is described.
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Will Contests: Mental capacity, intent/undue influence, fraud, conditional will where condition not met, no-contest clause.
Intestate Succession
Per capita with representation: Property divided into equal shares at first generational level with living heirs. If one at that level is deceased, their heirs take equally dividing that share.
Per capita at each generational level: Property divided into equal shares at each generational level.
Parents, siblings, or collateral kin do not inherit if there are descendants. If no descendants, order is parents>siblings>sibling descendants.
Beneficiaries
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Anti-Lapse: If the deceased beneficiaries descendant is a descendent of the testator, they can be the heir to the gift. UPC extends this to stepchildren, grandparents, or descendant of the testator's grandparent.
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Omitted After-Born: Child born after will executed can claim a share unless shown to the intentionally left out or otherwise provided for, or the child's parent has been provided for.
Simultaneous Death: Two mutual beneficiaries die within 120 hours of each other, each is considered to have predeceased the other.
Bequests
Specific Bequest: Gift of a specific article or other property which is identified and distinguished, only satisfied by delivery of the certain thing. "My car" vs "a car".
General Legacy: Payable out of general assets of the estate, not separate or distinguished.
Demonstrative Bequest: Bequest a certain sum to be paid out of a particular fund. "100 shares of stock" vs "my 100 shares of stock".
Ademption: Property not in testator's possession at time of death. No substitute required, property is "adeemed". Does not apply to general or demonstrative legacies.
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Advancement: Lifetime gift made to an heir with the intent the gift is applied against heir's share of the estate. Must show intent of an advancement.
Elective Share: Surviving and omitted spouses are protected from disinheritance. Allows spouse to take a statutory share instead of abiding by the will. Under most statutes: 1/3 net probate estate if decedent is survived by issue and 1/2 if no descendants.
Revocation
By Operation of Law: Divorce, or marriage after execution
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Partial revocation and dependent relative revocation (old will revoked then death before new one is made).
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