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ESTATES - Coggle Diagram
ESTATES
2. Revocation
Methods
Operation of Law
Testator divorces after making will - all provisions in favor of the ex-spouse become ineffective for all purposes UNLESS the provisions were intended to survive the divorce
Surviving spouse marries testator after testator executed the will - surviving spouse is entitled to the value of the share they would have received in the testator had died intestate
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Physical Act - burning, tearing, canceling, obliterating, or destroying the will or any part of it
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Dependent Relative Revocation - testator revokes an old will with the intention (shown by evidence) that a newly executed will replaces it, usually due to mistake of law or fact where the testator would have made a different bequest but for the mistaken belief; if new will is not made or is invalid, some jurisdictions will admit the revoked will to probate
Presumptions arise when the will is found after a testator's death, but is multilated; must be some extrinsic evidence to show testator's intent
Revival After Revocation upon undergoing all formalities of making a will or by codicil, otherwise, the previous will is revived ONLY 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
1. Validity
Will Types
Holographic (not witnessed)
All material parts of the will must be in the testator’s handwriting AND must be signed by the testator
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Nuncupative wills (oral/deathbed wills)
must be made when death is imminent; can only be used to transfer personal, not real, property
->not allowed in most states or on the UBE
Will Contests
Fraud
(1) fraud in fact or in the execution involves misrepresentation as to the nature of the contents of the will OR (2) fraud in inducement of making the will involves a misrepresentation as to facts that would influence the testator's motivation to make a will in the first place
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Undue Influence
(1) influence exerted on testator (physical or mental); (2) effect of influence overpowers the testator's mind and free will; and, (3) product of influence was a will not being executed but for the influence
Testamentary Intent
can be missing when there is undue influence, fraud in the execution or inducement of making the will, mistake in the execution or inducement of making the will, or a conditional will
Will Exceution
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Incorporation by reference
allows a testator to incorporate a separate document if the testator intends to include it, the doc exists at the time of execution, and the doc is described
Acts of independent significance
allows a testator to dispose of property even if events may occur before or after execution of the will
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Pour over provisions (usually permitted)
allows testators to dispose of property into an inter vivid trust if the (1) will is valid, (2) trust is identified in the will, and (3)trust is created before or concurrently with the will
3. Bequests
subject to ademption, satisfaction, advancement, and a spouse's elective share
Specific Bequest
gift of a specific article or other property, which is identified and distinguished from all other things of the same kind; satisfied ONYL by delivery
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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4. Beneficiaries
becomes an issue if B dies prior to testator OR child of testator is not included as a B
B dies before testator
gift lapses or fails and instead falls into the residue UNLESS state has anti-lapse statute
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