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16 Cards in this Set
- Front
- Back
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01 Will
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Under EPTL, a will is a written or oral legal declaration by which a testator names a person or persons to manage his estate and provides for the transfer of his property at death. A properly executed will must include the following six elements:
1. In writing 2. Signed by the testator or by someone acting in his presence and on his behalf 3. Signed at the end of the document 4. Signed by the testator in the presence of at least two attesting witnesses (or a previous signature acknowledged by two witnesses) 5. Declared or published by the testator 6. Signed by the attesting witnesses within 30 days of each other. |
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02 Testamentary Beneficiary
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Under EPTL, a testamentary beneficiary is one in whose favor a disposition of property is made by will, including both a devisee and a legatee.
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03 Issue
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Under EPTL, issue refers to descendents in any degree from a common ancestor and the recipients of a class gift.
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04 Probate Estate
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Under EPTL, the probate estate is the aggregate real and personal property that a person possesses at the time of death that descends to the heirs, subject to the payments of debts and claims.
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05 Intestate Distribution
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Under EPTL, intestate distribution occurs when a person dies without a will, with an invalid will, or with a will buy part of the property does not pass under the will.
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06 Holographic Wills
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A holographic will is a will that is entirely handwritten by the testator, but lacking the formalities as required by New York law.
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07 Codicil
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Under EPTL, a codicil is an instrument that is executed subsequent to a will. It is executed with the same formalities as a will and adds or modifies the provisions of a will, in whole or in part.
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08 Republication by Codicil
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Under EPTL, republication is the act or an instance reestablishing the validity of a previously revoked will by repeating the formalities of execution or by using a codicil.
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09 Distributee
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Under EPTL, a distributee is a person entitled to take or share in the property of a decedent under the statutes governing descent and distribution.
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10 Disposition
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Under EPTL, disposition is any transfer of property made during a person's life or by will.
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11 Advancement
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Under EPTL, advancement is an irrevocable transfer of property to another that is intended by the donor to satisfy wholly or partially an expected distribution to that person from the donor's estate.
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12 Nuncupative Wills
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Under EPTL, a nuncupative will is an oral will made in contemplation of imminent death from an injury recently incurred.
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13 Testimony Requirement
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Under EPTL, nuncupative wills must be established by the testimony of at least two witnesses.
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14 Pretermitted Heirs
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Under EPTL, pretermitted heirs are children that were born after the execution of a valid will.
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15 Ademption
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Under EPTL, ademption is a testator's revocation of a bequest or legacy by disposing of the gift before the will takes effect at death.
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16 Probate
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Under EPTL, probate is the process by which a will is established as the valid last will of a decedent.
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