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11 Cards in this Set
- Front
- Back
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What NY statute contains the rules of DECENT and DISTRIBUTION of property (both real and personal) in intestacy?
When does it typically apply? |
The EPTL.
Typically applies when: (1) The decedent LEFT NO WILL or DID NOT PROPERLY EXECUTE it; (2) The Will does NOT MAKE A COMPLETE DISTRIBUTION of the estate and results in partial intestacy. |
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Distribution Rule #1
When decedent survived by spouse and no children? |
Surviving spouse takes the WHOLE ESTATE.
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Distribution Rule #2
Decedent survived by spouse AND chidren? |
Surviving spouse takes $50k + 1/2 residuary.
Issue takes LEFTOVER residuary. |
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Distribution Rule #3
Decedent survived by children ONLY? |
Passes to children in EQUAL SHARES.
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Distribution Rule #4
Decedent survived by children AND issue of predeceased children? |
Passes to alive children AND the issue of dead children "by representation" (per capita at each generation).
Application: (1) divide property into as many shares as there are issue (alive+dead) at the first generational level at which there are survivors; (2) all LIVING issue at 1st generational level take ONE share; (3) shares of dead children at 1st generational level are COMBINED and DIVIDED EQUALLY among the takers as NEXT generational level. Remember: Issue in the same generation will ALWAYS have equal shares. |
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Can a party convey his interest in an expected inheritance BEFORE the person leaving the inheritance dies?
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No.
Thus, if a son executes a will leaving "all my property, including any interest I have in my mother's estate, to my wife" - the wife takes nothing IF the son dies BEFORE the mother. |
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Distribution Rule #5
Decedent NOT survived by spouse OR issue? |
Distribution is --
(1) All to parents or surviving parent; (2) If NOT survived by parents: All to issue of parents (i.e. siblings and issue of deceased siblings), who take per capita at each generation. |
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What is the default distribution rule in NY for when a decedent dies with predeceased children among his issue?
Does this rule apply even if decedent dies WITH a will? Can that default distribution be overruled by the decedent's will? What is the default rule in other states? And how does that work? |
In NY, the default distribution is PER CAPITA AT EACH GENERATION.
Yes, per capital applies EVEN if decedent dies with a will. (e.g. "to the issue of my brother", where the brother has deceased children) Yes, the default distribution CAN BE OVERRULED in a decedent's will. In most other states, the default rule is PER STIRPES -- meaning that the issue of a predeceased child takes the share that the predeceased child would have taken if alive. |
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Adopted Child's Inheritance Rights Rule #1
General Rule regarding inheritance rights for adopted children and their issue? |
Adopted children have FULL inheritance rights from the adopted family.
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Adopted Child's Inheritance Rights Rule #2
Child adopted by a new family? |
NO inheritance rights from natural parents or other members of the birth family.
EXCEPTION -- If child adopted by the SPOUSE OF A BIRTH PARENT then child can inherit from the adopting parent AND either birth parent. (i.e. OLD + NEW) |
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Adopted Child's Inheritance Rights Rule #3
Child adopted by a relative (e.g. aunt or uncle)? |
If the adopted child is related to the decedent by both a birth relationship AND an adopted relationship, the child inherits UNDER THE BIRTH RELATIONSHIP ONLY.
UNLESS decedent was the adopting parent, then the child inherits under the adoptive relationship only. |
