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10 Cards in this Set
- Front
- Back
- 3rd side (hint)
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When Instestate Distrubution Rules Apply
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1. Person dies w/o valid will
2. Will denied probate 3. Will doesn't completely dispose of estate (partial intestacy) |
3 times (Will Probably Doesn't)
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WHAT LAW GOVERNS
Gen, the law of state where decedent was domiciled at death determines the disposition of ___ ___. |
Personal Property
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WHAT LAW GOVERNS
Disposition of ___ ___ os determined by law of state where prop is located. |
Real Property
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Intestate statutes (or a will) apply only to a decedent's ___ estate.
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Probate
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a.k.a "testamentary"
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Probate estate consists of two different types of assets. What are they?
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1. Assets that pass by will or inheritance
2. Assets that are subj to administration by decedent's PR (cash, real estate, personal effects). |
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What are nonprobate assets?
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1. Prop that passes under K
2. Prop held w/ another w/ right of survivorship 3. Trust assets where decedent is trustee or beneficiary 4. Assets over which decedent holds power of appointment |
(there are four)
POAched ROSe Tea, K? |
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In which Js does surviving spouse take an intestate share?
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All Js
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Typically, what share does surviving spouse take if decedent is survived by spouse and decedentants?
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1/2 or 1/3
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two options
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Under the ORIGINAL UPC, if decedent is survived by a spouse/descendants and descendants are NOT descendants of the surviving spouse, how much of the estate passes to spouse and how much to decedent's descendants?
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1/2 to spouse and 1/2 to decedent's descendants.
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Under ORIGINAL UPC, if decedent's descendants are also descendants of the surviving spouse, how much does the spouse take? How much do descendants take?
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Spouse: first $50,000 plus 1/2 balance of estate
Descendants: remaining 1/2 of estate |
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