Estates And Trusts

Front 1

Estates and Trusts

Requirements for Wills

Back 1

* Testator must be 18 or older

* Signed by Testator at END

* Will must have some operative effect

* Testamentary capacity mental capacity

Front 2

Estates and Trusts

Revocation of Will in PA

Back 2

Revocation by Physical Act

Revocation by Inconsistency

Revocation by Divorce

Interlineations

Dependent Relative Revocation

Front 3

Estates and Trusts

Requirement for revocation of Will by Physical Act

Back 3

Intent to Revoke and Requisite Physical Act

PA - can revoke by physical act partially or fully

PA - Presumption:
crumpled = revoked
unfound at death = revoked

Front 4

Estates and Trusts

Revocation of Will by Divoce

Back 4

General Rule: Divorce revokes all provisions in favor of ex-spouses - construe as if ex-spouse was dead, unless will shows was intended to survive the divorce

Remarry = not revoked

Front 5

Estates and Trusts

Revocation of Will by Interlineation

Back 5

Changes made to will after execution ONLY EFFECTIVE if will is re-executed or republished by codicil.

Front 6

Estates and Trusts

Revocation of Will by Dependent Relative Revocation

Back 6

The court can disregard revocation if it concludes that "but for" testator's mistake of law or fact that would have never made the revocation

Front 7

Estates and Trusts

Revival of Will

Back 7

Common Law = Will 2 revokes will 1 and then Will 2 revoked by physical act then will 1 can be revived by court.

PA = If Will 2 is revoked Will 1 cannot be revived.

Front 8

Estates and Trusts

Incorporation by Reference

Back 8

Allows incorporation of extrinsic document into Will if:

* The writing is in existence at the time will was executed

* Will must manifest intent to incorporate docment;

* Will must describe the writing sufficiently to permit its identification

PA = writing signed will be considered a codicil.

Front 9

Estates and Trusts

Doctrine of Independent Legal Significance

Back 9

Acts having independent lifetime motive may change bequest after execution

Front 10

Estates and Trusts

Lapse

Back 10

When a beneficiary named in the will dies before the testator the gift lapses and passes as part of the residuary estate.

Front 11

Estates and Trusts

PA Anti Lapse Statute

Back 11

A devise may be saved by the antilapse statute if devise is to:

* T's decedent

* T's sibling or

* A niece or nephew with issue that survives T

Passes according to statute not T's will

Front 12

Estates and Trusts

Abatement

Back 12

If T is partially insolvent some gifts will be eliminated or reduced

Front 13

Estates and Trusts

Order of Abatement

Back 13

Intestate Property

Residuary Bequest

General Bequest

Demonstrative Legacies

Specific Bequests

Front 14

Estates and Trusts

Ademption

Back 14

Prior to T's death, property specifically devised in a will is sold or destroyed.

C/L = T intent irrelevant & beneficiary takes nothing

PA Exceptions:
-Incompetence of Testator
-Incomplete Sale
-Condemnation Award
-Fire/Casualty Insurance Proceeds

Front 15

Estates and Trusts

Encumbrances on Specific Devises

Back 15

PA = A specific devisee is NOT entitled to have the encumbrance paid out of the residuary estate unless the will shows a specific intent to have the encumbrance paid.

Front 16

Estates and Trusts

Rule for Latent and Patent Ambiguities

Back 16

Extrinsic evidence is admissible to clear up either latent or patent ambiguities

In absence of clarifying evidence, the gift will fail.

Front 17

Estates and Trusts

Mistake

Back 17

CANNOT use extrinsic evidence to correct a mistake.

Plain meaning rule says that plain meaning of a will CANNOT be disturbed.

Front 18

Estates and Trusts

Intestate Decedent Survived by Spouse share:

Back 18

Spouse + No Issue + No Parent = ALL

Spouse + parent + No issue = First $30K + 1/2 of remainder

Spouse + issue:
All issue same parent = 30K + 1/2 remaining
Not all issue same parent = 1/2 of estate

Front 19

Estates and Trusts

Order of Distribution of Remaining Estate

Back 19

Decedent's Issue

Decedent's Parents

Decedent's Parents Issue (siblings nieces & newphews)

If No surviving issue - to parents

If parents deceased =

Front 20

Estates and Trusts

Method of Distribution of Decedent's Estate

Back 20

All living heirs of same degree = Per capita - divided equally

All hiers of not same degree = per stirpes (take by representation) 1 share for each line.

Front 21

Estates and Trusts

Survival Statute

Back 21

To inherit an heir must survive intestate individual for 120 hours (5 days)

Front 22

Estates and Trusts

Advancement (Intestacy)

Back 22

PA
No gift is an advancement unless:

1) Declared an advancement in a contemporaneous writing by decedent; or

2) Acknowledged as such in writing by heir.

Front 23

Estates and Trusts

Satisfaction (WILL)

Back 23

A lifetime is not prepayment of any interest under a will unless:

* the will provides for this treatment

* the testator declares the contemporaneous writing that gift was to be deducted or

* The devisee acknowledges in writing that the gift is satisfaction.

Front 24

Estates and Trusts

Share of Pretermitted Children
(Child born after will executed)

Back 24

Takes intestate share unless:

* it appears from the will that the omission was intentional or

* Entire etate was left to wife and she survives or

* the will is re-executed or republished.

Front 25

Estates and Trusts

Lack of Capacity Test

Back 25

DID T:

Understand the nature of the act?

Know the nature and character of his property

Know the natural objects of his bounty;

Understand the disposition he wished to make?

Front 26

Estates and Trusts

Undue Influence Test

Back 26

1) Confidential relationship b/w testator & beneficiary;
2) Beneficiary participated in significant activity relating to execution;
3) Will unnaturally favors that benefit.

Burden then shifts to proponent to prove not induced by his undue influence

Burden on contestant to prove:
1) existence and exertion of influence;
2) the effect of which was overpower the mind and will of the testator;
3) resulting in the execution of a will that expressed the will of someone other than the testator.

Front 27

Estates and Trusts

Nuptial Agreements

Back 27

Valid = full & fair disclosure did not violate any contractual rules;

Enforcement = PA treats as comm. contract. No further inquiry into fairness binding whether read or understood

Defenses = Fraud
Duress - PA physical force not treat to call off wedding.

Front 28

Estates and Trusts

Annulment

Back 28

Problem that predates marriage that prevents marriage from coming into being.

Front 29

Estates and Trusts

Void Marriages

Back 29

BIGAMY

INSANTIY OR SERIOUS MENTAL DISORDER

INCEST

No annulment needed; not waivable; collateral attack

Front 30

Estates and Trusts

Voidable Marriages

Back 30

Too Young

Intoxicated

Duress

Fraud

Incurable Impotence

Nee anulment; waivable; No collateral attacks.

Front 31

Estates and Trusts

Jurisdiction for Divorce

Back 31

One party must be in the domicile of form

Must have lived in the State for 6mths or longer;

Court has jurisiiction over both parties for economic remedies.