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12 Cards in this Set
- Front
- Back
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Give AID…
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A – Acceptance (usually implied)
I – Donative Intent D – Effective Delivery |
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…and you’ll deliver an ACE
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A – Actual
C – Constructive E – Escrow |
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A valid will must be SWEPT
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S – Signed by an adult testator
W – In Writing E – Signed at the End by the testator P – Published T – Two witnesses (who don’t have to be adults) must sign within 30 days of each other, in the testator’s presence |
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Foreign wills are valid in NY, if valid in SWEDEN
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S – Signed by the testator
W – In Writing (no nuncupative wills except for military personal), and the will was properly executed in accordance with the laws of EDEN: E – The state where it was Executed D – The testator’s domicile at Death E – The testator’s domicile when he Executed the will N – The laws of NY |
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A will contest can TIE the executor’s hands
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T – Lack of Testamentary capacity
I – Undue Influence E – Improper Execution (improperly SWEPT) |
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I FACED SIR sidesteps an in terrorem (“no contest”) clause
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I – An Infant can always object to will without violating a no contest clause
F – Litigating to establish the will as a Forgery, but only if based on probable cause A – Demanding an Accounting or questioning the conduct of the fiduciary C – Petitioning for a Construction of will provision to determine the testator’s intent E – Surviving spouse exercising the right of Election D – Pre-Trial Discovery of the SWEPT witnesses, the person who prepared the will, and/or the executor, prior to filing a TIE objection S – Objecting to Subject matter jurisdiction or the court’s jurisdiction over the will I – A person judicially declared Incompetent can object to the will without violating the no contest clause R – Where the will offered for probate was Revoked by a later will, based on probable cause |
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MAD CAR CLAW can alter an existing will
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M – Marriage of the testator
A – Afterborn children D – Divorce C – Common disaster A – Advancement of a bequest R – Renunciation by a beneficiary C – Cy pres of charitable bequests L – Lapsed legacies (but always consider NY’s Anti-Lapse Statute) A – Ademption or abatement W – Wrongfully killing the testator |
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If you can BRAG IT, J.P., you’ll increase your right of election
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B – Jointly-held US savings Bonds
R – 50% of decedent’s Retirement plan A – Shareholder Agreements entered into after the marriage that restrict sale or testamentary disposition of testator’s closely-held corporate stock G – Gifts causa mortis I – Inter vivos gifts, even to charity, exceeding $13,000 if made within the one year prior to the testator’s death (absent written waiver by other spouse) T – Pre- or post-marriage Totten trust bank accounts J – Post-marriage Jointly-held bank accounts or jointly-held real or personal property, but only to the extent that consideration was furnished by the decedent P – Assets in trust over which the decedent, during his lifetime, had a general Power of appointment to appoint the trust property to anyone |
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DAVIS and DAD defeat a surviving spouse’s rights
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D – Divorced
A – Annulled marriage D – Dissolved marriage D – A DAD decree A – Abandonment by the surviving spouse without the other spouse’s consent, which continued till the spouse’s death V – A Void marriage (bigamous or incestuous) I – The surviving spouse, as a plaintiff, had earlier obtained an Invalid DAD decree outside of NY S – The testator obtained a Separation judgment against the surviving spouse, based on the surviving spouse’s fault |
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DIE rights are defeated by DAVIS
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D – Wrongful Death proceeds from the other spouse’s death
I – Intestate share where the deceased spouse had no will E – Right of Election against the deceased spouse’s will |
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ALIS can use the anti-lapse statute
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Anti-Lapse --> Issue or Sibling of testator
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A killer is permitted to acquire property from the victim’s estate if the killing was in SIN
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S – Done in Self-defense
I – The killer was Insane at the time of the homicide N – The homicide was accidental (Negligent homicide) |
