Escolar Documentos
Profissional Documentos
Cultura Documentos
WILLS:
WILLS GENERALLY:
Choice of Law
Ethical Issues in Will Drafting
The roles of testamentary formalities
Requirements of a Valid Will:
o 1. Capacity: LEGAL &
TESTAMENTARY
o 2. Testamentary Intent
o 3. Compliance with Statutory
Formalities.
Statutory Formalities for Wills
o 1. In Writing
o 2. Signed
o 3. Witnessed
Self-Proved Will
Holographic Wills
Dispensing with Formalities
o Harmless Error
o Substantial Compliance
WILL COMPONENTS:
Integration
Incorporation by Reference
Republication by Codicil
Acts (Events) of Independent Significance
Memorandum at Death/Separate Writing
Pour-Over Wills
WILL REVOCATION
Improper Execution
Lack of Testamentary Capacity
o Lack of General Testamentary Capacity
o Insane Delusions
Lack of Testamentary Intent
Undue Influence
Fraud
Duress
Tortious Interference with an Expectancy
In Terrorem/No Contest Clauses
o General
o Demonstrative
o Residuary
Lapse/Antilapse
o Simultaneous Death Rule
Sufficient Evidence Test:
120-Hour Rule
o Class Gift:
Changes in Property
o Abatement
o Ademption (By Extinction/Satisfaction)
o Accessions
Exoneration
o Apportionment
Disclaimers
Capacity v. Incapacity
o Functional Capacity
o Legal Capacity
What happens WITHOUT advance planning for
incapacity?
o 1) CONSERVATOR
2
o
Financial
1) Financial Power of Attorney
2) Inter Vivos Revocable Trust
Health Care
TRUSTS:
INTRO:
Definitions
o Merger Doctrine
Mandatory v. Default Rules
CREATION OF TRUSTS
Elements/Requirements of a Trust:
o A valid purpose
o A competent settlor
o A trustee
o An intent to create a trust
o Property = Corpus (Res) + Delivery
o 1 or more beneficiaries.
Types of Trusts:
o Trusts for a Purpose:
Charitable Trusts
Pet Trusts
o Private Trust
o Inter Vivos Trust
o Testamentary Trust
o Revocable Trust
o Irrevocable Trust
o Oral Trusts
o Secret Trusts & Semi-Secret Trusts:
Secret Trusts
Semi-Secret Trusts
Remedies:
Constructive Trusts
Resulting Trusts
TRUSTEE RIGHTS/DUTIES:
Rights
3 Main Duties:
Acceptance of Trustee Position:
Resignation of Trustee
Trust Distributions
o Mandatory
o Discretionary
o Spray or Sprinkle Provisions
BENEFICIARY RIGHTS/DUTIES:
Duties
Types of Beneficiaries
RIGHTS OF CREDITORS: