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Transfers Upon Death
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Basic Premise
Life is 100% fatal.
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History of At-Death Property Disposition
1. Physical Strength and/or Finding
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History of At-Death Property Disposition
2. Bury with Decedent
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History of At-Death Property Disposition
3. Intestate Succession
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History of At-Death Property Disposition
4. Wills
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History of At-Death Property Disposition
5. Will Substitutes
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Intestate Succession
Common Law Split:
Crown = real property
Church = personal property
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Intestate Succession -- Terminology
Descent = succession to real property
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Intestate Succession -- Terminology
Distribution = succession to personal property
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Intestate Succession -- Terminology
Heir = person who receives property from an intestate decedent
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Testate Succession -- Terminology
At common law –
Will = real property
Testament = personal property
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Testate Succession -- Terminology
Devise = gift of real property
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Testate Succession -- Terminology
Bequest = gift of personal property
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Testate Succession -- Terminology
Legacy – gift of money
X
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Testate Succession -- Terminology
Beneficiary = any recipient of property (any type)
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Testate Succession -- Terminology
Codicil = amendment to an existing will
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Requirements of a Valid Will
1. Legal Capacity
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Requirements of a Valid Will
1. Legal Capacity
2. Testamentary Capacity (“sound mind”)
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Requirements of a Valid Will
1. Legal Capacity
2. Testamentary Capacity
3. Testamentary Intent
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Requirements of a Valid Will 1. Legal Capacity
2. Testamentary Capacity
3. Testamentary Intent
4. Formalities Attested will (written, signed, witnessed) Holographic will (handwritten, signed) Nuncupative will (oral)