transfers upon death
DESCRIPTION
Transfers Upon Death. Basic Premise. Life is 100% fatal. History of At-Death Property Disposition. 1. Physical Strength and/or Finding. History of At-Death Property Disposition. 2. Bury with Decedent. History of At-Death Property Disposition. 3. Intestate Succession. - PowerPoint PPT PresentationTRANSCRIPT
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Transfers Upon Death
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Basic Premise
Life is 100% fatal.
![Page 3: Transfers Upon Death](https://reader035.vdocument.in/reader035/viewer/2022062815/568168e6550346895ddfe757/html5/thumbnails/3.jpg)
History of At-Death Property Disposition1. Physical Strength and/or
Finding
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History of At-Death Property Disposition2. Bury with Decedent
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History of At-Death Property Disposition3. Intestate Succession
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History of At-Death Property Disposition4. Wills
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History of At-Death Property Disposition5. Will Substitutes
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Intestate Succession
Common Law Split:
Crown = real property
Church = personal property
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Intestate Succession -- TerminologyDescent = succession to real
property
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Intestate Succession -- TerminologyDistribution = succession to
personal property
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Intestate Succession -- TerminologyHeir = person who receives
property from an intestate decedent
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Testate Succession -- TerminologyAt common law –
Will = real property
Testament = personal property
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Testate Succession -- TerminologyDevise = gift of real property
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Testate Succession -- TerminologyBequest = gift of personal
property
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Testate Succession -- TerminologyLegacy – gift of money
X
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Testate Succession -- TerminologyBeneficiary = any recipient of
property (any type)
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Testate Succession -- TerminologyCodicil = amendment to an
existing will
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Requirements of a Valid Will1. Legal Capacity
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Requirements of a Valid Will1. Legal Capacity
2. Testamentary Capacity (“sound mind”)
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Requirements of a Valid Will1. 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)