Devises, abatement, and advancements

Question 1

Four types of devises

Answer 1

1. Specific
2. Demonstrative
3. General
4. Residuary

Question 2

Specific devise

Answer 2

a devise of property which is particularly designated and which is to be satisfied only by receipt of the particular property described

Question 3

Demonstrative devise

Answer 3

a devise of a fixed amount payable first from a particular fund or from proceeds of the sale of a particular item, and second, from general assets to the extent the general fund or item is insufficient or is not part of the estate

Question 4

General devise

Answer 4

devises that are neither specific nor demonstrative, but which indicate a particular amount or quantity to be received

Question 5

Residuary devise

Answer 5

gifts of whatever probate assets have not been devised by specific, demonstrative, or general devises

Question 6

Abate

Answer 6

Devises that are reduced because estate assets are needed for other purposes; there is an order of abatement of reducing assets

This happens if a spouse or child omitted from the will may have rights to a pretermitted share

Question 7

Abatement rules in testator’s will

Answer 7

The T can include abatement rules in his will – § 733.805

T can provide either a general order of abatement or can limit abatement to particular assets or devises

Question 8

Requirements for advancement

Answer 8

Property is treated as an advancement only if declared in a contemporaneous writing by the decedent or acknowledged in writing by the heir

Question 9

Advancement

Answer 9

early inheritance

Applies when decedent dies intestate