Chapter 3 Flashcards
A different name for a gift by will of personal property
Legacy
A gift by will of personal property
Bequest
A person who makes a gift by will of personal property.
Legator
A person who receives a gift by will of personal property.
Legatee
A gift by will of a particular item of personal property
Specific bequest
A gift by will of a sum of money from a specified fund or from the sale of a particular property.
Demonstrative bequest
A gift by will of an amount of money.
General bequest
A gift by will of all the remaining property owned by the decedent that has not been gifted in another clause.
Residuary bequest
A gift by will of real property. Today under the UPC also known as a bequest
Devise
A proportional reduction of gifts to beneficiaries because the estate lacks sufficient funds to pay the decadents debts.
Abatement
A gift by will fails because it is no longer owned by the testator or it is no longer in existence.
Ademption
A gift by will that fails because the beneficiary predeceased the decedent or the beneficiary is unwilling to take the item
Lapse
A legislative enactment that passes the gift of property to a deceased beneficiaries heirs rather than through the wills residuary clause or intestate succession statute.
Anti lapse statute
An heir or beneficiary does not inherit from the decedent if the heir or beneficiary killed the decedent.
Slayers rule or slayers statute
Also known as administrator or executor. A legal representative appointed by the court to administer the decadents estate.
Personal representative
A person nominated in the will to carry out the directions and the distribution of gifts contained in the will.
Executor
A temporary return to mental capacity.
Lucid interval
An oral will made by the testator in anticipation of death gifting personal property and made in the presence of a witness.
Nuncupative will
A will written entirely in the testators handwriting and not witnessed
Holographic will
An extra witness to a will beyond the statutorily required number.
Supernumerary witness
As provided by statute, a will that removes some of the requirements of proof to be admitted to probate. Usually a self. Proving affidavit is used.
Self proving will
A public officer that administers oaths and certifies signatures as genuine.
Notary public
A clause that states where, when, and whom the notary public is that is certifying the signature
Jurat
Subject to change
Ambulatory