Components of Wills Flashcards
What must the proponent show to prove integration?
That the pages were present when the will was executed and were intended to be part of the will.
Intent and presence are presumed when there is a physical connection of the pages or an internal coherence in provisions running from on page to the next.
How is a codicil executed?
What is the effect of a codicil on the date of execution of the will?
With the same testamentary formalities as a will.
A will is treated as having been executed on the date of the last validly executed codicil
What is required to incorporate a document into the will be reference?
1) the document exists AT THE TIME the will is executed;
2) the will refers to the document as existing;
3) the will identifies and describes the document with reasonable certainty
Exceptions: lists of tangible personal property to be disposed and instructions to fiduciary can be incorporated regardless of whether prepared before/after execution of the will.
May a will dispose of property by reference to acts/events that have significance apart from their effect on the dispositions?
Yes, provided that the act has some lifetime significance or motive other than providing for testamentary gifts.
May non-probate assets (i.e. property passing by contract - life insurance proceeds, etc.) be disposed of by will?
No.
What is a power of appointment?
An authority created in a person (the donee) enabling her to designate, within prescribed limits, the persons who shall take the property and the manner in which they take it.
What are takers in default of appointment?
Persons designated to take property if the donee fails to exercise her power of appointment.
What is the difference between a general and special power of appointment?
A general power is exercisable in favor of anyone the donee chooses, including herself, her estate, or her credits.
A special power is exercisable in favor of a limited class that does not include the donee, her estate, or her creditors.
What is the difference between an inter vivos power and a testamentary power?
The inter-visos power is exercisable by the donee during her lifetime.
A testamentary power is exercisable only be the donee’s will.
Does a gift of “all of my personal property” include intangible personal property (e.g. stocks, bonds) as well as tangible personal property?
Yes.
When a list of items with a specific meaning (e.g. “furniture”), is followed by words of general import (e.g. “personal property”) how should the general words be construed?
To include on those items of the same import as the specific items listed.
When may a will beneficiary transfer (by gift) the remainder of an inherited life estate?
When the life estate was expressly given and coupled with absolute power of disposition
