Testate Sucession (Construe)

Question 1

Types of devises

Answer 1

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

Question 2

Specific Devise

Answer 2

a gift of realty/personalty that you can point to. (i.e. Blackacre, specific vehicle, “MY”)

Question 3

Demonstrative Devise

Answer 3

a gift of a general nature coming from a particular source. (i.e. 100k to A from the sale of my house, doesn’t matter which dollar bills).

Question 4

General devise

Answer 4

a gift that is payable out of the general assets of the estate. Doesn’t have to be from a particular assets (i.e. cash amounts).

Question 5

Residuary Dispositions

Answer 5

All thats left

Question 6

Ademption by extinction (changes in property after will execution)

Answer 6

can only occur w/ a specific devise. If property of like character then can be deemed a replacement. If property was merely moved, then its not extinct.

Question 7

Insured Property 6 month rule

Answer 7

If w/n 6 months before T’s death. B may either accept accrue and unpaid insurance proceeds OR amount that had actually been paid out.

Question 8

Lost/stolen/destroyed w/n 6 months of death

Answer 8

If this happened w/n 6 months of death AND prop was covered by ins, the B is entitled to receive:

1. damaged prop
2. condemned prop

Question 9

Specific gifts of securities “my”: increase in value

Answer 9

entitled to any increase in value that is the result of actions taken by the corp entity.

Question 10

Specific gifts of securities “my”: Stock split or merger/sale of the corp.

Answer 10

The beneficiary would receive any shares acquired through a stock split, or any shares of another entity received as a result of a merger or sale of the original corporation.

Question 11

Specific gifts of securities “my”: General Gift

Answer 11

If the bequest is general, the beneficiary may or may not receive the value of the stock depending on whether the testator intended to refer to particular stock owned or to shares that might be purchased by the executor after the testator’s death.

Question 12

Abatement

Answer 12

if the assets of the T’s estate are insufficient, after payments of all claims against the estate, to satisfy all the bequests or devises, the b’s shares abate.

Question 13

If the will does not say how to pay for abatement, the shares of distribution will abate in this order:

Answer 13

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

Question 14

Exoneration doctrine

Answer 14

If realty passes to a B by will or intestacy, any personalty in the estate is liable for the satisfaction of liens on that realty, unless the will specifically provides otherwise.

Question 15

When class changes after will execution

Answer 15

Classes can open for new children/members.

Question 16

Rule of convenience

Answer 16

a class closes, if not stated to the contrary, when any member thereof can demand an immediate share “call for a distribution”.

Question 17

If a class gift is immediate, then

Answer 17

if closes at T’s death

Question 18

If class gift is postponed, then

Answer 18

class will remain open until the time set for distribution.

Question 19

Lapse***

Answer 19

Occurs when a disposition fails b/c the B predeceased the T. Will either lapse into residue and if residue lapses then it will pass through intestate succession.

Question 20

Anti-lapse Statute

Answer 20

A lapse gift will be saved where the B has left descendants.
Exception: if T specifically says the statute doesn’t apply.

Question 21

Lapse analysis

Answer 21

1. if the PDB was closely enough related to the T, and
2. the PDB left surviving descendents of their own, then
3. those surviving descendants will take the gift unless the will expresses to the contrary.

Question 22

Slayer Act

Answer 22

any person who participates in any way in the felonious and intentional killing of any other person may not acquire any property by will or intestacy or receive any benefit as a result of the death of the decedent.
For GA: murder, felony murder, and voluntary manslaughter.
Doesn’t apply if killing was accidental.

Question 23

Disclaim a gift

Answer 23

Disclaimer must be unqualified and irrevocable, filed before the B has accepted the gift, once the B has received any benefits of the gift then it can’t be renounced.
Must be done: in writing, w/n 9 months of T’s death, if a minor then they have until 21 and then they have 9 months.