Wills Essay Flashcards
Testators Issues (intent)
1) Genreal Capacity at time of execution
2) Insane Delusion
3) Fraud
4) Undue Influence
5) Mistake
Will
Remedies
1) Specific Performance
2) Breach of Contract
3) Constructive Trust
Anti-Lapse
When the will Beneficiary dies during the testators lifetime the gift will typically lapse.
Exception: Nevada Anti-Lapse Statute
* Saves the gift when the predeceasing beneficiary is blood relative who leaves issue who surviving the testator
Testamentary Capacity
Which in NV is being over 18 and of sound mind.
- testamentary capacity requires
1) the Testator understand the nature of her act,2) the nature and extent of her property who will receive the bounty and
3) the practical effect of the will.
Will
Incorporation
A will which refers to a clearly identified writing, already in existence, can incorporate the terms of that writing into will even though the incorporated writing is not in compliance w/ the statute of will.
Personal Property Exception:
* in Nevada, the testator may refer to a seperate written list that is not yet in existence at the time the will is executed that disposes of tangible personal property not otherwise disposed of in the will.
- Writing Must: Title, signed, dated, describe prop w/ reasonable certain, list must refer to the will.
Essay Will
Oral Agreement
Nevada recognizes oral wills so long as the amount is under $1,000 and there is a witness.
Essay Wills
Ademption
Generally, under the doctrine of Ademption, property not in testators estate at the time of his death is ademed and the beneficiary takes nothing.
Specific Devies
* Ademption only applies to specific devises.
Will Contract
A person may enter into a contract to make a will or devise, or not to revoke a will or devise, or to divise intestate by:
1) Provision of a will stating the material provisions of the contract.
2) Express reference in a will to a contract and extrinsic evidence proving the term of the contract, and/or
3) a writing signed by decendent evidence by the contract
