Wills/Trusts Flashcards
1
Q
Trusts Checklist generally
A
Creation/Validity/limitations Types of trusts Administration Liability Modification/revocation Termination Remedies
2
Q
Validity and Components of a Will
A
Validity Execution Capacity Conflict of laws Components of a Will Integrated Incorporation by reference Acts of indep. legal significance Codicil Pour- over will
3
Q
Revocation
A
Physical act
Subsequent will
Operation of law
DRR
4
Q
Distribution
A
Classification of gifts Ademption Abatement Exoneration Lapse/antilapse Survivor rights Bars to succession
5
Q
Types of Trusts
A
Express Testamentary Pour over Secret Semi- secret Spendthrift Support Discretionary Charitable Honorary Totten Resulting Constructive
6
Q
Administration
A
Powers of trustee Duties of trustee Account and inform Not to delegate Impartiality Due care Invest Diversify Segregate Loyalty Invest Defend Enforce Liabilities of Trustee Liabilities of 3rd parties Allocation
7
Q
Wills checklist generally
A
Validity Components of a will Revocation Revival Distribution Intestate Distribution Ks relating to wills
