Leslie Sp06-Trusts & Estates - Class Notes

Leslie Sp06-Trusts & Estates - Class Notes - Trusts...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Trusts & Estates - Class Notes www.swapnotes.com Page 1 of 54 Professor Melanie Leslie Spring 2006 INTRO 3 a. Slayer Rule-if you kill s/o, you cant get their $ b/c you cant profit from your own crime. 3 PROBATE AND NON-PROBATE TRANSFERS 3 A. WHY IS PROBATE NECESSARY? 3 B. PROBATE V NON-PROBATE ASSETS 3 C. WHY DO PEOPLE TRY TO AVOID PROBATE? 3 D. CHART-SUMMARY OF THE PROBATE PROCESS 3 E. GIFTS 3 F. JOINT INTERESTS W/ RIGHT OF SURVIVORSHIP 3 CHAPTER 2-INTESTATE SUCCESSION 3 B. WHY INTESTACY STATUTES? 3 C. SHARE OF SPOUSE 3 E. THE SHARE OF LEGAL DESCENDANTS: DISTRIBUTING AMONG DIFFERENT GENERATIONS 3 F. DISTRIBUTION TO OTHER RELATIVES WHEN NO SPOUSE/ISSUE/PARENTS 3 SECTION V-DEFINING THE MODERN FAMILY: HALFBLOODS, ADOPTEES, AND NON-MARITAL CHILDREN 3 C. ADOPTION 3 D. SIMULTANEOUS DEATHS 3 E. DISCLAIMERS 3 F. ADVANCEMENTS 3 WILLS 3 A. WILL EXECUTION 3 c. Problems with the will/Lawyers Mistakes: 3 d. Will Formalities-when the attorneys screw them up 3 B. CONTESTING THE WILL-WAYS TO ATTACK A WILL: 3 b. Testamentary Capacity 3 vi. Insane Delusion 3 c. Undue Influence 3 C. PREPARING FOR THE CONTEST: THE LAWYERS ROLE 3 D. GAY & LESBIAN TESTATORS 3 E. WHAT CONSTITUTES THE WILL? 3 a. Integration and Incorporation by Reference 3 F. CONSTRUCTION PROBLEMS CREATED BY THE TIME GAP B/T WILL EXECUTION AND DEATH 3 iv. Specific Devise of Stocks 3 v. Class Gifts 3 G. CONSTRUCTION PROBLEMS 3 a. Mistake 3 v. Scriveners Errors 3 H. REVOCATION OF WILLS 3 b. Presumption of Revocation 3 c. Partial Revocation by Physical Act 3 d. Revocation by Subsequent Instruments 3 e. Revocation by Operation of Law 3 f. Revival of Wills 3 TRUSTS 3 A. INTRODUCTION 3 B. HOW TO CREATE A TRUST 3 C. AVOIDING PROBATE 3 a. Avoiding Probate w/o the use of trusts 3 b. Avoiding Probate using Revocable Inter Vivos Trusts 3 c. Pour Over Wills 3 d. Marketing Revocable Trusts 3 D. PROVIDING FOR MINOR CHILDREN 3 E. BUILDING FLEXIBILITY INTO THE ESTATE PLAN: SUPPORT TRUSTS AND DISCRETIONARY TRUSTS 3 1. Support Trusts 3 Trusts & Estates - Class Notes www.swapnotes.com Page 2 of 54 Professor Melanie Leslie Spring 2006 2. Hybrid 3 3. Discretionary Trust 3 F. SPENDTHRIFT TRUSTS-CREDITORS OF THE BENEFICIARY 3 c. Public Policy Exceptions to Spendthrift Trusts 3 d. Creditors Rights in Self-Settled Trusts 3 G. PLANNING FOR INCAPACITY 3 b. Medicaid Asset Planning 3 H. TRUST REMAINDER INTERESTS 3 I. CLASS GIFTS 3 J. POWERS OF APPOINTMENT 3 d. Creation and Exercise of Power 3 e. Scope of the Power 3 1. Allocation of Assets Doctrine-when have a problem with allocation of special power. Either appointment is invalid b/c appointed to a non object,or he combines appointed property with residuary estate creating a trust that violates RAP. 3 2. Capture Doctrine- when donee manifests intent to appoint the property to his own estate, distribute it according to his will. 3 f. Creditors Rights in Appointive Property 3 ESTATE TAXATION 3 A. HOW TO COMPUTE ESTATE TAXES ? 3 a. Basic Concepts of the Statute 3 b. Process:...
View Full Document

Page1 / 54

Leslie Sp06-Trusts & Estates - Class Notes - Trusts...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online