Wendy's W&T Outline - Kesselman

Wendy's W&T Outline - Kesselman - WENDY’S WILLS &...

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Unformatted text preview: WENDY’S WILLS & TRUSTS page 1 of 8 INTESTATE SUCCESSION WHO TAKES? FIRST, DECIDE WHAT THE SS TAKES , THEN DISTRIBUTE THE REMAINDER ; WHAT THE SS TAKES DEPENDS ON WHAT OTHER RELATIVES EXIST . S URVIVING S POUSE §6400 - Property not transferred by will is subject to transfer by intestate succession. §6401 - Division of intestate property (a) COMMUNITY PROPERTY SS takes 100% of community property - CA REQUIRES FORMAL MARRIAGE (not domestic partners) (c) SEPARATE PROPERTY- property spouse inherits, is gifted during marriage, or brings into the marriage): REGISTERED DOMESTIC PARTNERS OK SS takes 100% if NO surviving bloodline: no issue AND no parent, sibling or their issue SS takes 1/2 if one bloodline: [child or their issue] or [no issue but parent or their issue] SS takes 1/3 if two surviving bloodlines: [>1 child] or [child and issue of deceased child] or [issue of 2 deceased children] D ESCENDANTS /I SSUE §6402 Division of intestate property NOT taken by SS (entire if no SS; 1/2 or 2/3 of the separate property is SS) (a) D’s issue take equally, or per §240 if unequal degree of kinship; (b) if no issue, to parent(s); (c) if no parents, to issue of parents(s) §240 Representation- split evenly at nearest generation w/ issue living; issue of those deceased-at-that-generation divide the ancestor’s share. §220 S IMULTANEOUS D EATH NOT LIMITED TO INTESTATE- If survivorship is undeterminable, it is presumed and the property of each will be distributed among that person’s heirs--whether intestate or by wills.- A couple’s wills may conflict §6403 R EQUIREMENT OF S URVIVAL LIMITED TO INTESTATE Each heir must survive D by 120 hours (5 days) to take through intestate succession §6407 R ELATIVES IN G ESTATION LIMITED TO INTESTATE The unborn must survive D by 120 hours (5 days)--which includes in utero--to take a share, but must be born alive. ALTERING INTESTATE SUCCESSION D ISCLAIMERS §275 Beneficiary may disclaim his share §279 Disclaimers have “safe harbor” of 9 months from D’s death to file disclaimer §282 Disclaimer treated as if predeceased D unless otherwise provided in the instrument §282b2 But can’t disclaim to enhance another’s share (50-50 split of 1/2+1/4+1/4 → 1/3 each) A DVANCEMENTS AND R ELATED D OCTRINES LIMITED TO INTESTATE (similar to trusts’ Ademption by Satisfaction) §6409 Property given to heir during life is subtracted from heir’s share IF there’s a writing: contemporaneous by D or heir acknowledges WHO IS “ISSUE” WHEN THERE’S A CHILD ADOPTED OR BORN OOW? ALSO APPLIES TO CLASS RULES IN INSTRUMENTS (see below ) A DOPTION / A DOPTED C HILDREN §6450b Parent-Child relationship is required to inherit INTESTATE and exists between: (a) NC/OOW and NPs; or (b) AC and APs §6451a Infant adoption severs P/C relationship; BUT AC can inherit from/through NP/NF IF : AC and NP lived as P/C or NPs were married-or-cohabitating at conception Adoption by stepparent or replacement parent §6451b...
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This note was uploaded on 10/24/2010 for the course PR 123 taught by Professor Gramer during the Spring '06 term at Loyola Law School Los Angeles.

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Wendy's W&T Outline - Kesselman - WENDY’S WILLS &...

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