Unformatted text preview: o Life insurance, retirement plans, IRA’s o Will and Intestacy rules do not matter-TRUST trust language-POSSESSION personal property o Will or Intestacy Intestacy-Spouse w/o children…. . all of estate o w/ children…. 1 st $150,000 +1/2 of probate estate-Children o Balance of estate divided equally-Grandchildren o Take the share their parent would have taken – equal shares “By representation” Documents: -DPOA-Will o Intestacy: statutory pattern if no Will o Testacy: with a will Give estate to whoever…. Federal Estate Tax...
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This note was uploaded on 12/01/2011 for the course HDFS 238 taught by Professor Boyce during the Fall '10 term at Michigan State University.
- Fall '10