Intro & Overview Two Basic Methods of Transfer at Death By Will By Statute (No Will) Testate Intestate.

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Presentation transcript:

Intro & Overview Two Basic Methods of Transfer at Death By Will By Statute (No Will) Testate Intestate

Requirements for Validity of Wills Testamentary Intent (takes effect at death)

Testamentary Capacity Testator Must Know: Kind & Character of His Property Natural Objects of His Bounty Effect of this Act of Making a Will

Testator Must Have Ability to Form a Plan for Disposition of Her Estate

Formal Execution Requirements 2 Witnesses if Typewritten T’s Signature Competence of Witnesses Witnesses Sign in T’s Presence No Publication Required

Holographic Will **Wholly in T’s Handwriting**

Instrument Modifying or Adding to an Existing Will

Probate of a Will --Court Validates the Will Administration of Estate --Representative 1.Collects Assets 2.Pays Debts 3.Distributes Remainder

Executor: Named in the Will Administrator: Appointed by the Court

In Texas -Independent Executorship Independent Executor acts free of court control

Dependent Administrator Acts Under Court Supervision