 1. Heirs who would benefit by an intestate distribution.

Slides:



Advertisements
Similar presentations
Estate Planning Presented By: Ben Reale, CFP. What is estate planning? Enables your wishes to be carried out after you are gone Can ensure your interests.
Advertisements

 Statute provides the PR’s oath  PC § 190  EC § (executor)  EC § (administrator)  EC § (temporary administrator)
© 2007 ME™ (Your Money Education Resource™) Estate Planning for Financial Planners Chapter 4: The Probate Process.
Estate Planning Intestate Succession Intestate Succession Wills Wills Trusts Trusts Class 9.
Financial Health Workshop - April 29, What is a will? A legal document of instructions listing the distribution of property, designating beneficiaries.
 In favor of a transferee (not the grantor), and  Does not qualify as a remainder.
Week 6. Recap How to make a will  Intentionalities and formalities Interpreting the will Revoking the will Reviving the will  Dependent Relative Revocation.
PROBATE ADMINISTRATION PROCESS © 2012 The Darren Findling Law Firm, PLC.
 In the past, notice required only to charitable beneficiaries.  Changed in  Authority  PC § 128A  EC § Chapter 308, Subchapter A.
 General Rule =  Four years from the date of Testator’s death.
 Probate Code §§  Estates Code Subtitle K, Chapters
Estates Law and Practice
Wills and Inheritance. Inheritance Law  Inheritance Law (sometimes called Wills and Probate) is concerned with the distribution of a person’s property.
Eileen St. Pierre, Ph.D., CFA, CFP® Personal Finance Specialist Oklahoma State University ESTATE PLANNING.
Chapter 10 The Personal Representative. Wills, Trusts, and Estates Administration, 3e Herskowitz 2 © 2011, 2007, 2001 Pearson Higher Education, Upper.
Brown: Legal Terminology, 5 th ed. © 2008 Pearson Education, Upper Saddle River, NJ All Rights Reserved. Legal Terminology Fifth Edition by Gordon.
ESTATE PLANNING: WHAT YOU NEED TO KNOW. Ella S. Barbery, J.D., LL.M. Roe Cassidy Coates & Price, P.A. (864)
Wills and Inheritance.
Prof. Gerry W. Beyer Fall  1. Title Transfer  Alternatives to Probate ▪ Determination of heirship, if intestate. ▪ Probate will as muniment of.
Intro & Overview Two Basic Methods of Transfer at Death By Will By Statute (No Will) Testate Intestate.
WILLS AND INHERITANCE.
BB30 Business Law 5.02 Summer 2013 Business Law
© Pearson Education, Inc. publishing as Prentice Hall22-1 Chapter 22: Estates and Trusts by Jeanne M. David, Ph.D., Univ. of Detroit Mercy to accompany.
Chapter 1 The Estate Plan and the Purpose and Need for a Will.
Slides by Pamela L. Hall Western Washington University 1 Estate Planning Chapter 17.
Navigating the Financial and Legal Issues of Parkinson‘s Disease Presented at the Parkinson’s Institute July 14, 2010 Nancy Williamson, Esq. Specializing.
 Must be “interested person”  §  Defined in § (7) ▪ Beneficiary ▪ Trustee ▪ Others affected by the trust ▪ Settlor? ▪ Attorney general.
 Must be “interested person”  §  Defined in § (7) ▪ Beneficiary ▪ Trustee ▪ Others affected by the trust ▪ Settlor? ▪ Attorney general.
 A document that is signed during your lifetime that provides for the distribution of your property upon death  Each state has it’s own requirements.
Wills Chapter 8 Tools & Techniques of Estate Planning Copyright 2011, The National Underwriter Company1 What Is a Will? Legal document Provide for disposition.
 The Probate Process.  Probate – the legal process through which a decedent’s assets, that are not automatically transferred at death to their “rightful”
Savings and Investments. Wills  Legal document that specifies how you want your property to be distributed after your death.  Intestate Die without.
Chapter 1 The Purpose and Need for a Will. Wills, Trusts, and Estates Administration, 3e Herskowitz 2 © 2011, 2007, 2001 Pearson Higher Education, Upper.
Chapter 46 Wills and Trusts. 2  What are the basic requirements for executing a will?  How may a will be revoked?  What is the difference between a.
Chapter 38 Insurance, Wills and Trusts. 2  What is an insurable interest? When must an insurable interest exist?  Is an insurance broker the agent of.
Chapter 5 Wills: Validation Requirements, Modification, Revocation, and Contests.
Islamic Will Writing Islamic Will Writing (Wasiat)
 Judge signs order  Usually prepared by applicant’s attorney ▪ Some courts supply form ▪ PC § 89 ▪ EC §
Review for Midterm Exam Intestacy, Administration, Wills.
All that a person owns, less all that person’s debts.
England and Wales Last wills Testator dies on after 1 January 1983 Monika Drela.
Upon a person’s demise … Distribute Assets to Beneficiaries TESTATE (With A Will) Apply For Grant of Probate Apply For Letter Of Administration INTESTATE.
 1. Heirs who would benefit by an intestate distribution.
Josh Copeland Carlson & Copeland, PLLC September 20, 2011.
Life for those after death..  A legal written instructions for the distribution of property and possessions after death. ◦ For any one with assets it.
 In favor of a transferee (not the grantor), and  Does not qualify as a remainder.
Brown: Legal Terminology, 5 th ed. © 2008 Pearson Education, Upper Saddle River, NJ All Rights Reserved. Legal Terminology Fifth Edition by Gordon.
Canadian Islamic Wills
No Assignments this week!! Just the Discussion board!! Yay – no Homework!!!!
William T. Catterton, P.C. Attorney at Law Law Offices of William T. Catterton Wells Fargo Bank Building 6707 Brentwood Stair Road Suite 210 Fort Worth,
Personal & Estate Planning, Guardianship, and Probate Michael J. Longyear Reed Longyear Malnati & Ahrens PLLC
Wills and Trusts. Estate Planning  Estate Planning and Probate involves planning for the distribution of property after death and the mechanics of how.
Frank & Kraft, Attorneys at Estate Planning Essentials Essential Components of a Basic Estate.
Claims of Undue Influence Differences Between Filing In Ch. 59 and Ch. 60.
Unit 7: Wills, Estates, and Trusts. Wills Will provides for a Testamentary disposition of property. –A will is the final declaration of how a person desires.
TEN GOOD REASONS NOT TO AVOID PROBATE Presented by: Andrew T. Morehead, CFP®, ATP, ECS NSA Annual Meeting Kansas City, Missouri August 28-30, 2008.
Probate and Estate Administration Chapter 9. Probate or Estate Administration Probate –The act or process of proving the validity of a will Estate Administration.
The Estate Plan and the Purpose and Need for a Will
Paul W. Taylor & Kathleen McDormand BORDEN LADNER GERVAIS LLP
Trust Enforcement Procedural Matters
Informal Probate Administration
Probating a Will and Administering an Estate
The Participants and the Proper Court
ESTATE PLANNING MY LIFE MARRIED.
Personal Representatives: Types, Pre-Probate Duties, and Appointment
A little ditty….
Wills and Trusts Chapter 50
Chapter 22: Estates and Trusts
BB30 Business Law 5.02 Summer 2013 Business Law
Interpretation and Construction
Presentation transcript:

 1. Heirs who would benefit by an intestate distribution.

 2. Beneficiary of prior will who would take if new will is invalid.

 Interested person under § 3(r).

 Beneficiaries who are:  Institutions of higher education  Charities

 Contestant is entitled to a jury trial.

 1. Non-fraud grounds  2 years after will admitted to probate

 2. Forgery or fraud grounds  2 years after discovery

 3. Tolling  Incompetent  Minors

 Court may appoint temporary administrator to handle estate while will contest is pending.

 Should you contest will before or after its admission to probate? Why?