Transfers Upon Death

Transfers Upon Death

Basic Premise

Life is 100% fatal.

History of At-Death Property Disposition1. Physical Strength and/or

Finding

History of At-Death Property Disposition2. Bury with Decedent

History of At-Death Property Disposition3. Intestate Succession

History of At-Death Property Disposition4. Wills

History of At-Death Property Disposition5. Will Substitutes

Intestate Succession

Common Law Split:

Crown = real property

Church = personal property

Intestate Succession -- TerminologyDescent = succession to real

property

Intestate Succession -- TerminologyDistribution = succession to

personal property

Intestate Succession -- TerminologyHeir = person who receives

property from an intestate decedent

Testate Succession -- TerminologyAt common law –

Will = real property

Testament = personal property

Testate Succession -- TerminologyDevise = gift of real property

Testate Succession -- TerminologyBequest = gift of personal

property

Testate Succession -- TerminologyLegacy – gift of money

X

Testate Succession -- TerminologyBeneficiary = any recipient of

property (any type)

Testate Succession -- TerminologyCodicil = amendment to an

existing will

Requirements of a Valid Will1. Legal Capacity

Requirements of a Valid Will1. Legal Capacity

2. Testamentary Capacity (“sound mind”)

Requirements of a Valid Will1. Legal Capacity

2. Testamentary Capacity

3. Testamentary Intent

Requirements of a Valid Will 1. Legal Capacity

2. Testamentary Capacity

3. Testamentary Intent

4. Formalities Attested will (written, signed, witnessed) Holographic will (handwritten, signed) Nuncupative will (oral)