wills and trusts
DESCRIPTION
Prof. Gerry W. Beyer Fall 2013. Wills and Trusts. Skull for Hamlet Productions. Body for Human Barbecue. 55 Letter English Alphabet. Cremains in Breast Implants. Doctor to impale with stake. Smoke 5 cigarettes per day. Money to woman birthing most children in 10 years. Basic Premise. - PowerPoint PPT PresentationTRANSCRIPT
Wills and TrustsProf. Gerry W. Beyer
Fall 2013
Skull for Hamlet Productions
Body for Human Barbecue
55 Letter English Alphabet
Cremains in Breast Implants
Doctor to impale with stake
Smoke 5 cigarettes per day
Money to woman birthing most children in 10 years
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 Terminology
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
Intestate Succession -- Terminology
Intestate Succession -- TerminologyConsanguinity = blood
Affinity = marriage
Testate Succession Terminology
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