Rent 9780766852815 | Administration of Wills, Trusts and Estates, 3E

Summary Table of Contents

If you are interested in wills, trusts, and estates, this easy-to read text provides content and context for a complicated subject area. [The wills of Theodore Roosevelt, John F. Kennedy, Jr., Princess Diana, and George Burns are provided here for your review.] This new edition is enhanced by celebrity features that help you relate to a real-life scenario and step out of legal theory. All legal terms are clearly defined when first presented in the text. State-by-state information is presented clearly with the use of maps, tables and case studie... MORE

Preface

About the Author

xxi

Table of Legal Briefs

xxiii

Part I PLANNING AN ESTATE

... MORE

Where There's a Will ...

(18)

Where There's a Will ...

(4)

There Is Motivation

(1)

There Is Kindness

(1)

There Is Decision Making

(1)

There Is Retribution

(1)

There Is Surprise

(1)

There Is Appreciation

(1)

The Privilege of Having a Will

(1)

Risks in Writing One's Own Will

(2)

Finding the Testator's Intent

(1)

Where There's No Will ...

(8)

There Can Be No Named Beneficiaries

(1)

There Can Be No Named Guardian

(1)

There Can Be No Named Personal Representative

(1)

There Can Be No Testamentary Trust

(6)

Estate Planning

(26)

Purpose of Estate Planning

(1)

The Planning Team

(3)

Gathering Information

(2)

Domicile

(1)

Property

(1)

Beneficiaries

(1)

Objectives

(1)

Record of Personal and Business Affairs

(1)

Estate Planning Tools

(13)

Wills

(1)

Trusts

(4)

Gifts

(1)

Tax Consequences of Gifts

(1)

Powers of Appointment

(1)

Insurance

(1)

Retirement Plans

(3)

Family Limited Partnership

(1)

Postmortem Planning

(6)

A Bundle of Rights

(24)

A Bundle of Rights

(1)

Probate Property

(4)

Real Property

(1)

Personal Property

(3)

Nonprobate Property

(17)

Jointly Owned Property

(4)

Pay-on-Death Accounts

(1)

Uniform Nonprobate Transfer on Death Act

(1)

Community Property

(1)

Life Insurance and IRAs with Named Beneficiary

(1)

Living Trusts

(5)

Life Estates

(5)

Intestate Succession

(34)

Intestacy

(1)

The Passing of Intestate Property

(3)

Simultaneous Death

(1)

Homicide by Heir or Devisee

(1)

Rights of Surviving Spouse

(6)

Rights of Other Heirs

(16)

Consanguinity and Affinity

(1)

Half Blood

(2)

Degrees of Kindred

(3)

Lineal Descendants

(4)

Lineal Ascendants

(3)

Siblings

(1)

Next of Kin

(4)

Escheat

(7)

Part II WILLS

The Last Will and Testament

105

(32)

Wills and Testaments

106

(3)

State Statutory Formalities

109

(12)

Age Requirements

109

(1)

Testamentary Capacity

109

(1)

Necessity of a Writing

110

(1)

The Will's Execution

111

(10)

Changing and Revoking Wills

121

(8)

Changing a Will

121

(3)

Revoking a Will

124

(5)

Joint and Mutual Wills

129

(1)

Agreements to Devise or Bequeath Property

129

(1)

Grounds for Contesting a Will

130

(7)

Structure of a Model Will

137

(36)

Guidelines for Drafting a Will

139

(1)

Introductory Paragraphs

140

(10)

Exordium Clause

140

(5)

Funeral Arrangements

145

(5)

Instructions to Pay Debts

150

(1)

Main Body

150

(8)

Dispositive Provisions

150

(3)

Residuary Clause

153

(2)

Miscellaneous Clauses

155

(3)

Fiduciary and Tax Provisions

158

(5)

Appointment of Fiduciaries

158

(3)

Powers of Fiduciaries

161

(1)

No Surety on Bond

161

(1)

Tax Provision

162

(1)

Ending Paragraphs

163

(3)

Testimonium Clause

163

(1)

Attestation Clause

163

(2)

Self-Proof Clause

165

(1)

Letters of Instruction

166

(7)

Family Protection, Lapses, and Ademption

173

(26)

Protection of Family Members

175

(15)

Family Allowance

175

(2)

Homestead Protection

177

(3)

Exempt Property

180

(1)

Dower and Curtesv

181

(1)

Spouse's Elective Share

182

(5)

Pretermitted Children

187

(3)

Lapsed Legacies and Devises

190

(1)

Ademption

191

(8)

Part III TRUSTS

Trusts

199

(26)

The Trust Arrangement

201

(1)

Parties to a Trust

201

(4)

The Settlor

201

(1)

The Trustee

201

(2)

The Beneficiary

203

(2)

Creation of a Trust

205

(3)

Conveyance in Trust

205

(1)

Declaration of Trust

205

(1)

Trust Formalities

205

(3)

Express Trusts

208

(10)

Testamentary Trusts

209

(5)

Living Trusts

214

(4)

Implied Trusts

218

(7)

Resulting Trusts

218

(1)

Constructive Trusts

219

(6)

Specialized Trusts

225

(26)

Totten Trust

227

(1)

Special-Purpose Trusts

228

(2)

Spendthrift Trusts

228

(1)

Sprinkling Trusts

229

(1)

Marital Deduction Trusts

230

(3)

Distribution Outright

230

(1)

Life Estate with Power of Appointment

230

(1)

Credit-Shelter Trust

231

(1)

QTIP Trust

232

(1)

Charitable Trusts

233

(6)

Cy Pres Doctrine

233

(2)

Rule Against Perpetuities

235

(1)

Charitable Remainder Trusts (CRATS and CRUTS)

236

(3)

Life Insurance Trusts

239

(12)

Part IV ESTATE ADMINISTRATION

Probate Courts and Uniform Laws

251

(20)

Introduction

253

(1)

Probate Jurisdiction

253

(1)

Federal Courts

253

(1)

State Courts

253

(1)

Probate Records

254

(1)

Uniform Laws

255

(16)

Uniform Probate Code

258

(1)

Uniform Simultaneous Death Act

259

(1)

Uniform Transfers to Minors Act

260

(6)

Uniform Anatomical Gifts Act

266

(5)

The Personal Representative

271

(30)

Appointment of Personal Representative

273

(1)

Personal Representative's Bond

273

(7)

Duties of Personal Representative

280

(3)

Titles of Personal Representative

283

(10)

Executor(-trix)

283

(1)

Administrator(-trix)

284

(1)

Administrator with the Will Annexed

284

(2)

Successor Personal Representative

286

(1)

Special Administrator

287

(1)

Public Administrator

287

(2)

Informal Administrator of Small Estates

289

(3)

Executor de Son Tort

292

(1)

Removal of Personal Representative

293

(8)

Probating a Will and Administering an Estate

301

(40)

The Need for Probate

303

(2)

Protection of Decedent

303

(1)

Protection of Heirs

304

(1)

Establishing Title

305

(1)

First Meeting with Client

305

(2)

Confidentiality

306

(1)

Formal Probate Proceedings

307

(26)

Petition for Probate or Administration

307

(3)

Notice to Interested Parties

310

(1)

Proof of Will

310

(3)

Allowance of Bond and Issuance of Letters

313

(3)

The Inventory

316

(8)

Payment of Debts, Taxes, and Expenses

324

(6)

Distribution

330

(1)

Final Account

330

(3)

Informal Probate Proceedings

333

(1)

Ancillary Administration

333

(8)

Estate Taxes

341

(26)

Fiduciary's Tax Obligations

343

(3)

Notifying the Internal Revenue Service

343

(1)

Obtaining Identification Number

343

(3)

Decedent's Final Income Tax Return

346

(2)

Income

347

(1)

Exemptions and Deductions

347

(1)

Fiduciary Income Tax Return

348

(4)

Income

348

(2)

Income in Respect of the Decedent

350

(1)

Exemptions and Deductions

350

(2)

Estate Tax Return

352

(15)

The Gross Estate

353

(3)

The Taxable Estate

356

(2)

Estate Tax Computation

358

(3)

Generation-Skipping Transfer Tax

361

(6)

Final Choices

367

(178)

The Right to Die

369

(1)

Advance Directives

370

(14)

The Living Will

371

(1)

Health Care Proxy Laws

371

(10)

Durable Power of Attorney

381

(2)

Patient Self-Determination Act

383

(1)

Patients Without Advance Directives

384

(1)

Anatomical Gifts

384

(7)

Donation by Will

385

(2)

Donation by Signed Document

387

(4)

Donation by Others

391

(1)

The Decedent's Body

391

(10)

APPENDICES

Appendix A Record of Testator's Personal Information and Business Affairs

401

(7)

Appendix B Sample Last Wills and Testaments

408

(37)

Theodore Roosevelt

408

(1)

George Burns

409

(3)

John F. Kennedy, Jr.

412

(2)

Elvis A. Presley

414

(4)

John Winston Ono Lennon

418

(1)

Richard M. Nixon

419

(7)

Doris Duke

426

(5)

Jacqueline K. Onassis

431

(14)

Appendix C Uniform Simultaneous Death Act

445

(1)

Appendix D Uniform Transfers to Minors Act

446

(6)

Appendix E Uniform Probate Code (Abridged)

452

(93)

Glossary

545

(14)

Index

559

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