Other Intestacy Matters

Slides:



Advertisements
Similar presentations
Bars to succession Heirs may lose their inheritance either because they forfeit their rights through misconduct or because they voluntarily relinquish.
Advertisements

© 2007 ME™ (Your Money Education Resource™) Estate Planning for Financial Planners Chapter 4: The Probate Process.
DEATH OF A RECORD TITLE OWNER: SOLVING ESTATE RELATED TITLE PROBLEMS IN COLORADO Lisa V. Perry, Esq. Julie A. Clark, Esq. Welborn Sullivan Meck & Tooley,
Estate Planning Intestate Succession Intestate Succession Wills Wills Trusts Trusts Class 9.
 1. As to person – total intestacy  2. As to property – partial intestacy.
 Two types of possible protections:  Against being reached to pay the claims of most creditors.  Ability of surviving spouse and minor children to.
 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.
Texas Real Estate Contracts 4 th Edition © 2015 OnCourse Learning.
 More than one person simultaneously has rights to the same interest or estate.
Concurrent Ownership. Tenants in Common Default method under modern law “To A and B” “To A and B as tenants in common” No survivorship rights.
 1. Vis-à-vis Creditors  2. Vis-à-vis Heirs and Beneficiaries.
Ways to Hold Title in Arizona. Overview Married persons Groups of people Lenders or other beneficiaries.
Chapter 2 Property Related to Wills, Trusts, and Estate Administration.
 Only if no heirs.  Note that many states stop looking at a designated generation.
 1. What law applies?  Personal property = intestate’s domicile at death  Real property = situs of real property.
© 2007 Prentice Hall, Business Law, sixth edition, Henry R. Cheeseman Chapter 52: Wills, Trusts, and Living Wills Chapter 52: Wills, Trusts, and.
Business Law B-Personal Law Objective 5.02 Understand Retirement Planning, Death Benefits, Disability and Wills and Estate Planning. BB30 Business Law.
BB30 Business Law 5.02 Summer 2013 Business Law
25-1 Chapter 52 Wills, Trusts, and Estates. Learning Objectives  List and describe the requirements for making a valid will  Describe the different.
Ownership of Property Chapter 23 Tools & Techniques of Financial Planning Copyright 2009, The National Underwriter Company1 Ownership Of Property Outright.
Co-ownership of Real Property Tenancy by the Entirety Joint Tenancy Tenancy in Common.
Wills, Trusts, and Living Wills
Wills, Trusts and Estates Chapter 14. Terminology Decedent – the one who dies Heirs – the persons who take property from the decedent when the decedent.
Chapter 11 Estate Administration. Wills, Trusts, and Estates Administration, 3e Herskowitz 2 © 2011, 2007, 2001 Pearson Higher Education, Upper Saddle.
Chapter Nine Wills, Trusts, and Probate. Introduction to Law, 4 th Edition Hames and Ekern © 2010 Pearson Higher Education, Upper Saddle River, NJ
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.
 Step 1: Is the resulting individual a “child” of the intestate parent?  Step 2: If yes, does that child qualify as an heir?
 Judge signs order  Usually prepared by applicant’s attorney ▪ Some courts supply form ▪ PC § 89 ▪ EC §
26-1 Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.
Review for Midterm Exam Intestacy, Administration, Wills.
 Does source of property impact identity of heirs?
Chapter 24 Wills, Estates, and Trusts
Co-ownership of Real Property Tenancy by the Entirety Joint Tenancy Tenancy in Common.
 Upon felony or treason conviction, all property to government.  Prohibited in Texas.  Constitution Art. I, § 21  EC § (a)
24-1 Legal Consequences of Death 24-2Trusts 1 Chapter 24 CHAPTER 24.
BUSINESS LAW Objective 5.02: Understand Retirement Planning, Death Benefits, Disability and Wills and Estate Planning. BB30 Business Law 5.02Summer 2013.
 1. As to person – total intestacy  2. As to property – partial intestacy.
THE BASICS OF ESTATE PLANNING FOR FARMERS Connie S. Haden.
Review of Session 2 Intestate Succession – Introduction to Wills.
1.  Holds equitable title.  Enforces fiduciary duties against trustee.  Capacity = ability to take and hold property. 2.
Estate Planning. Estate planning n Goals and objectives n Reviewing current plan n Passing property at death n Probate n Estate taxes (federal, state)
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.
Mid-Term Review Session
California Real Estate Principles, 10.1 Edition
Welcome to Fidelity’s Fifteen Minute University
Welcome to Fidelity’s Fifteen Minute University
The Estate Plan and the Purpose and Need for a Will
California Real Estate Principles, 10.1 Edition
MARRIAGE AND REAL ESTATE
Welcome to Trusts & Estates
Tax Considerations in the Administration of Estates
Other Intestacy Matters
Probating a Will and Administering an Estate
Matrimonial Property Law – 2017
Disclaimers. Disclaimers Reasons to Disclaim 1. Onerous Burdens.
Surviving Spouse.
Co-ownership of Real Property
Beneficiary.
Presented by: Daniela Lungu Attorney at Law
Intestate Succession.
KSA : what does it take to be an innocent beneficiary?
Non-Marital Children.
Disclaimers.
TEXAS INTESTATE DISTRIBUTION OF REAL PROPERTY
Unworthy Heirs.
Survival.
BB30 Business Law 5.02 Summer 2013 Business Law
Advancements.
Milestone for US-Japan Estate Planning
Presentation transcript:

Other Intestacy Matters

Escheat – Prop. Code § 71.001 Only if no heirs. Note that many states stop looking at a designated generation to avoid “laughing heirs.”

Intestacy Presumption – Prop. Code § 71.003 Person dead for 7 years and no will probated.

Aliens – EC § 201.060 Irrelevant.

Passage of Title EC §§ 101.001 & 101.003 Immediately from decedent to heir or will beneficiary. But, subject to decedent’s debts. But, PR has superior right to possess. 2017 Legislative developments Uniform Partition of Heirs Property Act Adverse possession against co-heirs

Posthumous Heirs -- EC § 201.056 For an heir to inherit, the heir must either be: Born when the intestate dies, or Be in gestation when the intestate dies. Presumed to be in gestation if born within 300 days of intestate’s death. Thus, after death ART children are not heirs.

Conflict of Laws – Marital Rights [which spouse owned property] Law of spouse’s domicile at time of property acquisition determines whether property is community or separate. “inception of title”

Conflict of Laws – Succession Rights Personal Property = Domicile at death

Conflict of Laws – Succession Rights Real Property = Situs of Property

Conflict of Laws – Estate of Hanau – p. 65 No equitable adjustment upon death of separate property acquired elsewhere that would have been community property if acquired in Texas. Note: Some states do so by recognizing “quasi-community” property.

Tortious Interference with Inheritance Rights Texas Supreme Court in the 2018 case of Archer v. Anderson held, “The tort of intentional interference with inheritance is not recognized in Texas.” The court reasoned that “existing law affords adequate remedies for the wrongs the tort would redress” such as a constructive trust. The court closed the door on this issue which was left open by the court’s opinion in Kinsel v. Lindsey (p. 68).

Negative Will – EC § 251.002 Recognized in Texas.

Designation of Heirs Not allowed in Texas

Locating Heirs