How may dispositions be made if Beneficiary predeceases Testator?*
Disposition to Issue/Sibling (Beneficiary) (Anti-Lapse Statute, ALS)
- Disposition passes to Beneficiary’s Issue
- Will made before 31 Aug 1992 => Disposition per stirpes
- Will made after 31 Aug 1992 => Disposition by representation
Class gifts to Issue
- Disposition passes by representation
Disposition to at least 2 residuary beneficiaries
- Disposition passes to other residuary beneficiaries
- UNLESS stated otherwise
- UNLESS ALS applies to lapsed portion
When is property as part of a specific disposition adeemed (NOT part of estate)?*
Property is NO longer part of estate at T’s death
Conveyance/Settlement is NOT wholly consistent with disposition
UNLESS Property changes form (NOT wholly divested)
When is Beneficiary entitled to insurance if property is adeemed?
1) Property is damaged/destroyed before Decedent’s death
2) Insurance company reimburses Executor after Decedent’s death
What is required for Testator to make Advancement (lifetime gift) to Beneficiary?*
1) In writing
2) At same time as gift
3) Signed by Decedent/Acknowledged by Donee (Donor intends gift as advancement)
4) Decedent intends gift to be substituted for Donee’s share of estate
FYI ALS NOT applicable
What is required for disposition to witness-beneficiary to be valid?*
1) 2 other NON-interested attesting Ws able to testify will’s validity
2) Interested W may be called to testify (if he remains competent)
What is interested W entitled to if also intestate distributee?*
‘Lesser’ of his intestate share/disposition
What is required for disclaimer/refusal of gift (renounce interest in Decedent’s estate)?*
1) In writing
2) Signed + Acknowledged before notary public
3) Separate affidavit
- NO consideration received by Disclaiming party
4) Renounced within 9 months of transfer
FYI Disclaimer is NOT revocable
What is the order of Abatement?*
1) Expenses including;
- Funeral expenses
- Debts
- Taxes
- Admin expenses
2) Estate
- Distributive shares in property NOT disposed of by will
- Residuary dispositions
- General dispositions
- Demonstrative dispositions
- Specific dispositions
- Dispositions to Decedent’s spouse (eligible for estate tax marital deduction)
UNLESS Testator provides otherwise
What is the difference between ‘by representation’ and ‘per stirpes’?*
By representation
- Issues take equal share with other survivors ‘at their level’
- Children A, B are predeceased
- Child C is predeceased with grandchildren G1, G2
- Child D is predeceased with grandchild G3
- 1/4 => A
- 1/4 => B
- 1/2 => G1 (1/6), G2 (1/6), G3 (1/6)
Per stirpes
- Issues take Deceased’s Issue’s share
- 1/4 => A
- 1/4 => B
- 1/4 => C => G1 (1/8), G2 (1/8)
- 1/4 => D => G3
Who may be included in dispositions made to ‘Issue’?*
Adopted children
- Issues of Adoptive parents (NOT Biological parents)
- UNLESS stated otherwise
- UNLESS Testator is Issue’s grandparent/descendant of grandparent + Adoptive parent is stepparent/grandparent/descendant of grandparent
Genetic children
Non-marital children
- Father’s paternity required
Posthumous children
- Conceived before Genetic Parent’s death
- Born after Genetic Parent’s death
