Will
Minimum age to execute a Will
What is 18?
What is age 18?
A common law Power of Attorney terminates on the death of the Principal or this.
What is the incapacity of the Principal?
The Michigan Land Title Standard providing guidance for a "Lady Bird" Deed.
What is Michigan Land Title Standard 9.3?
A trust contained in a Will.
What is a Testamentary Trust?
(1) The individual has the ability to understand that he or she is providing for the disposition of his or her property after death; (2) the individual has the ability to know the nature and extend of his or her property; (3) the individual knows the natural objects of his or her bounty; (4) the individual has the ability to understand in a reasonable manner the general nature and effect of his or her act in signing the will.
What is sufficient mental capacity?
The individual authorized to exercise powers concerning care, custody, and medical or mental health treatment decisions.
Who is a Patient Advocate?
A Durable Power of Attorney is not affected by the Principal's subsequent disability or incapacity, or by this.
What is the lapse of time?
A power, the permissible appointees of which include the donee, his or her estate, his or her creditors, or the creditors of his or her estate.
What is a General Power of Appointment?
A standard relating to an individual's health, education, support or maintenance.
What is an Ascertainable Standard?
A Will that is dated, signed by the testator, and the document's material portions are in the testator's handwriting.
What is a Holographic Will?
Number of witnesses required to have a valid Power of Attorney for Healthcare.
What is 2?
The individual designated by the Principal to exercise the authority conferred in the Durable Power of Attorney for Finances.
What is the Attorney-in-Fact?
A transfer to a person designated in the creating instrument as the transferee of property if a power is not exercised or is released.
What is a Gift in Default?
A provision/term of a trust that restrains either the voluntary or involuntary transfer of a trust beneficiary's interest.
What is a Spendthrift Provision?
A Will that is simultaneously executed by the testator and two witnesses under oath in which the testator and witness declare the document to be the testator's will, that the testator is at least age 18, that the testator has sufficient mental capacity, that the testator is under no constraint or undue influence, and that the testator has voluntarily signed the will.
What is a Self-proved Will?
The document that must be signed by the Patient Advocate before he or she can exercise any powers designated in the Power of Attorney for Healthcare.
What is an Acceptance of the Patient Advocate Designation?
An Attorney-in-Fact can receive reasonable compensation for services if
What is it is provided for in the Durable Power of Attorney for Finances?
Term used for the sellor/transferor of real property.
What is Grantor?
A person, including a testator or a trustee, who creates a trust.
What is a Settlor or Grantor?
A testamentary instrument that expressly excludes or limits the right of an individual to succeed to the decedent's property that is passing by intestate succession.
What is a Will?
The patient's attending physician and another physician or licensed psychologist shall determine upon examination of the patient whether the patient is unable to participate in medical treatment decisions and shall do this.
What is put the determination in writing?
Before exercising authority under a Durable Power of Attorney for Finances an Attorney-in-Fact shall execute this document.
The form filed with the local property assessor office when real property is transferred.
What is a Property Transfer Affidavit?
Unless the terms of a trust expressly provide that the trust is irrevocable, the settlor may do this.
What is revoke or amend the trust?