Show:
Execute*
Trust Me*
It's Family (maybe)
Misc.*
Will she or won't she?*
100
Define difference between Probate and Estate Administration
Probate - the act or process of proving the validity of the will Estate Administration - Procedures and duties of the Executor, includes the collection and inventory of assets, payment of approved claims and taxes, and final distribution of the assets to the beneficiary and heirs
100
A fiduciary relationship in which property is transferred to one person for the benefit of another person.
What is a trust?
100
Person most closely related by blood to decedent
What is next of kin
100
Property that passes directly from the decedent to another person without court authorization by operation of law.
What are nonprobate assets? For example..?
100
The opening clause of every will that identifies the testator, gives testator's domicile, declares testamentary capacity and identifies the document as the testator's last will and testament.
The Exordium clause
200
The order of distribution when paying claims of an estate
What is administrative claims, expense of last illness,& funeral Distribute family allowances or exempt property to spouse and/or minor children Pay approved/allowed creditor claims Transfer of assets
200
Corpus (res), settlor, purpose, beneficiary, trustee
What is needed to have a valid trust?
200
Persons related to a decedent by marriage instead of blood (spouses excepted) are related by _________.
What is affinity
200
Under English law, the right of a widow to a one-third life estate in all real property owned by the husband during the marriage
What is dower?
200
A child inadvertently left out of a parent's will
What is a pretermitted heir?
300
Ancillary administration
What is administration of an estate in a state other than the decedent's domicile where the decedent owns property
300
This category of trust arises from an intentional act and the other does not.
1.Express – arise from intentional act two types Private & Charitable 2.Implied – created to prevent fraud or unjust enrichment two types – Constructive trust and resulting trust
300
Requests assistance with managing their affairs due to infirmity so asks Probate Court to appoint a __________
What is a Conservator?
300
Intestate succession in NH goes back _____ degrees
What is four?
300
A decedent's property passing to the state.
What is escheat?
400
An estate is entitled to this when there is a surviving spouse and if the decedent leaves all or a portion of the estate to the surviving spouse
What is a marital deduction?
400
A document setting aside money and expressing a wish/desire for the recipient to use it for a particular purpose
What is a Precatory trust?
400
Their affairs are managed by a Guardian due to physical or mental incapacity
What is a ward?
400
Occurs when a person who is in a position of trust with the testator uses that close relationship to convince the testator to prepare a will in a particular manner.
What is undue influence?
400
Clause that comes right before the witnesses' signature
What is the attestation clause?
500
Necessary to probate ( "prove") a will
What are: witnesses present at time of will signing; Testator declaration of intent to sign will; Testator did sign will; Testator over the age of 18
500
Trust in which a percentage – not less than five percent of the value of the property is determined annually and given to a beneficiary provided the rust has earned income, with the entire remainder going to charity.
Charitable Remainder uni-trust
500
What a petitioner needs to demonstrate to have a person placed under a guardianship - and what is the level of proof that has to be met
What is the ward is unable to provide for their basic needs of food, shelter, clothing, health care and is unable to manage their own financial affairs. That ward is incapable of making an informed choice not to provide for these needs and must also prove that the ward may come to substantial harm as a result of this incapacity. (must prove these things beyond a reasonable doubt)
500
Disposing of something left in a will before death, with the effect that the person it was left to does not get it.( But if they do get it before death what is it?)
What is ademption and ademption by satisfation
500
Clause in a will that disposes of all items not specifically given away (the leftovers). When is it used?
1. When a gift is void (for example in some states, when a gift is given to a witness to the will) 2. When a gift is revoked (for example when it is crossed out by the testator) 3. When a gift lapses (for example when the legatee or devisee dies before the testator, unless an anti-lapse statute is available. If no residuary clause the failed gift would pass according to the laws of intestacy.