Wills Trust and Estates : Emanuel Law Outline, Keyed to Dukeminier and Johanson,9780735534407

Wills Trust and Estates : Emanuel Law Outline, Keyed to Dukeminier and Johanson

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ISBN13: 9780735534407
ISBN10: 0735534403
Format: Paperback
Pub. Date: 2003-06-01
Publisher(s): Wolters Kluwer
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Summary

Relied on by generations of law school students, The Emanuel Law Outlines include detailed reviews of critical issues and key topics, short answer questions, Q&A's, and correlation charts referencing leading casebooks.

Table of Contents

Preface xxv
Casebook Correlation Chart xxvii
Capsule Summary C-1
CHAPTER 1 INTRODUCTION TO, WILLS, TRUSTS, AND ESTATES
I. The Power to Transfer Property at Death
1(2)
A. Introduction
1(1)
B. Right vs. privilege
2(1)
C. Public policy arguments
2(1)
D. Shifting patterns
3(1)
II. "Dead Hand" Control
3(2)
A. Definition
3(1)
B. Valid conditions
3(1)
C. Invalid conditions
4(1)
D. Remedy
5(1)
III. Who Takes Decedent's Property: An Overview
5(2)
A. Macro issue
5(1)
B. Macro answer
5(1)
C. Probate vs. nonprobate property
5(1)
D. Nonprobate property
5(1)
E. Nonprobate property takers
6(1)
F. Probate property
6(1)
G. Summary
6(1)
IV. The Probate Process: An Overview
7(3)
A. Probate is the default
7(1)
B. Probate administration
7(1)
C. Terminology
7(1)
D. The probate process
8(1)
E. Personal representative's powers
8(1)
F. Personal representative's duties
9(1)
G. Costs and delays of probate
9(1)
H. Probate and "titled" property
9(1)
I. Avoiding probate
9(1)
V. Estate Planning
10(3)
A. Objectives
10(1)
B. Decedent's intent
10(1)
C. Avoid estate taxes
10(1)
D. Avoid probate
10(1)
E. Professional responsibility
10(3)
Quiz Yourself on INTRODUCTION TO WILLS, TRUSTS, AND ESTATES
13(1)
Exam Tips on INTRODUCTION TO WILLS, TRUSTS, AND ESTATES
14(4)
CHAPTER 2 INTESTACY: THE DEFAULT DISTRIBUTION SCHEME
I. The Intestate Distribution Scheme
18(2)
A. Introduction
18(1)
B. Overview - a typical intestate scheme
18(1)
C. The UPC approach
19(1)
II. Surviving Spouse: Who Qualifies
20(3)
A. Marriage requirement
20(1)
B. Survival requirement
20(3)
III. Surviving Spouse: Calculating Share
23(2)
A. Policy concerns
23(1)
B. Traditional intestate distribution scheme
23(1)
C. UPC approach
24(1)
D. State's spousal share
25(1)
IV. Issue: Calculating Shares
25(6)
A. Property to issue
25(1)
B. Calculating shares - analytical steps
25(2)
C. Per stirpes
27(1)
D. Per capita with representation
28(1)
E. Per capita at each generation
29(1)
F. Miscellaneous rules
30(1)
V. Shares of Ancestors and Remote Collaterals
31(3)
A. Introduction
31(1)
B. Parentelic approach
31(1)
C. Degree of relationship approach
31(2)
D. Degree of relationship with a parentelic tiebreaker approach
33(1)
E. Half-bloods
33(1)
VI. Issue: Who Qualifies
34(8)
A. Issue as takers
34(1)
B. Qualifying as an issue
34(1)
C. Establishing parent-child relationship
34(1)
D. Adoption
35(1)
E. Nontraditional parent-child relationships
36(1)
F. Equitable adoption
37(1)
G. Child born out of wedlock
38(2)
H. Advancements
40(1)
I. Expectancies
41(1)
J. Transfers to minors
42(1)
VII. Bars to Succession
42(4)
A. Introduction
42(1)
B. Homicide
43(1)
C. Abandonment/elder abuse
44(1)
D. Disclaimers
44(2)
Quiz Yourself on INTESTACY: THE DEFAULT DISTRIBUTION SCHEME
46(5)
Exam Tips on INTESTACY: THE DEFAULT DISTRIBUTION SCHEME
51(5)
CHAPTER 3 TESTAMENTARY CAPACITY
I. General Testamentary Capacity
56(1)
A. Introduction
56(1)
B. Requirements
56(1)
II. Insane Delusion
57(3)
A. Definition
57(1)
B. Jurisdictional split
58(1)
C. Causation
59(1)
III. Undue Influence
60(5)
A. Introduction
60(1)
B. Definition
61(1)
C. Traditional rule statement
61(1)
D. Burden shifting approach
61(1)
E. Deterring challenges
62(2)
F. Gifts to attorneys
64(1)
IV. Fraud
65(2)
A. Rule
65(1)
B. Fraud in the inducement
65(1)
C. Fraud in the execution
65(1)
D. Tortious interference with an expectancy
66(1)
Quiz Yourself on TESTAMENTARY CAPACITY
67(4)
Exam Tips on TESTAMENTARY CAPACITY
71(3)
CHAPTER 4 WILLS EXECUTION, REVOCATION, AND SCOPE
I. Executing a Valid Will
74(1)
A. Overview
74(1)
B. Statutory requirements
74(1)
C. Judicial philosophy
74(1)
II. Common Law Approach to Attested Wills
74(6)
A. Introduction
74(1)
B. Statutory requirements
75(1)
C. Judicial approach
75(1)
D. Typical formalities
75(3)
E. Interested witness
78(1)
F. Swapped wills
79(1)
III. Modern Trend Approach to Attested Wills
80(3)
A. Introduction
80(1)
B. UPC requirements
81(1)
C. UPC formalities
81(1)
D. UPC judicial philosophy
81(2)
IV. Holographic Wills
83(2)
A. Distinguishing feature
83(1)
B. Requirements
83(1)
C. Conditional wills
84(1)
V. Revocation
85(7)
A. Revocability of wills
85(1)
B. Revocation by act
85(1)
C. Revocation by writing
85(1)
D. Revocation by presumption
86(2)
E. Dependent relative revocation
88(2)
F. Revival
90(1)
G. Revocation by operation of law - divorce
91(1)
VI. Scope of a Will
92(4)
A. Integration
92(1)
B. Republication by codicil
92(1)
C. Incorporation by reference
93(2)
D. Acts of independent significance
95(1)
E. Temporal perspectives
96(1)
VII. Contracts Concerning Wills
96(4)
A. Introduction
96(1)
B. Writing requirement
97(1)
C. Contracts not to revoke a will
97(3)
Quiz Yourself on WILLS EXECUTION, REVOCATION, AND SCOPE
100(7)
Exam Tips on WILLS EXECUTION, REVOCATION, AND SCOPE
107(7)
CHAPTER 5 WILL SUBSTITUTES: NONPROBATE TRANSFERS
I. Overview to the Will Substitutes
114(1)
A. Introduction
114(1)
B. Controlling law
114(1)
C. Scope
115(1)
II. Contracts with Payable-on-Death Clauses
115(2)
A. Introduction
115(2)
III. Multiple Party Bank Accounts
117(3)
A. Intent vs. paperwork
117(1)
B. Depositor's intent
117(1)
C. Bank's perspective
118(1)
D. Extrinsic evidence
118(1)
E. Criticism
119(1)
F. UPC approach
119(1)
G. Totten Trusts
120(1)
IV. Joint Tenancies
120(1)
A. Introduction
120(1)
B. Probate avoidance
120(1)
C. Devisability
120(1)
D. Creditor's claims
121(1)
V. Inter Vivos Trusts
121(3)
A. Introduction
121(1)
B. Theoretical perspective
121(1)
C. Doctrinal perspective
122(1)
D. Revocability
122(1)
E. Revocation-particular method expressed
122(1)
F. Revocation - no particular method expressed
123(1)
G. Rights of creditors of the settlor
123(1)
VI. Pour-over Wills and Inter Vivos Trusts
124(7)
A. Introduction
124(1)
B. Pour-over wills
125(1)
C. Validity
125(1)
D. Common law
125(2)
E. UTATA
127(2)
F. Revocable trusts
129(2)
VII. Planning for the Possibility of Incapacity
131(2)
A. Introduction
131(1)
B. Asset management
131(1)
C. Health care management
132(1)
Quiz Yourself on WILL SUBSTITUTES: NONPROBATE TRANSFERS
133(4)
Exam Tips on WILL SUBSTITUTES: NONPROBATE TRANSFERS
137(5)
CHAPTER 6 CONSTRUING WILLS
I. Admissibility of Extrinsic Evidence: General Rule
142(4)
A. Scope of chapter
142(1)
B. Admissibility - validity vs. construction
142(1)
C. Common law
142(1)
D. Plain meaning rule
143(1)
E. Patent vs. latent ambiguity
143(2)
F. Modern trend
145(1)
G. Admissibility analysis
145(1)
II. Scrivener's Error
146(1)
A. Rule statement
146(1)
B. Rationale
146(1)
C. Modern trend
147(1)
D. Reforming donative documents
147(1)
III. Changes in the Beneficiary
147(7)
A. Survival requirement
147(1)
B. Lapse
148(1)
C. Anti-lapse statutes
148(2)
D. Failed gifts
150(1)
E. Class gifts
151(3)
IV. Changes in Testator's Property
154(6)
A. Introduction
154(1)
B. Ademption
154(1)
C. Avoidance
155(1)
D. Conservatorship exception
156(1)
E. Outstanding balance doctrine
157(1)
F. Jurisdictional differences
157(1)
G. UPC
157(1)
H. Stocks
158(1)
I. Miscellaneous construction doctrines
158(2)
Quiz Yourself on CONSTRUING WILLS
160(3)
Exam Tips on CONSTRUING WILLS
163(5)
CHAPTER 7 LIMITATIONS ON THE TESTAMENTARY POWER TO TRANSFER
I. Spousal Protection Schemes: An Overview
168(1)
A. Introduction
168(1)
II. Surviving Spouse's Right to Support
168(2)
A. Spousal support
168(2)
III. Surviving Spouse's Right to a Share of the Marital Property
170(2)
A. Overview
170(1)
B. Traditional scenario
170(1)
C. Policy issues
170(1)
D. Overview of the elective share
170(1)
E. Overview of community property
171(1)
F. Temporal differences
171(1)
G. Fundamental differences
171(1)
H. Partnership model
172(1)
IV. The Elective Share Doctrine: Policy Considerations
172(3)
A. Jurisdictional variations
172(1)
B. Recap
172(1)
C. Personal right
173(1)
D. Life estates
173(1)
E. Funding the elective share with life estates
173(1)
F. Medicaid eligibility
174(1)
G. Spousal abandonment
174(1)
H. Malpractice liability
174(1)
I. Same-sex couples
174(1)
V. The Elective Share: Doctrinal Considerations
175(4)
A. Scope of doctrine
175(1)
B. Traditional
175(1)
C. Nonprobate avoidance
175(1)
D. Judicial responses
176(1)
E. Statutory/UPC response
177(2)
F. Waiver
179(1)
VI. Community Property
179(2)
A. Overview
179(1)
B. "Putting a spouse to an election"
180(1)
C. Migrating couples
180(1)
VII. The Omitted Spouse
181(3)
A. Overview
181(1)
B. Traditional scenario
181(1)
C. Omitted spouse presumption
182(1)
D. Rebuttable presumption
182(1)
E. Omitted spouse's share
182(1)
F. UPC
183(1)
G. Elective share vs. omitted spouse
183(1)
H. Malpractice liability
183(1)
I. Modern trend
183(1)
VIII. The Omitted Child
184(3)
A. Overview
184(1)
B. Traditional scenario
184(1)
C. Omitted child presumption
184(1)
D. Rebuttable presumption
184(1)
E. Omitted child's share
184(1)
F. Example
185(1)
G. Overlooked child
185(1)
H. UPC
185(1)
I. Omitted issue of deceased child
186(1)
J. Modern trend
186(1)
Quiz Yourself on LIMITATIONS ON THE TESTAMENTARY POWER TO TRANSFER
187(4)
ExamTips on LIMITATIONS ON THE TESTAMENTARY POWER TO TRANSFER
191(5)
CHAPTER 8 TRUSTS: CREATION, LIFE, AND TERMINATION
I. Conceptual Overview
196(4)
A. Introduction
196(1)
B. Terminology
196(1)
C. Trust purpose
196(1)
D. Trust structure
197(1)
E. Bifurcated gift
197(1)
F. Ongoing gift
197(1)
G. Example - gift vs. trust
198(1)
H. Visualize
198(1)
I. Historical origin
198(1)
J. Trust purposes
198(1)
K. Basic trust rules
198(1)
L. Remedial trusts
199(1)
II. Requirements to Create a Valid Trust
200(9)
A. Overview
200(1)
B. Theoretical comparison
200(1)
C. Observation
200(1)
D. Intent
200(2)
E. Funding
202(3)
F. Ascertainable beneficiaries
205(2)
G. Writing
207(2)
III. Life of Trust: Extent of Beneficiaries' Interests
209(3)
A. Introduction
209(1)
B. Mandatory trust
209(1)
C. Discretionary trust
210(2)
D. Sprinkle/spray trust
212(1)
E. Unitrust
212(1)
F. Perpetual dynasty trust
212(1)
IV. Life of Trust: Creditors' Rights/Spendthrift Clauses
212(4)
A. Introduction
212(1)
B. Creditors' rights generally
212(1)
C. Scope of creditors' rights
213(1)
D. Spendthrift clauses
213(1)
E. Validity
214(1)
F. Exceptions
214(1)
G. Support trusts
215(1)
H. Settlor as beneficiary
215(1)
I. Public health benefits
216(1)
V. Trust Modification and Premature Termination
216(4)
A. Introduction
216(1)
B. Interest in trust
216(1)
C. Settlor and beneficiaries consent
216(1)
D. Trustee and beneficiaries consent
217(1)
E. Beneficiaries consent-trustee objects
217(1)
F. Trust modification
217(2)
G. Trust termination
219(1)
H. Trustee's removal
220(1)
Quiz Yourself on TRUSTS: CREATION, LIFE, AND TERMINATION
220(5)
Exam Tips on TRUSTS: CREATION, LIFE, AND TERMINATION
225(5)
CHAPTER 9 POWERS OF APPOINTMENT: DISCRETIONARY FLEXIBILITY
I. Introduction
230(3)
A. Conceptual overview
230(1)
B. Terminology
231(1)
C. Types of powers
231(1)
D. Creditors' rights
231(2)
II. Creating a Power of Appointment
233(1)
A. Intent
233(1)
B. Donee
233(1)
C. Power to consume
233(1)
III. Releasing a Power of Appointment
234(1)
A. Release
234(1)
B. Testamentary power
234(1)
IV. Exercising a Power of Appointment
235(2)
A. Intent
235(1)
B. Residuary clause
235(1)
C. Limitations
236(1)
V. Attempted Appointment that Fails
237(1)
A. Allocation/marshalling
237(1)
B. Capture
237(1)
VI. Failure to Exercise a Power of Appointment
238(1)
A. Donor's intent
238(1)
B. Takers in default
238(1)
C. No takers in default-general power
238(1)
D. No takers in default - special power
238(1)
Quiz Yourself on POWERS OF APPOINTMENT: DISCRETIONARY FLEXIBILITY
238(3)
Exam Tips on POWERS OF APPOINTMENT: DISCRETIONARY FLEXIBILITY
241(3)
CHAPTER 10 CONSTRUING TRUSTS: FUTURE INTERESTS AND CLASS GIFTS
I. Future Interests
244(3)
A. Trust's equitable interests
244(1)
B. Future interests in the grantor/settlor
244(1)
C. Future interests in a grantee/beneficiary
245(2)
II. Preference for Vested Remainders
247(6)
A. Vested vs. contingent
247(1)
B. Destructibility
247(1)
C. Accelerate to possession
248(1)
D. Transferability
249(1)
E. Preference for vested remainders
249(4)
III. Class Gifts
253(6)
A. Income to class
253(1)
B. Gifts to "surviving children"
254(1)
C. Gifts to "issue/descendants"
254(1)
D. Adopted children
255(1)
E. Gifts to "heirs"
256(1)
F. Class closing rules
257(2)
Quiz Yourself on CONSTRUING TRUSTS: FUTURE INTERESTS AND CLASS GIFTS
259(4)
Exam Tips on CONSTRUING TRUSTS: FUTURE INTERESTS AND CLASS GIFTS
263(3)
CHAPTER 11 THE RULE AGAINST PERPETUITIES
I. Introduction
266(3)
A. Overview
266(1)
B. Rule statement
266(1)
C. Conceptual understanding
266(1)
D. Scope
267(1)
E. Application
267(1)
F. Vesting requirement
267(1)
G. Analytical steps
267(1)
H. Creation of future interest
268(1)
I. Periods of gestation
269(1)
II. Classic Rule against Perpetuities Scenarios
269(1)
A. Introduction
269(1)
B. The fertile octogenarian
269(1)
C. The unborn widow
269(1)
D. The slothful executor
270(1)
III. Class Gifts and the Rule against Perpetuities
270(2)
A. All or nothing
270(1)
B. Subclasses exception
271(1)
C. Specific amount exception
271(1)
IV. Powers of Appointment and the Rule against Perpetuities
272(2)
A. Introduction
272(1)
B. Application
272(1)
C. The power
272(1)
D. Interests created
272(2)
V. The Rule against Perpetuities Saving Clause
274(1)
A. Saving clause
274(1)
B. Validity
274(1)
C. Malpractice liability
274(1)
VI. Reforming the Rule against Perpetuities
274(2)
A. Modern trend
274(1)
B. The cy pres approach
274(1)
C. The wait-and-see approach
274(2)
D. Abolition
276(1)
VII. Rule against Suspending the Power to Alienate
276(1)
A. Introduction
276(1)
B. Suspension
276(1)
C. Jurisdictional split
276(1)
D. Future interests
276(1)
E. Rule statement
276(1)
Quiz Yourself on THE RULE AGAINST PERPETUITIES
277(2)
Exam Tips on THE RULE AGAINST PERPETUITIES
279(4)
CHAPTER 12 CHARITABLE TRUSTS
I. Charitable Purpose
283(2)
A. Rule statement
283(1)
B. Charitable purposes
283(1)
C. Rule against Perpetuities
284(1)
D. Beneficiaries
284(1)
E. Trustees
285(1)
II. Cy Pres
285(1)
A. Overview
285(1)
B. Cy pres rule statement
285(1)
III. Enforcing the Terms of a Charitable Trust
286(1)
A. Overview
286(1)
B. State attorney general
286(1)
C. Individuals with special interest
286(1)
Quiz Yourself on CHARITABLE TRUSTS
287(1)
Exam Tips on CHARITABLE TRUSTS
288(4)
CHAPTER 13 TRUST ADMINISTRATION AND THE TRUSTEE'S DUTIES
I. Trustee's Fiduciary Duties
292(7)
A. Duty of loyalty
292(2)
B. Duty to care for trust property
294(1)
C. Duty not to delegate
295(1)
D. Duty to be impartial
296(1)
E. Duty to disclose
297(1)
F. Duty to account
297(2)
II. Trustee's Powers
299(1)
A. Common law
299(1)
B. Judicial authorization
299(1)
C. Modern trend
299(1)
D. Third parties' liability
299(1)
III. Trust Investments
300(3)
A. Introduction
300(1)
B. Statutory lists
300(1)
C. Model Prudent Man Investment Act
300(1)
D. Uniform Prudent Investor Act
300(3)
E. Allocating Principal and Income
303(1)
IV. Trustee's Liability to Third Parties
303(1)
A. Common law
303(1)
B. Modern trend
304(1)
Quiz Yourself on TRUST ADMINISTRATION AND THE TRUSTEE'S DUTIES
304(2)
Exam Tips on TRUST ADMINISTRATION AND THE TRUSTEE'S DUTIES
306(4)
CHAPTER 14 ESTATE AND GIFT TAXES
I. Overview
310(1)
A. Gift vs. estate taxes
310(1)
II. The Federal Gift Tax Scheme
311(4)
A. Taxable gift
311(2)
B. Gift tax annual exclusion
313(1)
C. Other gift tax exclusions
314(1)
D. Deductions in computing taxable gifts
315(1)
III. The Federal Estate Tax: An Overview
315(1)
A. Overview
315(1)
IV. Calculating the Decedent's Gross Estate
316(4)
A. Decedent's gross estate-an overview
316(1)
B. Property includible in decedent's gross estate
316(4)
V. The Marital Deduction
320(3)
A. Introduction
320(1)
B. Requirements
321(2)
VI. The Generation-Skipping Transfer Tax
323(2)
A. Historical background
323(1)
B. Generation-skipping transfer tax
323(1)
C. Generation-skipping transfers
323(1)
D. Rate
324(1)
E. Property covered
324(1)
F. Exemption
324(1)
G. Exclusions
324(1)
H. Terminology
324(1)
I. Property interests subject to the tax
325(1)
VII. State Death Taxes
325(1)
A. Overview
325(1)
Quiz Yourself on ESTATE AND GIFT TAXES
325(4)
Exam Tips on ESTATE AND GIFT TAXES
329(4)
Table of Cases 333(4)
Index 337

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