For a decedent who has left a last will and testament, which of the following correctly state issues that may have to be proved in the probate proceeding? Whether the will was validly executed Whether the will disposes of all probate property Whether the decedent's gross estate exceeds the applicable exclusion amount Whether any trusts described in the will are entitled to the marital or charitable deduction
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For a decedent who has left a last will and testament, which of the following correctly state issues that may have to be proved in the probate proceeding?
- Whether the will was validly executed
- Whether the will disposes of all probate property
- Whether the decedent's gross estate exceeds the applicable exclusion amount
- Whether any trusts described in the will are entitled to the marital or charitable deduction
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- A mutual will cannot be unilaterally revoked after one of the parties has died. true or falsewhat does it means to be a “remainderman” of a life estate interest. Can this interest be sold?A) A guardianship and/or conservatorship proceeding will be necessary for the minor children. B) Dick's estate will require an ancillary probate proceeding. C) The wills are irrelevant since they live in a community property state. D) Their estates may be subject to their state intestacy statutes to appoint a PR in the event of simultaneous death.
- Testator gives property to Tim in trust for Barney’s benefit, providing that Barney cannot anticipate the income by assignment or pledge. Barney borrows money from Linda, assigning his future income under the trust for a stated period. Can Linda obtain any judicial relief to prevent Barney from collecting this income? Why or why not?On 10 January 2020 David executed a will in terms of which he bequeaths the residue of his estate to his wife (Nicky) and should she predecease him the residue of his estate is to devolve upon his son Grant. On 1 July 2020 David and Nicky got divorced. David died on 15 October 2020 without having revoked the stated will. He is survived by his wife (Nicky) and his son (Grant). David's estate will devolve as follows: A). The residue will remain in his estate. B). His estate will be divided equally between his wife (Nicky) and his son (Grant). C). His son Grant will inherit the residue of his estate in terms of his will. D). His wife (Nicky) will inherit the residue of the estate in terms of his will.A married couple with two children owns a property that they have homesteaded. If the wife dies, what estate will the husband have in the property? a life estate, with their children as remaindermen a fee simple estate No estate: the children will inherit the house fee simple. It depends on what was in the wife's witt.
- Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?Grace Peterson, a never-married and childless woman, then age seventy-four, asked Chester Gustafson, a Minneapolis attorney, to draw a will for her. Gustafson, who had also probated Peterson’s sister’s estate, drew this first will and six subsequent wills and codicils free of charge because he claimed that she had no money to pay for his services. Over the five-year period during which Gustafson redrew Peterson’s will, an increasing amount of property was devised to Gustafson’s children, until, finally, the seventh will so devised Peterson’s entire estate. Peterson, however, hardly knew the children except from several chance encounters ten years before. She died without ever having changed the seventh will, and Gustafson, who was named as executor, now seeks to have the will admitted to probate. Discuss whether the seventh will should be probated.Benjamin is a widower who has two married children, Edward and Patricia. Patricia has two children, Perry and Paul. Edward has no children. Benjamin dies, and his typewritten will leaves all his property equally to his children, Edward and Patricia, and provides that should a child predecease him, the grandchildren are to take per stirpes. The will was witnessed by Patricia and by Benjamin's lawyer, and it was signed by Benjamin in their presence. Patricia has predeceased Benjamin. Edward claims the will is invalid. Is the will valid or invalid? What would the distribution of Benjamin's estate be if the will was invalid? What would it be if it was valid?
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