Trusts & Estates. 2 credits

Catalog description

This course examines the law and practice of private wealth management and transmission, typically within the family, and often across generations. Among the topics covered are: (1) the policy basis of inheritance and the changing character of intergenerational wealth transfer; (2) intestate succession; (3) the evolving definitions of “spouse” and “child” and their effect on the interpretation of wills and trust instruments; (4) the execution and revocation of wills; (5) the rise of will substitutes, including revocable trusts, life insurance, and pension and retirement accounts; (6) spousal protection against disinheritance; (7) the creation, modification, and termination of trusts; (8) the fiduciary duties of trustees; (9) the nature of a beneficiary’s interest in trust, the range of the trustee’s discretion, and the rights of a beneficiary’s creditors; and (10) the particular rules applicable to charitable trusts.Offered by Law. May not be repeated for credit.