Trusts and Estates

Catalog description

Laymen generally assume that a decedent will determines how decedent?s property should be distributed at death. That assumption, however, is over-simple. First, most people die without a will. The law of intestate succession determines how property is distributed when decedent leaves no will. Second, clients often draft their wills long before death, and those outdated wills often raise questions at death. For instance, although decedent?s will may leave her diamond necklace to her sister, she may have given the necklace to her daughter during her lifetime. Is the sister entitled to anything at death? Or the sister may have died before decedent. What happens to property left to the sister? Third, many people use trusts rather than wills as the primary instrument for transferring wealth to their beneficiaries. Finally, neither wills nor trusts are effective to pass what is, for many people, their primary asset: money remaining in their retirement accounts at the time of their death. Trusts and Estates explores all of these issues surrounding the transfer of wealth from a decedent to close family members and other beneficiaries. Every client ultimately faces Trusts and Estates issues, and clients often expect their lawyers to be familiar with them. In addition, Trusts and Estates is tested heavily on the bar. TESTED ON THE BAR EXAM.