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Chapter 51 Wills & Trusts 1

Chapter 51 Wills & Trusts 1

Q ) What are the requirements for a valid will? (Hint: publication is STILL required in new York). 2) What is the legal proceeding for having a will admitted to court called? 3) If there is no valid will at death, what happens to the decedent's property? 4) If there is a valid will, what would happen in the following independent situations? a) a specific bequest is no longer owned by the decedent on date of death? b) a general bequest of $10,000 is made to each of decedent's children but there is only $3,000 in the decedent's estate on date of death? c) Decedent leaves $10,000 to X...but X dies before the decedent? d) What would happen to the rest of a decedent's property if the will did not specifically provide for its disposal? 5) If a testator changes his mind about his estate plan AFTER he formally executes a will is there anything he can do about it? If so how can he change or eliminate the will?

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The age of the individual must not be less then 18 years to understand the meaning of a will (Clarkson, Miller & Cross, 2016). Therefore, to make a will valid, the individual must be at least more than the age of 18 years. This is because if the individual is 18 years of age, the will would become invalid (Clarkson, Miller & Cross, 2016). There must be written evidence of a will to be valid (Clarkson, Miller & Cross, 2016). Even if an individual types a will, it can be valid. However, a will must be handwritten if not typed. There must be the presence of the sign of the testator in all the pages of a particular will (Clarkson, Miller & Cross, 2016). Finally there must be at least two competent witnesses whose signature must be present in the will (Clarkson, Miller & Cross, 2016).