Study Set Content:
1- Flashcard

Different types of bequests

  1. Absolute bequest
  2. Time clause bequest
  3. Conditional bequest
  4. Massing of Estates
  5. Bequests subject to an obligation
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2- Flashcard

Dies cedit

Vesting of rights

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3- Flashcard

Dies venit

Enforcement of rights

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4- Flashcard

Absolute bequests...

Bequests without conditions

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5- Flashcard

Absolute bequest

Vesting of rights take place immediately after death of T

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6- Flashcard

Legatee

Person who receives benefit

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7- Flashcard

Heir

Person who receives residue

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8- Flashcard

Order of payment of beneficieries when it comes to T's debts

  1. Legatee (stronger position)
  2. Heir weaker
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9- Flashcard

If executor has to sell assets to pay of T's debt...

E will first sell the legacy assets (legatee's assets he shouldve gotten) and then inheritance assets( assets heir wouldve gotten)

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10- Flashcard

When E has to sell T's stuff to pay T's creditors..

Will first sell Inheritance stuff, then legacy stuff.

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11- Flashcard

Pre-legacy

Stronger postion and gets preference over all other legacys or heirs

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12- Flashcard

Absolute bequests may still have

Time clauses

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13- Flashcard

When will legacy lapse

  1. Ademption
  2. Legacy is destroyed
  3. T's estate is insolvent
  4. Legatee dies before T, legatee repudiates legacy, legatee is incompetent to inherit.
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14- Flashcard

Conditional revocation

Revocation is dependant on uncertain future event

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15- Flashcard

Where T dies within 3 months of divorce/anulment

T's will is regarded as if former spouse has predeceased him, will not be able to inherit.

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16- Flashcard

S2 B of the Wills Act

If T died within 3 months after divorce/anulment, spouse is regarded as predeceased and does not intherit because T did not have time to make new will. Unless T makes new will which still includes spouse as beneficiary.

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17- Flashcard

Will cannot be revived automatically by

The destruction of the will which initially revoked it.

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18- Flashcard

Will that cannot be found or has physically been destroyed cannot be

Revoked

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19- Flashcard

Requirements for will to revive

  1. Original will must still exist
  2. There must be a valid revival document that complies with the s21a formalities
  3. The document must show an intention to revive
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