Intestacy rules Study guides, Revision notes & Summaries

PVL2602 ASSIGNMENT 2 SEMESTER 1 & 2 2021 UNIQUE NUMBER: PREVIEW OF QUESTION 1 1. 4 Reference: Prescribed book PG 29 In cases where the common law rules do not apply, section 3bis of the Wills Act lays down that wills have to comply with the formalities of at least one of the following countries’ legal systems to be valid in terms of South African law: In the case of movables, any of the following –  the law of the country where the will was executed  the law of the country whe...

LAW OF SUCCESSION PVL2602 STUDY UNIT 1 INTRODUCTION:  Forms part of Private Law  Comprises legal rules that determine what happens to a person’s estate after his death.  Rules of succession identify the persons entitled to succeed the deceased (the beneficiaries) and the extent of the benefits (inheritance / legacies) they are to receive.  Also includes the rights and duties of the beneficiaries & creditors may have over deceased estate.  Succession takes place in 3 way...

PVL2602- LAW OF SUCESSION SUMMARY NOTES 2021. Introduction to law of succession: When a person dies he or she leaves behind not family/friends but more importantly for our purposes rights and duties that have to be finalized. The law of succession deals with the finalization of the debt and assets the deceased leaves behind. Law of succession – comprises those legal rules or norms which regulate the devolution of a deceased person’s estate upon one or more persons. Thus the law of succ...

1 LAW OF SUCCESSION STUDY UNIT 1 INTRODUCTION:  Forms part of Private Law  Comprises legal rules that determine what happens to a person’s estate after his death.  Rules of succession identify the persons entitled to succeed the deceased (the beneficiaries) and the extent of the benefits (inheritance / legacies) they are to receive.  Also includes the rights and duties of the beneficiaries & creditors may have over deceased estate.  Succession takes place in 3 ways: ...

PVL2602- LAW OF SUCESSION – Summary notes 2020. Introduction to law of succession: When a person dies he or she leaves behind not family/friends but more importantly for our purposes rights and duties that have to be finalized. The law of succession deals with the finalization of the debt and assets the deceased leaves behind. Law of succession – comprises those legal rules or norms which regulate the devolution of a deceased person’s estate upon one or more persons. Thus the law of s...

Detailed notes introducing the key concepts of Wills and Administration of Estates. Includes explanations of the testate/intestacy rules, distribution and the formalities of a will. These are up-to-date notes used for June 2020 LPC exams. Particularly useful for section A of the Wills and Administration of Estates workbook (BPP students)

Estate Plan Scenario Kathi and Darrin Background Kathi and Darrin have been married for 50 years and are both in good health. Kathi and Darrin live in a community property state. They have the following children and grandchildren: Children Age Grandchildren Elizabeth Age 45 4 children James Age 35 3 children Lynn Deceased 1 child Elizabeth, an estate planning attorney, is married, healthy, and happy.Kathi and Darrin adore Elizabeth’s husband, Scott, and their4 children....

Consolidated notes on intestacy rules.

ESTATE PLAN SCENARIO Kathi and Darrin Background Kathi and Darrin have been married for 50 years and are both in good health. Kathi and Darrin live in a community property state. They have the following children and grandchildren: Children Age Grandchildren Elizabeth Age 45 4 children James Age 35 3 children Lynn Deceased 1 child Elizabeth, an estate planning attorney, is married, healthy, and happy.Kathi and Darrin adore Elizabeth’s husband, Scott, and their4 children. James, a high net...

Estate Plan Answer the following questions. Assume the facts given in the fact pattern and that the 2012 estate and gift tax rates and annual exclusion apply to all transfers in the current and previous years. (Numbers are rounded for convenience.) 1. Which of the following transfer mechanisms would be appropriate for the transfer of Fresh Veggies to James and Elizabeth assuming Kathi and Darrin did not want to make an outright gift of the company to them? 1. Private Annuity. 2....