LEB 323 Lecture 20: LEB Exam 3 Notes
15 Feb 2017
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Today: intestacy laws, types of wills, executors, types of gifts. Tell you what to do if you die without a will. If you do not like what these laws would say, leave behind a will. More than half the people die without a will. It tells you what you do with your estate/assets. States have different ideas on what an average person would probably want. Two models (diablo example) 120k 4 kids of the guy who died and then like 6 grandkids. Per stirpes: goes to older person in each branch of the family. So not necessarily given to the younger people in their branch. Per capita: (cid:498)level (cid:883)(cid:499) is the exactly the same. You take the amount that grandkids got and you redistribute it across grandkids evenly. Two basic kinds of wills: holographic, old fashioned handwritten wills, written in your own handwriting entirely. The person in charged of handling your estate.
