trusts and estates

Modified per stirpes is a system of determining the descendants that will take from individuals who have died intestate. Any part of the intestate estate not passing to the decedent’s surviving spouse is passed to the descendants of the decedent. In the modified per stirpes system, the estate is divided into primary shares at the generation nearest to the decedent that contains a

Pure per stirpes is a system of determining the descendants of individuals who have died intestate. Any part of the intestate estate not passing to the decedent’s surviving spouse is passed to the descendants of the decedent. In the pure per stirpes system, the estate is divided into primary shares at the generation nearest to the decedent (the decedent’s children). If

A person may revoke their will by act so that it is no longer valid. The person must intend to revoke the will and also act to revoke the will.  Acceptable acts of revocation include burning, tearing, cancelling, obliterating or destroying the will.

In trusts and estates law, a purchase money resulting trust is used in domestic partnership when the domestic property is purchased by both partners, but the title is only in the name of one partner. If the title-holder dies intestate, the purchase money resulting trust is awarded to the non-title holding partner on restitutionary grounds, provided the non-title holding partner has given consideration for the property.

The parentelic system is a system used by some states to determine who is an heir of a deceased person who has died intestate. The assets are first passed to the spouse, descendants and parents of the decedent, then to siblings, nieces and nephews of the decedent. To find further

Wills must be attested (witnessed) in order to be valid.  The witness must acknowledge the will.  Most states require more than one witness.

Wills must be in writing in order to be valid, but not necessarily paper. The writing requirement is met long as the will is written in some more or less permanent medium. 

A multiple party account is an account held in any sort of financial intermediary, such as a bank, thrift, or brokerage firm.  The account is registered in the names of more than one person.

A death beneficiary is the person who is conferred a benefit upon the death of another, usually through a will or trust.