Sec. 37B. ASSIGNMENT OF PROPERTY RECEIVED FROM A DECEDENT
(a) A person entitled to receive property or an interest in property from a decedent under a will, by inheritance, or as a beneficiary under a life insurance contract, and who does not disclaim the property under Section 37A of this code, may assign the property or interest in property to __________.
a) the assigned designate.
b) a surviving spouse.
c) any person.
d) a charitable organization.
c) any person.
Sec. 37B. ASSIGNMENT OF PROPERTY RECEIVED FROM A DECEDENT
(d) An assignment under this section is a ____ to the assignee and is not a disclaimer or renunciation under Section 37A of this code.
C) gift
Sec. 37B. ASSIGNMENT OF PROPERTY RECEIVED FROM A DECEDENT
(e) An assignment that would defeat a spendthrift provision imposed in a trust may not be made under this section.
True or False
True
Sec. 37C. SATISFACTION OF DEVISE
(A) Property given to a person by a testator during the testator's lifetime is considered a satisfaction, either wholly or partly, of a devise to the person if:
(a) the testator's will provides for deduction of the lifetime gift
(b) the testator declares in a contemporaneous writing that the lifetime gift is to be deducted from or is in satisfaction of the devise;
(c) the devisee acknowledges in writing that the lifetime gift is in satisfaction of the devise;
(d) all of the above
(e) a & c only
(d) all of the above
Sec. 37C. SATISFACTION OF DEVISE
(b) Property given in ______ satisfaction of a devise shall be valued as of the earlier of the date on which the devisee acquires possession of or enjoys the property or the date on which the testator dies.
B) partial
Sec. 38. PERSONS WHO TAKE UPON INTESTACY
(a) Intestate - No Spouse (Laura)
Where any person, having title to any estate, real, personal or mixed, shall die intestate, leaving no spouse, it shall descend and pass undivided to his kindred, in the following course:
1. children and their descendants - ?
2. No children/g-children - ?
3. No father/mother - ?
4. No parents/siblings - ?
1. children + des 100%
2. No children/g-children - Parents 100% (D=M). Dead Dad, Mom 50%, siblings 50% (if no sibs, Mom 100%).
3. No living parents - Sibs + sibs des 100%.
4. No parents/sibs - Paternal 50% + Maternal 50% kindred: 1/2 G-pa + 1/2 G-ma. G-pa dead, 1/2 G-ma + 1/2 G-pa des (if no des, all Maternal 50% to G-ma).
No living g-parent, 50% to Pat/Mat des, and so on without end.
Sec. 38. PERSONS WHO TAKE UPON INTESTACY
(b) Intestate - Married : SEPARATE PROPERTY ONLY
Where any person having title to any estate, real, personal or mixed, other than a community estate, shall die intestate as to such estate, and shall leave a surviving spouse, such estate of such intestate shall descend and pass as follows:
1. intestate, married w/ children - ?
2. intestate, married w/ no children - ?
1. Personal Prop: children-des 2/3, spouse 1/3. Real Prop: children-des 2/3, spouse 1/3 with life estate, remainder to children-des.
2. Personal Prop: spouse 100%. Real Prop: spouse 50%, parents 50% (M=D). Dead Dad, Mom 25%, sibs 25% (if no sibs, Mom 50%) No live parents, sibs-des 50%. No live parents or sibs-des, spouse 100%.
Sec. 39. NO DISTINCTION BECAUSE OF PROPERTY'S SOURCE
There shall be no distinction in regulating the descent and distribution of the estate of a person dying intestate between property which may have been derived by gift, devise or descent from the _____, and that which may have been derived by gift, devise or descent from the _____; and all the estate to which such intestate may have had title at the time of death shall descend and vest in the heirs of such person in the same manner as if he had been the original purchaser thereof.
