Lecture Business law with UCC applications (13/e): Chapter 31 - Brown, Sukys

Chapter 31 - Wills, trusts, and advanced directives. After completing this chapter, students will be able to: Give details about the sources of probate law and its relevance to bus i ness entities, explain the formal requirements for executing a will, determine whether a person who makes a will has the capacity to do so,...

Business Law with UCC Applications,13e Wills, Trusts, and Advanced Directives Chapter 31 McGraw­Hill/Irwin         Copyright © 2013 by The McGraw­Hill Companies, Inc. All rights reserved Learning Objectives Give details about the sources of probate law and its relevance to bus i ness entities Explain the formal requirements for executing a will Determine whether a person who makes a will has the capacity to so Compare the protection of children with the protection of spouses under the law of wills Identify the different methods of revoking or changing a will 31­2 Learning Objectives (cont.) Explain the three grounds for contesting a will Describe who will inherit the property of someone who dies without a will Describe the steps to be taken by an executor or administrator in settling an estate Discuss the types and purposes of advance directives 10.Differentiate among the various types of trusts and determine when they might be used 31­3 Wills, Trusts, and Advanced Directives • Sources and Relevance of Probate Law – Relevance of Probate to Business – Probate Terminology 31­4 Wills, Trusts, and Advanced Directives • The Law of Wills – Requirements for Executing a Will – Protection of Spouses and Children – Revoking, Changing, and Contesting a Will – Dying without a Will – Simultaneous Death – Settling an Estate 31­5 Wills, Trusts, and Advanced Directives • Requirements for Executing a Will – Soundness of Mind – Formal Requirements – Need for Accuracy – Informal Wills 31­6 Wills, Trusts, and Advanced Directives • Protection of Spouses and Children – Protection of Spouses – Protection of Children 31­7 Wills, Trusts, and Advanced Directives • Revoking, Changing, and Contesting a Will – Revoking a Will – Changing a Will – Contesting a Will 31­8 Wills, Trusts, and Advanced Directives • Dying without a Will – Rights of the Surviving Spouse – Rights of Other Heirs 31­9 Wills, Trusts, and Advanced Directives • Advanced Directives – Living Wills and Health Proxies – The Right to Die and the Supreme Court 31­10 Wills, Trusts, and Advanced Directives • The Right to Die and the Supreme Court – The Government’s Compelling Interest in Life – Living Wills and the Right to Die – The Science Court Revisited 31­11 Wills, Trusts, and Advanced Directives • The Law of Trusts – Types of Trusts – Obligations of the Trustee 31­12 ... 31? ?3 Wills, Trusts, and Advanced Directives • Sources and Relevance of Probate Law – Relevance of Probate to Business – Probate Terminology 31? ?4 Wills, Trusts, and Advanced Directives • The Law. .. so Compare the protection of children with the protection of spouses under the law of wills Identify the different methods of revoking or changing a will 31? ?2 Learning Objectives (cont.) Explain... Changing a Will – Contesting a Will 31? ?8 Wills, Trusts, and Advanced Directives • Dying without a Will – Rights of the Surviving Spouse – Rights of Other Heirs 31? ?9 Wills, Trusts, and Advanced Directives