The course starts with a
description of what a will is, when it is effective and why it is important.
We’ll look at the law governing wills, including various state laws and the
Uniform Probate Code. We’ll also look at what happens to an estate when there
is no will, which is governed by the rules of intestacy.
Then, we’ll look at various
types of wills and their roles. We’ll also cover the requirements for a valid
will, including testamentary intent, capacity and the execution requirements to
ensure validity. Finally in module 2, we’ll look at grounds for invalidating a
will, such as fraud and undue influence.
In module 3, we’ll turn to
looking at the ways wills can dispose of property. We’ll discuss the
differences between real and personal property and non-probate property that
wills do not affect at all. We’ll also learn about the different types of will
transfers and the rules of ademption, abatement and lapse.
In module 4, we’ll discuss the
roles of the fiduciaries, who are in charge of administering wills. We’ll
discuss how executors and trustees get appointed and their powers and
responsibilities. We’ll also look at guardians for minor children and guardian ad litems.
In our last module, we’ll
focus on testamentary trusts, which are trusts set up by wills. We’ll look at
various types of testamentary trusts and their roles in estate planning. We’ll
also discuss how they are administered after death.
This course is a fundamental
course in estate planning and when you complete it, we hope you’ll go on and
take advantage of our courses in trust drafting and other estate planning
areas.
Best of luck and we welcome
your feedback!
ELD-301: Wills and Testamentary Trusts