ELD-301: Wills and Testamentary Trusts
Welcome to Lawshelf’s video-course on wills. This course covers the device that allows people to transfer assets after death, an exception to the general rule that gifts can only be given by living people.
This is an introductory level course and no prior knowledge of law or criminal law is required. It is also a strongly recommended course for anyone considering further study in elder law and estate planning.
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!