Cartoons, -> Wills and Trusts Cartoons
LLC Agreement cartoons image illustration picture
LLC Agreement

Description:
Achaian, Inc. v. Leemon Family LLC; parties to an LLC have substantial authority to shape their own affairs, and any conflicts between the LLC Act and their agreement will be resolved in favor of the agreement.

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Aleynikov v. Goldman Sachs Group, Inc. cartoons image illustration picture
Aleynikov v. Goldman Sachs Group, Inc.

Description:
Delaware corporate law authorizes the indemnification of an officer's legal expenses when the officer has been successful in the underlying proceeding, as well as the advancement of expenses in pending proceedings.

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Termination of Minority Shareholder cartoons image illustration picture
Termination of Minority Shareholder

Description:
Gallagher v. Lambert; A minority shareholder in a close corporation who agrees to the repurchase of his shares upon termination of employment acquires no right against at-will discharge.

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Disinterested Board Members cartoons image illustration picture
Disinterested Board Members

Description:
Gordon v. Goodyear; a shareholder derivative action must state with particularity any effort made by the plaintiff to obtain the desired action from the directors and the reasons for not obtaining the action or making the effort.

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Preliminary Injunction Requirements cartoons image illustration picture
Preliminary Injunction Requirements

Description:
In re El Paso Corp. Shareholder Litigation; to obtain a preliminary injunction, must demonstrate (1) a reasonable probability of success on the merits, (2) will suffer irreparable harm, and (3) the balance of the equities

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Dissolution By Minority Shareholders cartoons image illustration picture
Dissolution By Minority Shareholders

Description:
In re Kemp and Beatley, Inc.; minority shareholders may dissolve a close corporation to redress oppressive actions arising from the award of de facto dividends to all but minority shareholders.

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Employment At Will cartoons image illustration picture
Employment At Will

Description:
Merola v. Exergen Corp.; employment at will permits termination without cause, even in a close corporation.

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Minority Shareholder Rights cartoons image illustration picture
Minority Shareholder Rights

Description:
Nixon v. Blackwell; absent specific contractual provisions, a minority shareholder is not entitled to relief from majority approved corporate actions in a closely held corporation. Elect close corporation status.

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Proper Purpose cartoons image illustration picture
Proper Purpose

Description:
Paul v. China MediaExpressHoldings, Inc.; shareholder may inspect the books and records of a corporation to investigate fraud and mismanagement, and the ability of the board to act independently and in good faith.

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Dissociation From Partnership cartoons image illustration picture
Dissociation From Partnership

Description:
Saint Alphonsus Diversified Care, Inc. v. MRI Associates, LLP; dissociation from a partnership is wrongful only if it is in breach of an express provision of the partnership agreement.

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Dead Hand Provision cartoons image illustration picture
Dead Hand Provision

Description:
Carmody v. Toll Brothers, Inc.; A dead hand provision in a poison pill rights plan is both invalid as ultra vires and because it constitutes a breach of fiduciary duty.

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Unsigned LLC Agreement cartoons image illustration picture
Unsigned LLC Agreement

Description:
Elf Atochem North America, Inc. v. Jaffari; a limited liability company (LLC) is bound by the operating agreement signed by some members and that defines the LLC's governance and operation, even if the LLC itself did not sign.

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Majority Of The Minority Vote cartoons image illustration picture
Majority Of The Minority Vote

Description:
In re MFW Shareholders Litigation; business judgment rule standard of review applies to controlling stockholder merger if procedural safeguards followed; majority of the minority stockholder approval. Going private transaction.

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Deceptive Device or Contrivance cartoons image illustration picture
Deceptive Device or Contrivance

Description:
S.E.C. v. Dorozhko; Computer hacking could be a deceptive device or contrivance prohibited by Section 10(b) and Rule 10b-5, regardless of whether it is accompanied by a breach of fiduciary duty.

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Special Litigation Committee cartoons image illustration picture
Special Litigation Committee

Description:
Boland v. Boland Trane Associates, Inc.; Although an SLC's substantive decisions are presumed reasonable, there is no presumption that the SLC was independent, acted in good faith, or followed reasonable procedures.

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Doctrine of Corporate Opportunity cartoons image illustration picture
Doctrine of Corporate Opportunity

Description:
Broz v. Cellular Information Systems, Inc.; corporate fiduciary generally must place the corporation's interests before his own, but here no valid expectancy interest and did not usurp any corporate opportunity.

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Imputed Knowledge cartoons image illustration picture
Imputed Knowledge

Description:
Carter v. Gugliuzzi; the knowledge of an agent acting within the scope of his or her authority is chargeable to the principal, regardless of whether that knowledge is actually communicated. Scope of employment.

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Limited Liability Company Operating Agreement cartoons image illustration picture
Limited Liability Company Operating Agreement

Description:
Elf Atochem North America, Inc. v. Jaffari; a limited liability company is bound by the operating agreement signed by some members and that defines the LLC's governance and operation, even if the LLC itself did not sign.

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LLC Apparent Authority cartoons image illustration picture
LLC Apparent Authority

Description:
Estate of Collins v. Geist; A manager of an LLC has the apparent authority to bind the LLC when he executes in its name an instrument for carrying on, in the usual way, its business or affairs. Limited Liability Company.

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Follow Corporate Bylaws cartoons image illustration picture
Follow Corporate Bylaws

Description:
Fogel v. U.S. Energy Systems, Inc.; mere congregation of a corporation's directors in same room does not necessarily result in a board meeting, and does not obviate the need for adherence to corporate bylaws and General Corporation Law.

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Claim For Attorney's Fees cartoons image illustration picture
Claim For Attorney's Fees

Description:
Freedman v. Adams; when the underlying shareholder claim is invalid, so is the shareholder's claim for attorneys' fees.

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LLC Fiduciary Duties cartoons image illustration picture
LLC Fiduciary Duties

Description:
Gatz Props., LLC v. Auriga Capital Corp.; Magic words like "entire fairness" or "fiduciary duties" are not required to impose fiduciary standards of conduct as a contractual matter.

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Irrevocable Proxy cartoons image illustration picture
Irrevocable Proxy

Description:
Haft v. Haft; Under Delaware corporation law, an interest sufficient to support an irrevocable proxy must either be an interest in the stock itself or an interest in the corporation generally, such as being CEO.

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Usurp Corporate Investment Opportunity cartoons image illustration picture
Usurp Corporate Investment Opportunity

Description:
In re eBay, Inc. Shareholders Litigation; The fiduciary duty of loyalty requires directors and officers to offer investment opportunities derived from corporate business to the corporation before acting on them individually. Self dealing.

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Pleading Standards cartoons image illustration picture
Pleading Standards

Description:
In re Massey Energy Company Derivative and Class Action Litigation; application of plaintiff-friendly pleading standards usually precludes a dismissal of their claims at the pleading stage.

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Majority Shareholder Fiduciary Duty cartoons image illustration picture
Majority Shareholder Fiduciary Duty

Description:
Jones v. H.F. Ahmanson & Co.; Majority shareholders have a fiduciary responsibility to the minority and to the corporation to control the corporation in a fair, just, and equitable manner. All shareholders must benefit proportionately.

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Employee Stockholder Rights cartoons image illustration picture
Employee Stockholder Rights

Description:
Jordan v. Duff & Phelps, Inc.; If a closely held company withholds from an employee-stockholder material information about possible increases in stock value in breach of its fiduciary duty, the employee-stockholder may be entitled to damages.

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Going Private Merger Standard of Review cartoons image illustration picture
Going Private Merger Standard of Review

Description:
Kahn v. M & F Worldwide Corp.; business judgment standard of review governs going private mergers with a controlling stockholder if independent special committee and informed vote of a majority of the minority stockholders.

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Torts By Attorney cartoons image illustration picture
Torts By Attorney

Description:
Koutsogiannis v. BB&T; clients can be held liable for its attorney's actions taken within the scope of representation, including possible torts

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Business Entity Choice cartoons image illustration picture
Business Entity Choice

Description:
Meyer v. Oklahoma Alcoholic Beverage Laws Enforcement Commission; the type of business entity chosen may affect the types of business that can be conducted by the entity if it affect the licenses the entity may obtain.

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Distinct Legal Entity cartoons image illustration picture
Distinct Legal Entity

Description:
3519-3513 Realty, LLC v. Law; a limited liability company and its sole member are distinct legal entities.

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Managing Co-Member Fiduciary Duty cartoons image illustration picture
Managing Co-Member Fiduciary Duty

Description:
Salm v. Feldstein; a managing co-member of an LLC owes the other members a fiduciary duty to make full disclosure of all material facts. Self dealing. Usurp corporate opportunity.

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Director Duty of Loyalty cartoons image illustration picture
Director Duty of Loyalty

Description:
Shocking Technologies, Inc. v. Kosowsky; a director acting in subjective good faith may nevertheless breach his duty of loyalty.

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Attorney Apparent Authority cartoons image illustration picture
Attorney Apparent Authority

Description:
Speed v. Muhanna; an attorney of record has apparent authority to enter into an agreement on behalf of his client, and the agreement is enforceable against the client by other parties.

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Director Liability for Employee Misconduct cartoons image illustration picture
Director Liability for Employee Misconduct

Description:
Stone v. Ritter; In the absence of red flags alerting corporate directors to misconduct, good faith is measured by the directors' actions to assure that a reasonable reporting and information system exists.

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Common Fund Fee Award cartoons image illustration picture
Common Fund Fee Award

Description:
Sugarland Ind., Inc. v. Thomas; when services provided by shareholders and their counsel result in a financial benefit to the corporation, they are entitled to a fair fee. Common fund method. Lodestart method.

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Award of Attorneys' Fees cartoons image illustration picture
Award of Attorneys' Fees

Description:
Tandycrafts, Inc. v. Initio Partners; In corporate litigation, the court may order the payment of counsel fees and related expenses to a plaintiff whose efforts resulted in the creation of a common fund or the conferring of a corporate benefit.

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LLC or Corporation cartoons image illustration picture
LLC or Corporation

Description:
Weinstein v. Colborne Foodbotics LLC; An LLC is distinct from a corporation and is not governed by the Colorado Business Corporation Act or case law decided thereunder.

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Control from the Grave cartoons image illustration picture
Control from the Grave

Description:
Estate of Feinberg; control from the grave trust; deceased controlling using trust document. A testamentary disposition that does not discourage marriage or encourage divorce is not void as against public policy.

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Attorney Fees cartoons image illustration picture
Attorney Fees

Description:
Estate of Stevenson; estate administrator; contingency fee agreement; greedy lawyers.

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Beneficiary Designation cartoons image illustration picture
Beneficiary Designation

Description:
Change beneficiary designations; Lincoln Life and Annuity Company of New York v. Caswell; life insurance benficiary designation controls over will.

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How to Change a Will cartoons image illustration picture
How to Change a Will

Description:
Revoking will; Ward-Allen v. Gaskins; destroy will; original will; new will; old will.

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Draft a Will cartoons image illustration picture
Draft a Will

Description:
Nunnenman v. Estate of Grubbs; change a will; change benficiary; designate beneficiary.

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Change Beneficiary Designation cartoons image illustration picture
Change Beneficiary Designation

Description:
QDRO; Beneficiary designations; Kennedy v. Plan Administrator for DuPont Savings and Investment Plan; divorced spouse retirement benefits; ERISA.

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Fiduciary Liability cartoons image illustration picture
Fiduciary Liability

Description:
Trustee liability; administrator liability; executor liability; beneficiary lawsuit.

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Community Property cartoons image illustration picture
Community Property

Description:
Estate of Borghi; Separate property or community property.

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Professional Trustee cartoons image illustration picture
Professional Trustee

Description:
McGinley v. Bank of America, N.A.; trustee fiduciary duties may be modified by the trustor.

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Designation of Beneficiary cartoons image illustration picture
Designation of Beneficiary

Description:
Araiza v. Younkin; changing beneficiary; living trust; totten trust.

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Contest a Will cartoons image illustration picture
Contest a Will

Description:
Estate of Ellis; charitable giving; give to charity instead of family.

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Revoke Will cartoons image illustration picture
Revoke Will

Description:
Gushwa v. Hunt; revoke will; some states require a revocatory act to be done on an original of the will.

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Probate cartoons image illustration picture
Probate

Description:
Oliva-Foster v. Oliva; second marriages may create problems for children of the first marriage; conditions under which a destroyed or revoked will may be revived.

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Frivilous Lawsuits cartoons image illustration picture
Frivilous Lawsuits

Description:
Rudnick v. Rudnick; litigious beneficiaries; attorney fees.

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Draft Will cartoons image illustration picture
Draft Will

Description:
Morse v. Sharkey; plain language; a court will give effect to the intent of the drafter of a will as indicated in the plain language of the will itself.

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Spendthrift Trust cartoons image illustration picture
Spendthrift Trust

Description:
Estate of Gist; Medicaid payments owed to state after death of beneficiary of spendthrift trust

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Intestate cartoons image illustration picture
Intestate

Description:
In re Estate of Burden; children born in and out of wedlock may share equally in the estate if the parent held out the child as his own.

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Demand for Accounting cartoons image illustration picture
Demand for Accounting

Description:
Johnson v. Johnson; trust agreement cannot eliminate trustee's fiduciary duties.

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Removal of Trustee cartoons image illustration picture
Removal of Trustee

Description:
Kappus v. Kappus; court discrection to remove executor or trustee.

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Woodward v. Commissioner of Social Security cartoons image illustration picture
Woodward v. Commissioner of Social Security

Description:
A posthumously conceived child will be considered issue if there is genetic relationship between child and decedent and proof that decedent consented to conception and to support of any resulting child. lawful issue; posthumous child.

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In Re Estate of Wright cartoons image illustration picture
In Re Estate of Wright

Description:
Subscribing witnesses have duty to be satisfied of testator sanity before they subscribe will. Contest; testamentary capacity; unsound mind.

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Stevens v. Casdorph cartoons image illustration picture
Stevens v. Casdorph

Description:
Decedent signature must be in presence of two competent witnesses, both of whom acknowledge decedent signature in presence of each other. Attesting witness.

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In re Snide cartoons image illustration picture
In re Snide

Description:
Under narrow circumstances, will can be validated through reliable evidence of valid testamentary scheme, although formalistic requirements are lacking. Guardian ad litem; mistake; reformation; testamentary intent.

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In re Estate of Hall cartoons image illustration picture
In re Estate of Hall

Description:
Although will generally requires two attesting witnesses, document may be validated with clear and convincing evidence that decedent intended document to be his will. Notary public.

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In re Estate of Kuralt cartoons image illustration picture
In re Estate of Kuralt

Description:
When document evinces present testamentary intent, court will honor testator intent. Codicil; holographic will.

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LaCroix v. Senecal cartoons image illustration picture
LaCroix v. Senecal

Description:
Doctrine of dependent relative revocation sustains revoked gift if testator cancels or destroys will with present intention of making new one immediately but new will is not made or, if made, fails of effect for any reason. Residuary clause; revocation.

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Egelhoff v. Egelhoff cartoons image illustration picture
Egelhoff v. Egelhoff

Description:
When federal and state statutes conflict, federal statute preempts state requirements. Employee benefit plan; Employee Retirement Income Security Act; pension; ERISA; preemption; slayer rule.

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Bush v. Schiavo cartoons image illustration picture
Bush v. Schiavo

Description:
Judiciary is coequal branch of government vested with sole authority to exercise judicial power and legislature cannot reallocate balance of power expressly delineated in Constitution. Separation of powers.

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Arnheiter v. Arnheiter cartoons image illustration picture
Arnheiter v. Arnheiter

Description:
Court has no power to correct or reform will or change any of language therein by substituting or adding words, but may disregard obviously mistaken references when necessary. Mistake vitiatie.

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Lambeff v. Farmers Co-operative Executors & Trustees Ltd. cartoons image illustration picture
Lambeff v. Farmers Co-operative Executors & Trustees Ltd.

Description:
By statute omitted child who has been left without adequate provision for her proper maintenance, education, or advancement in life may claim provision from her parents estate. Preterrmitted heir.

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Scheffel v. Krueger cartoons image illustration picture
Scheffel v. Krueger

Description:
Statute authorizing spendthrift trusts creates absolute prohibition against attaching assets in those trusts. Attachment; spendthrift fund.

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Federal Trade Commission v. Affordable Media, LLC cartoons image illustration picture
Federal Trade Commission v. Affordable Media, LLC

Description:
When trust is self-funded, was set up specifically to take advantage of laws shielding trust from courts, and is subject to control by beneficiaries, trust is subject to court order to turn over assets. Asset protection trust; ponzi scheme.

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Smithers v. St. Luke Roosevelt Hospital Center cartoons image illustration picture
Smithers v. St. Luke Roosevelt Hospital Center

Description:
If trustees of charity commit breach of trust, donor or his heirs have standing to enforce conditions placed on use of charitable donations. Charitable bequest.

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In Re Estate of Janes cartoons image illustration picture
In Re Estate of Janes

Description:
Prudence of trustees investments must be considered in light of circumstances of entire trust, not merely with regard to individual investment. Diversification; prudent.

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Per Stirpes cartoons image illustration picture
Per Stirpes

Description:
Estate of Locke, Intestacy, intestate, per capita, per stirpes.

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Equitable Adoption cartoons image illustration picture
Equitable Adoption

Description:
Bean v. Ford, equitable adoption, de facto adoption.

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Unwitnessed Wills May Be Probated cartoons image illustration picture
Unwitnessed Wills May Be Probated

Description:
Estate of Hall, unwitnessed wills may be probated.

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Constructive Trust cartoons image illustration picture
Constructive Trust

Description:
Garrett v. Read, constructive trust, joint will, mutual will, scrivener.

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Insane Delusion Invalidate Will cartoons image illustration picture
Insane Delusion Invalidate Will

Description:
Dougherty v. Rubenstein, monomania, must specifically relate to the questionable disposition.

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Tortious Interference With Expected Inheritance cartoons image illustration picture
Tortious Interference With Expected Inheritance

Description:
Peralta v. Peralta, not all estate related claims must be brought in probate court.

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Asset Not Removed from Trust By Change In Title cartoons image illustration picture
Asset Not Removed from Trust By Change In Title

Description:
Heaps v. Heaps, conversion, laches. Trust assets.

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Vested Remainder Interests Are Transferable cartoons image illustration picture
Vested Remainder Interests Are Transferable

Description:
Uchtorff v. Hanson, a remainder is contingent only if its existence depends on some dubious circumstance.

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Publicity Rights cartoons image illustration picture
Publicity Rights

Description:
Shaw Family Archives v. CMG Worldwide; Legislation enacted after decedent's death cannot increase the property that makes up estate; right of publicity.

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Lawyer Disclosure of Confidential Information cartoons image illustration picture
Lawyer Disclosure of Confidential Information

Description:
A v. B; A lawyer may disclose confidential information about one client to another client if the matter is an exceptional case with a compelling reason for disclosure.

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Posthumously Conceived Children are Issue cartoons image illustration picture
Posthumously Conceived Children are Issue

Description:
In re Martin B; If the governing instrument is silent, posthumous children conceived through in vitro fertilization with the consent of the parent are treated as part of their father's family for all purposes; en ventre sa mere.

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Alzheimer's Effect on Testamentary Capacity cartoons image illustration picture
Alzheimer's Effect on Testamentary Capacity

Description:
In re Estate of Washburn; Every person is presumed to be sane, unless there is evidence produced to rebut the presumption of capacity; testamentary capacity.

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Eccentricity Is Not Testamentary Incapacity cartoons image illustration picture
Eccentricity Is Not Testamentary Incapacity

Description:
Wilson v. Lane; Testamentary capacity; eccentricity or strange beliefs do not mean that a person is incapable of making a will, provided the person can form a rational desire regarding the disposition of his or her property; incapacity.

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Insane Delusion Must Relate To The Will cartoons image illustration picture
Insane Delusion Must Relate To The Will

Description:
Breeden v. Stone; An insane delusion invalidates a will only if the delusion materially affected the disposition in the will.

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Tortious Interference With An Expectancy cartoons image illustration picture
Tortious Interference With An Expectancy

Description:
Schilling v. Herrera; To bring action for tortious interference with expectancy, plaintiff must show the existence of an expectancy, intentional interference with expectancy through tortious conduct, causation, and damages; durable power attorney.

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Witness Disqualification From a Will cartoons image illustration picture
Witness Disqualification From a Will

Description:
Estate of Morea; The requirement that a witness have nothing to gain by admission of the will to probate is met if the witness receives less from the will than he or she would receive if the will were not admitted to probate.

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Preprinted Will Forms Show Testamentary Intent cartoons image illustration picture
Preprinted Will Forms Show Testamentary Intent

Description:
Estate of Gonzalez; Preprinted language in blank will forms may be used to establish the context of handwritten words.

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Anti-Lapse Statute Is Presumed To Apply cartoons image illustration picture
Anti-Lapse Statute Is Presumed To Apply

Description:
Ruotolo v. Tietjen; If a testator wishes to avoid the application of the anti-lapse statute, he or she must either unequivocally express that intent, or provide for an alternate bequest.

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Ademption Not Apply If Sale of Property by Agent cartoons image illustration picture
Ademption Not Apply If Sale of Property by Agent

Description:
Estate of Anton; Ademption will not occur if specifically devised property is sold by a testator's attorney-in-fact after the will was executed; adeem.

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Inter Vivos Trusts May Not Be Challenged cartoons image illustration picture
Inter Vivos Trusts May Not Be Challenged

Description:
Linthicum v. Rudi; Beneficiaries of a revocable living trust have no standing to challenge amendments to the trust, but may challenge the settlor's capacity through the guardianship statutes; inter vivos trust.

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Deposits Paid on Death Are Testamentary cartoons image illustration picture
Deposits Paid on Death Are Testamentary

Description:
In re Estate of Atkinson; Deposits that are payable on the death of the depositor are testamentary and are included in a decedent's estate.

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Joint Bank Accounts Are Presumed A Gift cartoons image illustration picture
Joint Bank Accounts Are Presumed A Gift

Description:
Varela v. Bernachea; When a joint bank account is established with the funds of one person, a gift of the funds is presumed; donative intent.

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Scope Of Power Of Attorney Is Determined By Principal's Intent cartoons image illustration picture
Scope Of Power Of Attorney Is Determined By Principal's Intent

Description:
In re Estate of Kurrelmeyer; The scope of a power of attorney is determined by the principal's intent when the power was created; fiduciary duty.

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Prenuptual Agreement Validity cartoons image illustration picture
Prenuptual Agreement Validity

Description:
Reece v. Elliott; An antenuptial agreement is valid if a fair disclosure is made of a spouse's assets and the other spouse had the opportunity to ask questions and learn the extent of the other's holdings, even if he or she did not do so.

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Presumption That Marriage Revokes Prior Will Is Rebuttable cartoons image illustration picture
Presumption That Marriage Revokes Prior Will Is Rebuttable

Description:
In re Estate of Prestie; An amendment to an inter vivos trust in favor of a spouse is insufficient to rebut the presumption that marriage revokes a prior will; pour-over will.

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Children Born After a Will Is Executed cartoons image illustration picture
Children Born After a Will Is Executed

Description:
Gray v. Gray; A child born after the execution of a will may not claim a share of the estate if the will left substantially all of the estate to the surviving parent, and the testator had another child when the will was drafted who was omitted from the wi

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Pretermitted Heirs Laws Do Not Apply To Trusts cartoons image illustration picture
Pretermitted Heirs Laws Do Not Apply To Trusts

Description:
Kidwell v. Rhew; The pretermitted heir statute applies only to heirs omitted from wills, and does not apply to an heir omitted as a beneficiary of an inter vivos trust; donative; special administrator.

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Trusts May Be Oral cartoons image illustration picture
Trusts May Be Oral

Description:
In re Estate of Fournier; An oral trust may be established by clear and convincing evidence that the conditions for creation of a trust are met; declatory judgment.

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Equitable Deviation of Trust cartoons image illustration picture
Equitable Deviation of Trust

Description:
In re Riddell; Equitable deviation allows the court to modify the administrative or distributive provisions of a trust if circumstances not anticipated by the settlor mean that modification or deviation will further the purposes of the trust.

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Court May Appoint New Trustee cartoons image illustration picture
Court May Appoint New Trustee

Description:
Davis v. U.S. Bank National Association; A court may remove a trustee upon the request of all of the qualified beneficiaries if the removal of the trustee best serves the interests of all.

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Trustee Duty To Diversify cartoons image illustration picture
Trustee Duty To Diversify

Description:
Wood v. U.S. Bank, N.A.; A trustee has a duty to diversify unless the trust contains specific language authorizing or directing the trustee to retain in a specific investment a larger percentage of trust assets than would otherwise be prudent.

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Duties of Trustee Are Determined By Trust Instrument cartoons image illustration picture
Duties of Trustee Are Determined By Trust Instrument

Description:
Howard v. Howard; A trustee owes a duty to the remainder beneficiaries as well as to the income beneficiary, but those duties must be carried out in light of any preference expressed in the trust instrument.

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Presumption In Favor of a Unitrust Election cartoons image illustration picture
Presumption In Favor of a Unitrust Election

Description:
Professional trustee; In re Matter of Heller; A unitrust election that benefits a trustee will be scrutinized with extra care by the court, but there is no prohibition against such an election;

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Trust Transactions cartoons image illustration picture
Trust Transactions

Description:
Allard v. Pacific National Bank; A trustee must inform trust beneficiaries of all material facts for non-routine transactions that significantly affect the trust estate and the interests of the beneficiaries before the transactions take place.

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Revocable Living Trust cartoons image illustration picture
Revocable Living Trust

Description:
Brown v. Miller; transfers of assets to a revocable living trust are the same as transfers of assets outright to the person owning the trust.

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Divorce Effect On Trust cartoons image illustration picture
Divorce Effect On Trust

Description:
Clymer v. Mayo; In the absence of an expressed contrary intent, a divorce will revoke the provisions of a living trust that benefit a spouse.

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Life Insurance Beneficiary Designation cartoons image illustration picture
Life Insurance Beneficiary Designation

Description:
Cook v. Equitable Life Assurance Society; changing a beneficiary designation by will alone is ineffectual, but strict compliance with life insurance policy will not be required if the insured has done all within his powers

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Undue Influence or Lack of Capacity cartoons image illustration picture
Undue Influence or Lack of Capacity

Description:
Estate of Lakatosh; Undue influence is the existence of a confidential relationship, the person enjoying the relationship received the bulk of the estate, and that the decedent's intellect was weakened.

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Assets Payable Upon Death cartoons image illustration picture
Assets Payable Upon Death

Description:
In re Estate of Myers; the assets available to satisfy a surviving spouse's elective share of the decedent spouse's estate do not include assets that are payable on death to others

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Extrinsic Evidence of Testator Intent cartoons image illustration picture
Extrinsic Evidence of Testator Intent

Description:
In re Estate of Cole; When construing contradictory provisions of a will, a court may consider direct evidence of a testator's intentions.

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Reform A Will cartoons image illustration picture
Reform A Will

Description:
In re Estate of Herceg; A will may be reformed to reflect the intention of the testator if there is clear and convincing evidence that there was a mistake in drafting the will, and of what the intention of the testator was.

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Pretermitted Heir Statute cartoons image illustration picture
Pretermitted Heir Statute

Description:
In re Estate of Jackson; the pretermitted heir statute applies only to wills, and not to revocable trusts.

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Presumption of Undue Influence cartoons image illustration picture
Presumption of Undue Influence

Description:
In re Estate of Reid; to overcome the presumption of undue influence, the proponent of a will must show good faith, grantor's full knowledge, and the grantor's independent consent and action.

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Testator Intent cartoons image illustration picture
Testator Intent

Description:
In re Estate of Rigsby; extra instruments offered for probate will be admitted only if it is readily apparent that the testator intended that the sheets together would constitute the last will and testament of the testator. Holographic will.

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Intent To Revoke Will

Description:
In re Estate of Stoker; a will may be revoked if the testator executes a subsequent inconsistent will, or if he or she burns or destroys the will. Holographic will. Burn a will.

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Extrinsic Evidence Admissable

Description:
In re Gibbs' Estate; Where details of identification are involved, courts should receive evidence tending to show that a mistake has been made. Will. Legatee misake. Reformation.

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Trustee Self Dealing

Description:
In re Gleeson's Will; a trustee cannot deal with trust property in his individual capacity. Absolute bar. No exception for good faith or fair dealing.

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Will Formation

Description:
In re Probate of Will and Codicil of Macool; for a writing to be admitted into probate as a will, must show, by clear and convincing evidence, that the decedent actually reviewed the document and thereafter gave consent to the writing.

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Reciprocal Wills

Description:
Keith v. Lulofs; Reciprocal wills do not create irrevocable contracts unless there is clear and satisfactory evidence to establish an agreement between the testators. Mirror mage wills.

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Settlor's Intent

Description:
Ladysmith Rescue Squad, Inc. v. Newlin; for wills and trusts the testator's or settlor's intent prevails over the desires of the beneficiaries; intent is ascertained by the language the testator or settlor used in creating the will or trust.

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Contingent Beneficiary of Revocable Trust

Description:
Moon v. Lesikar; A contingent beneficiary of a revocable trust does not have standing to contest the settlor's disposition of trust assets.

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IRA Beneficiary Designation

Description:
Nunnenman v. Estate of Grubbs; a change in beneficiary can be accomplished in a will so long as the language of the will is sufficient to identify the account involved and an intent to change the beneficiary. designate beneficiary.

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Revoke A Trust

Description:
Patterson v. Patterson; a trust may be revoked either by complying with a method for revocation set out in the trust or by any method manifesting clear and convincing evidence of the settlor's intent.

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Interest In A Trust

Description:
Tait v. Community First Trust Co.; the interest of a beneficiary in an inter vivos trust vests when the trust is created and thus does not lapse if the beneficiary predeceases the settlor.

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Dictionary Definition

Description:
Timmons v. Ingrahm; in determining the intent of the settlor, a technical term in a trust instrument will be accorded its legal definition, unless it is obvious that the settlor used the term in a different sense. Ordinary legal meaning.

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