Was given a testamentary or an inter vivos trust

Assignment Help Management Theories

Reference no: EM131379497

Walsh, as settlor , executed a declaration of trust, naming himself as trustee and giving himself the income from the trust during his lifetime. After his death, the income was to be paid to his sec ond wife for her life, and upon her death, to his two children, Edward and Margot.

Upon their deaths, the income was to be paid to the children of Edward and Margot, after which it terminated. The trust expressly provided that the settlor had not made any provisions for his third child, Patricia, because "previous provisions had been made in her behalf."

After executing the instrument, Walsh transferred to the trust the family residence, three farms, and a checking account.

Patricia argued that the trust was testamentary and therefore invalid because it failed to comply with the statute of wills. Was this a testamentary or an inter vivos trust? Explain.

First Nat'l Bank v. Hampson, 410 N.E.2d 1109 (IL).

Reference no: EM131379497

Questions Cloud

Explain do you agree with dixon : Dixon, who had been left out of the will, contended that Robinson lacked the mental capac ity to make a will. Do you agree with Dixon? Explain.

Create a network diagram using the tasks listed out : Create a Gantt chart using the tasks listed in the previous chart. Create a network diagram using the tasks listed out in the previous chart.

Explain role capitalism plays in corporate decision-making : In the land of free trade the public does not view all industries as equal. Do you believe that is ethical? Do you believe that some industries are unfairly targeted? Should it be consumers' choice to partake in products that are not healthy for t..

Which group had the greater interquartile range : If the mean reading level for boys was 4.2 and for girls was 4.6, what is the overall mean for the class?

Was given a testamentary or an inter vivos trust : Patricia argued that the trust was testamentary and therefore invalid because it failed to comply with the statute of wills. Was this a testamentary or an inter vivos trust? Explain.

Which of the following is considered a nuisance per se : Which of the following is required for adverse possession but not for a prescriptive easement? Which of the following is considered a nuisance per se

Explain the scientific method-describe the overall manner : The scientific method is useful in problem solving and decision-making in a wide variety of fields. In this assignment, you will demonstrate how to use the scientific method to make decisions and solve problems in your field of study or everyday l..

Why workplace diversity is important to a companys culture : BUS 302- Identify three examples that demonstrate the main reasons why workplace diversity is important to a company's culture and performance.

Is caroline entitled to an inte state share of fathers state : Winsor had another daughter, Caroline, who was not provided for in the will. Is Caroline entitled to an inte state share of her father's estate? Why or why not?

User Account

All Pages