ESTATE PLANNING: WILLS, ESTATES, AND TRUSTS
After this course, you should understand the following:
1. How property, both real and personal, can be devised and bequeathed to named heirs in a will
2. What happens to property of a decedent when there is no will
3. The requirements for “testamentary capacity”, what it takes to make a valid will (that can be admitted to probate
4. The steps in the probate and administration of a will
5. How a will is distinguished from a trust, and how a trust is created, how it functions, and how it may come to an end, and
6. The various kinds of trusts, as well as factors that affect both estates and trusts