Property law validating life

16 Oct

For that reason,, with permission from the NCC of USLs, has also adopted this language for the "Model Law" for creating enforceable "Pet Trusts." Sec. Purpose To authorize the creation of testamentary and inter vivos trusts to provide for the care of an animal. Definitions (a) "Animal" means a companion animal (including, but not limited to, a cat, dog, rabbit, guinea pig, hamster, gerbil, ferret, mouse, rat, bird, fish, reptile or horse) which is living, and is owned and cared for by the taxpayer establishing the trust, at the time of the creation of the trust.

(b) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government; governmental subdivision, agency, or instrumentality; public corporation, or any other legal or commercial entity.

The term heirs refers to those persons entitled to the property of the deceased under the intestate succession law.

In Michigan, probate administration is under the jurisdiction of the probate court, which is generally organized along county lines.

Answers/Explanations for RAP in RAP Problem Sets (pages 315, 317-318, 325-326) Note 3(a), page 315.

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O’s reversion satisfies the RAP; it is vested for purposes of the RAP at the time of O's deed, since it is an interest retained by the grantor.A petition to admit a will to probate, or a petition for the administration of the estate of a person dying intestate, is properly filed in the probate court in the county in which the person resided at the time of his or her death.Probate administration may not be necessary upon the death of an individual.If B is already age 50 or older at the time of the conveyance, his interest is a vested remainder in fee simple absolute, which satisfies the RAP as an already indefeasibly vested interest. O conveys "to A for life, then to B if B is then living, but if B is not then living, to C." O’s conveyance attempts to create a life estate in A, a contingent remainder in fee simple absolute in B (contingent upon surviving A), an alternative contingent remainder in fee simple absolute in C (contingent upon B not surviving A), and a reversion in fee simple absolute in O.The interests in B and C are valid under the RAP because the determining event must happen at the end of A’s lifetime.