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In trusts and estates law, an anti-lapse statute is a construction rule. If a testator devises a gift in his will to a person who

In trusts and estates law, an anti-lapse statute is a construction rule. If a testator devises a gift in his will to a person who predeceases the testator, the anti-lapse statute allows the gift to transfer to the devisee's descendants rather than forcing the gift to pass through intestacy.

Who will receive the devise to Alec;

As per the statute, Jennifer will receive the device of Alec, i.e. $20,000.

the devise to Bret;

As per the statute, Olivia and Marla will equally receive the device of Bret, i.e. $5000 each.

the device to Angelo; and

As per the statute, Ariel, Adriana and Angelica will equally receive the device of Angelo, i.e. $3333 each.

Who will receive the residual share to Stuart?

This is residuary trust because the residuary beneficiary receives the "residue" of an estate or trust i.e. all of the property which was left after specific gifts are distributed. Residuary beneficiaries are also called "remainder beneficiaries" because they receive all of the property that remains after specific gifts are made.

As per the anti-lapse statute, Rochester and Stuart's daughter Rosanna will be residuary of Thomas's estate, thus, they will receive the remainder of Thomas. Therefore, Half remaining estate will go to Rochester and Half will go to Rosanna.

Ms. Montgomery has asked you to create a memo regarding all the possible issues that may arise with Samantha and Darrin. In an intra-office memorandum that addresses the following items:

1. Georgia state laws for the Knight's domicile.

2.Describe the client's estate planning needs and concerns for their retirement, children and grandchildren.

3.Explain the need for wills, advance directives, and testamentary and non- testamentary trust or trust provisions that may be advantageous to them.

4.Explain the negative ramifications of inadequate/outdated estate planning.

5.Include an Introduction summarizing the known facts and the task, and a Conclusion summarizing the major points.

6.Provide at least three (3) primary legal sources as support for your recommendations, each of which must be properly cited pursuant to The Bluebook.

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Principles of Economics

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