Understand the substantive rules and policies of the law of wills, trusts, and estates, and how to apply them in practice. This practical guide to the law of donative transfers takes you through the maze of terminology, rules, and policies raised by wealth transfers. It discusses how estate planners use these various tools and leads you through the process of applying them in an estate planning practice.

In clear and concise language, this book covers the essentials of wills, trusts and estates, including: how property passes when a decedent dies without a will; requirements to validly execute a will; grounds for contesting a will; revocation, interpretation, and construction of wills; will substitute property transfers; limits on the freedom of property owners to dispose of property; the creation and operation of trusts; powers of appointment; and future interests as used in wills and trusts. It also covers the Rule Against Perpetuities, duties of fiduciaries who administer estates and trusts, planning for incapacity, ethics for estate planners, wealth transfer taxation, and the income taxation of trusts, estates, grantors, and beneficiaries.

In most instances the relevant statutory and common law rules and policies for resolving wealth transfer disputes are addressed, along with the planning implications that these controversies raise. Affirmative planning responses and other planning considerations are also discussed.