Tuesday, April 28, 2015

Depletion of Eventual Probate Estate Through Inter Vivos Transfers

nlrg.com  One problematic issue regarding the administration of probate or intestate estates is that in which property of mentally or physically incapacitated persons is found to have been significantly depleted through lifetime transfers in the period just prior to death.

The Virginia Supreme Court recently addressed this problem, establishing that where such lifetime transfers benefit persons standing in a confidential relationship to the grantor, a rebuttable presumption of fraud arises so as to protect decedent estates from the depredations by third parties upon whom the decedent relied at the end of life. more

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