That depends on whether Padme wants the elective share. Poor Leia, sucks for her.
OMG I do not know how many stocks? Why not 1000? Was the will properly witnessed and signed? Is there an affidavit self-proving clause? Is there a codicil?
Ahh, you have not yet covered accessions and accretions. The will itself is perfectly legitimate. And Padme died in Episode III, which is a good few decades before our good buddy Vader kicks it, leaving her completely out of the picture.
Your answer is correct in regards to the majority rule, which treats stock dividends the same as if they were cash dividends.
The UPC (& the Restatement 3rd) allows Luke to keep all 1100 shares, since the 100 shares were acquired strictly as a result of the ownership of the original 1000 shares. These folks treat stock dividends the same way as they treat stock splits.
We didn't talk at all about stocks! We're on incorporation of stuffs like codicils and unwritten papers right now. OMG you know more than I do. THIS IS NOT POSSIBLE. And I refuse to admit that Padme died. REFUSE! Mrs.Kenobi and I decided that it was way too stupid of a way to die :)
You guys are learning majority rule/UPC? We are only discussing it in the realm of our state, which can be quite backwards. That is super smart about the 1,100 shares b/c of the 100 shares coming as the result of ownership. But we didn't talk about stocks yet!
Your case is particularly interesting, because you acquired your house with Mark before you were married, so you don't get to benefit from something known as "tenancy by the entirety," which is particularly nice because individual creditors of you or Mark would not be able to go after the house.
But since you were not married, I assume you guys are actually joint tenants with the right of survivorship, which means that if one of you dies, the other one gets the house. BUT creditors can go after your individual "half" of the house.
If, for some reason, you guys are classified as tenants in common (I doubt it, but it's theoretically possible, it probably says one way or the other on your documents), if either you or Mark died, and died intestate (without a will), under North Carolina law, the surviving spouse and the surviving parents would split any real property 50-50. So, if you died, Mark would end up with 75% of the house and your dad would have 25% of it.
Yeah, I dont think it necessarily does here, either, but I am just hoping that they had a lawyer who was competent enough to understand their situation and would include that language in the instrument.
I was just so happy to find out the joy that is tenancy in the entirety applies to my house! And in Michigan it applies to bank accounts!
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OMG I do not know how many stocks? Why not 1000? Was the will properly witnessed and signed? Is there an affidavit self-proving clause? Is there a codicil?
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Your answer is correct in regards to the majority rule, which treats stock dividends the same as if they were cash dividends.
The UPC (& the Restatement 3rd) allows Luke to keep all 1100 shares, since the 100 shares were acquired strictly as a result of the ownership of the original 1000 shares. These folks treat stock dividends the same way as they treat stock splits.
Yay law school :-p.
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You guys are learning majority rule/UPC? We are only discussing it in the realm of our state, which can be quite backwards. That is super smart about the 1,100 shares b/c of the 100 shares coming as the result of ownership. But we didn't talk about stocks yet!
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I love having lawyer friends :)
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But since you were not married, I assume you guys are actually joint tenants with the right of survivorship, which means that if one of you dies, the other one gets the house. BUT creditors can go after your individual "half" of the house.
If, for some reason, you guys are classified as tenants in common (I doubt it, but it's theoretically possible, it probably says one way or the other on your documents), if either you or Mark died, and died intestate (without a will), under North Carolina law, the surviving spouse and the surviving parents would split any real property 50-50. So, if you died, Mark would end up with 75% of the house and your dad would have 25% of it.
The more you know...
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I was just so happy to find out the joy that is tenancy in the entirety applies to my house! And in Michigan it applies to bank accounts!
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But why settle for one naked french kissing whore when you can obtain an army of naked french kissing whores?
The force is strong in him, after all, if you know what i mean...
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