| Trust Elements - Trust Property - II |
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| A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary.More... |
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| Probate -- Notice and Appointment |
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| In most states, after the petition for probate is filed, the Probate Court will order that notice of the petition be given to the heirs and other "interested" parties (those who may not be heirs but who may be named in the will) and, in some cases, that "publication" must be made. Publication is the placing of legal notice in the local newspaper to the effect that John Jinx, a resident of Boston, Massachusetts, has died and a petition has been submitted to the court asking that Jane Jinx be appointed as the executrix (or administratrix if there was no will) of his estate.More... |
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| Executors |
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| The executor must state the name and domicile of the decedent, as well as the year that domicile was established. Also the executor must state the decedent's date of death and Social Security number and the name, address, and Social Security number of the estate's executor. Similar information must be given for the estate's attorney. Further general information is requested such as the decedent's business or occupation and marital status. It requires a breakdown of the estate to show how much of it was (or is to be) received by the spouse or other heirs. This is to ascertain the estate-tax marital deduction.More... |
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| Protection of the Immediate Family |
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| One of the main purposes for making and leaving a will is to guide the administration of the estate of the testator--the person who made the will. A will should be written in language that is clear and indisputable. Alas, the language in a will may be unclear or vague. This article discusses will interpretation doctrines designed to protect the testator's immediate family from mistakes, or apparent mistakes, by the testator.More... |
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| Will Contests -- Lack of Testamentary Capacity, Improper Execution, Bogus Will |
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| You cannot contest a will simply because you don't like the provisions, or because you received less than you felt you should have received, or because the provisions were, in your opinion, unfair. You must have legal grounds, which, if supported by the evidence, would cause the will to be rejected by the Probate Court. More... |
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