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As an executor, you can be held liable if you make distributions too soon before taxes or creditors are paid. Adhere strictly to the timeline that the law enforces. Your lawyer can help you with this.
Though it has been thought a "will" historically applied only to real property, while "testament" applied only to personal property (thus giving rise to the popular title of the document as "last will and testament"), records show the terms have been used interchangeably. [1] Thus, the word "will" validly applies to both personal and real property.
The amount of money required to probate a will can vary by state. It’s common, however, for the cost to range anywhere from 3% to 8% of the estate’s value. In terms of what’s involved, the ...
A codicil is a testamentary or supplementary document similar but not necessarily identical to a will.The purpose of a codicil can differ across jurisdictions.It may serve to amend, rather than replace, a previously executed will, serve as an alternative or replacement to a will, or in some instances have no recognized distinction between it and a will.
The Ohio officer and justices' guide : embracing the duties of justices of the peace, constables, and other township officers : including officers acting under the school law, with appropriate forms : also, directions and forms for executors, administrators & guardians, with treatises on the law of partnership and bailment, and the duties and ...
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