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3 ways to avoid complications and probate after you die. It can be tough to think about our own death. But taking action ahead of time can be a gift to your mourning family, who is left to pick up ...
Probate is a legal process that verifies the validity of a deceased person’s will. This includes addressing debts and distributing remaining assets. If you die without a will or a living trust ...
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
A person attempting to determine the law in a particular state should check the code as actually adopted in that jurisdiction and not rely on the text of the UPC as promulgated by NCCUSL. In general, the UPC has not been as successful a standardization of the law as the Uniform Commercial Code has been.
The first step after a loved one’s death is to tell important friends and relatives. While not technically a financial step, it’s a necessary one, and it can help avoid financial snafus down ...
The name is derived from Matter of Totten, 179 N.Y. 112 (1904), the case decided by the New York Court of Appeals which established the legality of this practice. Although this method of creating a trust did not meet the formal requirements of trust creation, or the testamentary formalities required to make a valid will, the Court noted that such an arrangement typically involved a small ...
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the jurisdiction where the deceased resided at the time of their death.
The testator is the person who makes the will and the person on whose behalf an executor acts during probate. If the executor of a will passes away before the testator, then a new one can be named.