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Rules governing nonprobate transfers, such as joint bank accounts, life insurance policies, and transfer-on-death (TOD) securities: 7 Trust Administration: Provisions governing management of trusts; fiduciary duties of trustees. The provisions of Article 7 have been superseded by the Uniform Trust Code.
While the probate process is governed by state law, each county may have different procedures and customs. [3] An ancillary administrator is the personal representative who handles the property in the other state under ancillary administration. [2] Most major court systems will have forms and checklists for ancillary administrators to use. [4]
The final text of the Uniform Trust Code (UTC) was approved by the ULC commissioners in August 2000. The American Bar Association's House of Delegates officially endorsed the UTC in February 2001. The following months saw the finalization of detailed interpretive comments in April 2001 and minor clean-up revisions in August 2001. [ 2 ]
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.
The Florida Statutes are the codified, statutory laws of Florida; it currently has 49 titles. A chapter in the Florida Statutes represents all relevant statutory laws on a particular subject. [1] The statutes are the selected reproduction of the portions of each session law, which are published in the Laws of Florida, that have general ...
Administration durante absentia, when the executor or administrator is out of the jurisdiction for more than a year. Administration pendente lite, where there is a dispute as to the person entitled to probate or a general grant of letters the court appoints an administrator till the question has been decided. [3]