Living Will

A last will or testament is a document by which a person arranges for the distribution of his or her property and possessions after her death. Family members have the legal rights to property of a person but a person’s will is always respected whether he wants to leave his money to them or some acquaintance in Timbuktu. The will and testament regulates others’ rights over one’s property and family after one’s death.

When a person dies, a probate proceeding is initiated to take care of his property. The will usually names an executor - a person assigned the task of carrying out the provisions of the will. If not an executor is named by the probate court. In some States of U.S., if the person (Testator) has died with a proper will, probate proceedings are not required. But in most states such legal proceedings are required to settle the property especially in case of intestacy (La...

Thinking about your death is not pleasant, but preparing your family for the circumstances of your possible demise is a wise act. The will is a document that prepares a person and his family for the inevitable eventuality of his death.

You would want to make a perfect will primarily because you want your precious wealth to be inherited by your chosen near and dear ones. You can also determine the legal guardians for your children in case of a mishap. You can ensure that your will is tax efficient and can name an executer who ensures the application of the will.

There are some basic considerations while making your will. Your will must be made at a substantially younger age, before you become senile and unfit and people can trick you. A will must always be dated, as a new one always cancels an older one. A will should be simple, precise and clear.

The will must be sig...

A will is a legal document that divides your property among beneficiaries – like your spouse and children - and decides the fate of your assets. There are free packages for creating wills available in the market.

The person making the will is called the testator and those receiving any items from the will are called beneficiaries. When testator creates a will, he also names an executor who ensures the smooth implementation of the will on his demise.

Any adult citizen (over the age of 18) of sound mind can draft his will. Drafting a will is a simple process but, becomes more complicated the more assets and more property you possess. In such a case you would require the services of a lawyer to draft a will.

Drafting wills are manipulated as they are future bread and butter of lawyers. The lawyers often offer free last will and testament packages. But when they draft th...

A will is a precious document that determines the distribution of a person’s assets to individuals on his demise - according to his choice and in a legally approved fashion. The beneficiaries of a will are usually those who fall in the law of descent from spouse, to children and then their descendants. But a person is also free to leave his money to anybody he likes – he can leave his property to charity, a sizeable sum to his faithful butler, and not a penny to the family. But his legal heirs may not like this.

Thus there is scope for legal wrangling and contesting of the wills of certain people. Beneficiaries may not like the size of their share. Others may be left out of the list of beneficiaries. Whatever the reason, many wills are subject to contesting, especially when they involve large estates and millions of dollars are at stake.

A will contest is a formal objectio...

The laws of each state specify conditions for writing a last will and testament. Under old common law there used to be a separate writing disposing of real property (real estate) called ‘testament’, and a separate writing disposing of all other property called ‘will’. Hence the archaic phrase ‘last will and testament’.

Because wills are documents to survive after their testators, the laws are very strict as to what should be or not be regarded as wills, as well as their proper implementation. Take the example of Alabama. The state stipulates that the maker of the will must be above 18 years of age. He must be of sound mind and he must be free from improper influences. As to how a will must be made it is stated that the will must be written, must be signed, and witnessed in a special manner provided by the Law. A person can change his will as many times as he pleases either by ex...

This article gives an outline of the legal requirements involved in the probate process. Probate is the judicial process whereby property of a dead person is transferred according to either the decedent's will or laws of intestate succession.

Once a person dies, probate is to be undertaken so that his properties are transferred to other people. If there is a will, its authenticity should be proved in court and the will validated by the court. The death certificate and the will should be presented to the court with prescribed fees, for review and appointment of the personal representative to handle the will. The application must be signed by the applicant in the presence of a notary public.

The court should be convinced that the decedent was of sound mental capability when he wrote the will, that the will is up to date and that it was written without any pressure and in fro...

Probate court is the office where all probate issues are handled. The probate court handles all matters of probate, right from admitting the petition for probate until issuing the order for transfer of property to heirs and beneficiaries.

In most states probate courts function exclusively. [In some states such as Massachusetts, Probate and Family Courts function as one unit with two compartments; Probate and Family Courts take up additional issues such as birth and death, marriage, domestic violence, child abuse, adoption, separation and divorce, maintenance etc].

A typical probate court has a presiding Judge, a supervisor and a few clerical employees.

Let us have a look at the main functions of the probate court.

The court receives the "Petition for letters of administration" if there is no will, and "Petition for Probate of Will and Letters Testamentary" oth...

All important documents which are used in the probate process are known as probate records. The first category of records relate to personal properties which are to be submitted to the court.

The will should state what assets are involved, who are the beneficiaries, who will be the personal representative, guardian for minor children less than 18 years old, someone to manage children’s’ property [if the heirs are minors or young adults], signature of witnesses, signature of self and endorsement by the notary.

Courts and law firms give out prescribed forms for writing a will. Today, there are not only printed books, but also e-books, CDs and computer software, all available for developing a will. Software is a bit more expensive than book versions. [All these versions come within an approximate price range of US$25 to 50].

The next important document is proof of ass...

Probate research is, in a sense, a study about family trees. Genealogists and historians are particularly apt to undergo probate research. Probate records give immensely invaluable information to them.

Researchers locate the places where the individuals in the family tree died. Sometimes the names of places are changed over time, or places themselves are located in a different state or country than where it used to be. For example, Eritrea, which is an independent country today, used to be part of Ethiopia. Within the US, some parts of Lincoln County which were in Maine in the 18th century are now parts of Kennebec, Waldo, Washington, Hancock, Androscoggin, Sagadahoc and Knox counties.

Researchers also seek out the exact location of the probate court governing the concern in which they are interested. The Internet and telephones are very useful in this.

Then they ...

In this article we’ll see who can sell the assets of the decadent and how it is done.

Suppose the decedent solely owned all properties himself. There are two possible situations that we can consider.

The first situation is one in which there is more than one heir. In this situation, the property has to be shared. Unless the heirs or beneficiaries are homogeneous in their attitude or live in geographically nearby places from each other, this sharing becomes a problem. In this case the assets need to be sold and the proceeds disbursed to the heirs and beneficiaries.

The second situation is one in which the decedent passed away without paying taxes or owed some money to creditors. In these circumstance too, the assets have to be sold, payments on taxes and to creditors paid before disbursing the proceeds to the heirs and beneficiaries.

Whatever be the circumst...

Probate can take anywhere from a few months to several years. It's expensive. Court fees and attorney's fees can come to around 5% of the estate's value. Hence, it is always better to avoid probate. There are possibilities to do this well within legal limits.

The first possibility is to set up a living trust and name someone (a close friend or a relative) to be the trustee and to manage all his properties. When the person dies, the trustee pays the descendant's debts, taxes and all other expenses, and then distributes the balance of the property to the beneficiaries.

A living trust retains the privacy of the decedent and his heirs, and averts part of the estate tax, which is not possible if the properties are probate. One popular form of living trust is the revocable trust. As the term suggests, the trust can be revoked at any time by the person who sets it up.

A...

Probate is a legal process in which the authenticity of a will is proved; total properties identified, inventoried and appraised; taxes and debts paid; and the remaining properties distributed. The term "probate" is derived from the Latin word "probare," which means "to prove."

Suppose all of a person’s property, sometimes known as “assets”, were in that person’s name. The term “assets” includes real property (lands and houses), tangible personal property (jewelry, vehicles, etc.), and intangible personal property (stocks and shares, bank accounts, etc.) Normally a person’s spouse and children will inherit his assets after proving to the court that they are legal heirs. They do this by submitting the marriage and birth/adoption certificates. But they can claim full control of the assets only if the assets are validated by any court of law. For this, they need to submit the deat...

A will is a legal document telling your heirs what they get. An ethical will isn’t a legal document, but directs your heirs with stories to hopefully lead them to a better life. Short stories of your life that teach lessons on how and where you got your money. Don’t leave a list for them to read. If you have trouble writing, you can record your stories. This works well for children.

Giving all your money and possessions to your kids may be their assumption, but you might want to consider these issues. First, make sure your heirs will have enough money to live on. If you then want to give to a charity, explain your wishes to your kids. Better still, get them involved in the charity so they’ll see why you are interested. If they don’t, then you’ll know you made the right decision.

There are a couple if popular types of trusts you can set up for your charitable donat...

In the same vein as a siding recall, a siding lawsuit is a far more aggressive way of dealing with improper manufacturing of siding made with synthetic materials. Instead of a product recall being prompted by the manufacturer’s awareness of the faulty product, or in some cases lack of awareness, a legal representative is hired on behalf of the consumers who have purchased the product to file suit against the manufacturer. A siding lawsuit that is “class action” in nature pertains to a large number of consumers owning the faulty siding. It such cases a siding lawsuit of this magnitude may result in the manufacturer compensating the consumer with a monetary sum to make up for any health, or safety issues and the replacement of the faulty siding.

Like any lawsuit over a bad product, a siding lawsuit would not merely impact consumers on a small scale, but those on a large, even nati...

Benjamin Franklin famously said, “In this world, nothing is certain but death and taxes.”

Unfortunately, you can’t avoid death. But a carefully-drafted estate plan can help avoid taxes, family conflicts and a lot of unnecessary heartache. The following provides a general overview of the estate planning process, and what to expect.

Why do I need an Estate Plan?

Many of us spend our earthly lives accumulating assets which, unfortunately, upon our death, will not go with us. The top 2 reasons for having an estate plan:

1. So you can transfer your wealth to your chosen heirs, in your chosen manner;

2. So you can plan for and effectively limit the taxation of your estate;

What if I don’t have an Estate Plan?

If you die “intestate” (which is without a will) or without an estate plan, lots of things can happen, such as:

1. Intestate Success...

A will is a written document which gives instructions how and to whom the will maker (testator) wants to bequeath his/her property after death. An oral will can be made only by members of military and merchant navy in active service when they don’t have time to execute a written will due to exceptional conditions like war.

Any person above 18 with sound mental health can make a will. It must be dated and signed by the testator and certain number of witnesses, depending on the laws of the state. A hand written will, called ‘holographic will’, valid in 25 states, does not require witnesses.

Though preparing a basic will is very simple many people neglect to prepare one thinking that the end is far away. Should a catastrophe strike a court will decide how the property will be distributed.

The right time to prepare a will is when you are in full control of all your menta...

A living will is not about who inherits your stocks and bonds when you die and it doesn’t designate who gets the family home or your mother’s jewelry. What a living will does is establish your wishes about what happens to you should you become terminally ill or permanently incapacitated. A living will is a binding set of advanced medical directives that dictates whether you will be kept alive via life support devices, or whether and when to pull the plug on those devices. Having a living will in place means that you make your final decisions rather than depending on your relatives or the state to make them. It can save turmoil and confusion over what you might have wanted, and it can spare your children or other heirs from having to make judgments they would rather not have to make.

What happens when you cannot speak for yourself? If you have not explicitly left instruction...

A living will is a legal document, which lets a patient decide whether or not to be kept on artificial life support. Often, these documents also appoint someone to take important health care decisions on behalf of the patient. A living will could be a very broad or a narrow document, prepared according to the wishes of the patient. The will is a living declaration of people’s wishes when they meet with serious accident or ailments. It is primarily directed to medical personnel about the type of care the patient wishes to have, or wishes not to have, under situations of terminal illness.

The document commonly includes the kinds of medical procedures that are usually administered to patients who are seriously ill. These may include transfusions of blood and blood products, cardiopulmonary resuscitation, diagnostic tests, dialysis, administration of drugs and surgeries.

The ...

A will provides information about the transfer of property, ornaments or land, from the testator to his beneficiaries, after his death. Everyone, regardless of age, needs a will. Without a will people wouldn’t know where their assets would go. Writing a will is one of the most important things an individual can do in his or her lifetime. There are intestacy laws for those who do not make a will. But it is wise that the transfer of property be made in accordance with the deceased's wishes, as expressed in the will. A high proportion of adults own assets in the form of houses, cars, shares and insurance policies.

A person who makes a will is called a testator. Testators have the option of framing their own will or engage the services of an attorney. Prior to framing a will, a testator’s objectives must be clear. An inventory of assets helps in estimating outstanding debts. A li...

A will is a legal document that is written to guarantee that the money and belongings of the testator are left to people or organizations desired by him. Without a will, the estate can be subject to many problems. Relatives may also dispute over property, leading to lengthy court proceedings.

In the eyes of law, a will or testament is a document by which a person or the testator regulates the rights of others over his property or family after death. In a strict sense, a will is a general term, while testament applies only to dispositions of personal property. A will is also used as the instrument in a trust.

A traditional will is also called a last will and testament, or a testamentary will. It is a legally binding document that defines how the testator would like his property distributed when he dies. It may also define his wishes concerning who becomes guardian over his ...