| Executors -- Steps Prior to Opening the Estate |
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| The terms "executor," "administrator," and " personal representative" are all synonyms for someone who is legally responsible for managing the estate of a person who has died. The position of executor may be filled by a specific person named in the decedent's will or, if the decedent did not make a will, by someone whose relationship with the decedent makes him the legally responsible party (i.e., parent or spouse). The position can be refused. More... |
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| Inheritance Without Planning Means No Person Is In Control |
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| When a person dies intestate (without making and leaving a will), each state provides a default plan (usually known as the statute of descent and distribution) under with his or her net estate is disposed. Under the default plan, no person is put in control of the disposition. The disposition must go according to the defaul plan. This article discusses the disadvantages of descent and distribution related to that inability to have a person put in control of the disposition. More... |
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| Per Capita and Per Stirpes |
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| Suppose that an intestate is survived by three children and no grandchildren. Who inherits the intestate's net estate? How much does each person get? For most people, the answer is easy and obvious. Each child takes one-third of the intestate's net estate. More... |
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| Co-Ownership Myths - II |
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| One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a tenancy in common and a joint tenancy with right of survivorship. Many people do not understand what a tenancy by the entirety is or was. More... |
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| Guardianship or Conservatorship, Generally |
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| Most people have legal control over themselves and their property. They are able to act on their own behalf. But when a living person is unable to protect or care for himself or herself, or for his or her property, because of old age, illness, or other disability, the law of guardianship (or conservatorship) permits the appointment of a competent person to protect and care for the incompetent person and/or manage the incompetent person's property. More... |
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