| Executors -- Settling the Assets |
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| As executor, your first step in settling the decedent's estate is to find all of the decedent's assets. You must then figure out which assets belonged solely to the decedent so that you can protect them until they can be distributed either according to the decedent's will or state intestacy laws. Finding such assets can be a challenge.More... |
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| Trusts Classified |
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| Trusts are commonly classifed in two ways. The first way is by the duties of the trustee. The second way is by the intent, if any, of the settlor to create a trust. This article discusses generally these two ways of classifying a trust.More... |
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| Distribution Provisions |
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| A very common and valuable provision seen in most family trusts and invariably in dynasty trusts is the spray or sprinkle provision. Where there is more than one beneficiary, this provision allows the trustee to distribute (spray) the income and/or principal among the beneficiaries in varying proportions as the trustee feels appropriate, having in mind their individual needs and circumstances from time to time. In other words, the trustee need not make equal distributions among the beneficiaries, but instead can vary the distributions according to their particular needs, which undoubtedly is exactly what the grantors would do were they alive.More... |
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| What is a Trust? |
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| A trust is related to "trust" in the ordinary sense of relying on another. A trust is a formal arrangement for property management, in the manner of an owner, by another. The management of the property is according to the original owner's directions.More... |
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| Will Contests -- Lack of Testamentary Capacity, Improper Execution, Bogus Will |
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| You cannot contest a will simply because you don't like the provisions, or because you received less than you felt you should have received, or because the provisions were, in your opinion, unfair. You must have legal grounds, which, if supported by the evidence, would cause the will to be rejected by the Probate Court. More... |
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