Generally, an individual draws up a will that explains the testator's intentions for the distribution of their estate upon their death. A person who receives assets through inheritance is called abeneficiary. How Estates Are Managed In almost all cases, estates are divided among members of the d...
A living will does not have anything to do with the transfer of assets upon death. Also known as a healthcare directive, this legal document allows an individual (while they are alive and mentally capable) to empower another person to make decisions about their medical care if the person sig...
Distribution ASSETS FOR SALE. But Who Will Buy? (cover story)Presents updates on the consolidation in the chemical distribution sector as of November 6, 2002. Factors which hinder distributors from signing merger and acquisition deals; Failure of Vopak firm in maximizing synergies between its ...
The purpose and goal of answering that question is to find the best course of action to deal with the foreign assets after the death of the testator. In the inquiry case, the client wants to find out how his China properties will be handled properly and easily. So let us first look at...
Dying without a will in Texas is known as dying intestate. Dying intestate in Texas means that youdo not have control over what happens to your estateafter your death. Your specific wishes for your estate will not be considered. Instead, if you die without a will, your estate will likely ...
If at the time of my death, or at any later time before full distribution of any Trust established under Article SIXTH, all my issue are deceased, and no other disposition of the property is directed by this Will, the estate or the portion of it then remaining shall there upon be distri...
Where the trust is created on death, the personal representative must first complete the administration of the deceased’s estate. This usually involves obtaining probate and paying any inheritance tax. The personal representative will then deal with the collection of assets and payment of liabil...
In reality, much of the answer to these questions about the distribution of intestate property depends upon where you permanently reside and which of your family members are living at the time of your death, as these will determine which intestacy laws will apply in order to determine the prope...
Probate or voluntary probate is one that is because when a person gave his testament, and in this designated or determined who or who will be owners of their property after his death; thus conveying ownership of all assets, rights and obligations that will not become extinct when he dies. ...
At this time, procedures related to the content of the will will be executed accordingly and the process will enter the stage of property distribution of the will. Step4. The testamentary heir brings the death certificate to the court to apply for the contents of the will. When the court ...