| What is a Trust? |
|
| 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... |
|
|
| Inheritance Without Planning Means No Person Is In Control |
|
| 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... |
|
|
| Codicils |
|
| In Latin, the word "codicil" means "little will. A codicil is a formal document that amends the provisions of a will. The amendments may change, modify, or supplement the provisions of a will. More... |
|
|
| Letters of Instruction |
|
| Your will should not mention each one of your possessions because their value and nature change as time goes on. Revising your will upon every change would be both inconvenient and costly. Instead, your will should use general language in addressing the disposal of your possessions. However, it is important that you keep an updated record of all your possessions in order to assist your survivors. More... |
|
|
| Guardianship or Conservatorship, Generally |
|
| 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... |
|
|