| An Overview of Personal Representatives |
| In most instances, when a person dies owning property of any real value, it is necessary to appoint someone to administer the estate. That person (it could be one or several persons, a bank or trust company, or both) who acts for, or "stands in the shoes of," the deceased is called the personal representative. The duties and responsibilities of the personal representative, and even the title of the personal representative, may change depending on the state laws and circumstances involved, but the need for such a person (or persons) is shared by all.More... |
| Constructive Trusts |
| Trusts are sometimes classified by the intent, if any, of the settlor to create a trust. This article discusses the kind of trust for which the settlor's intent is irrelevant: the constructive trust.More... |
| Trust Elements - Beneficiary |
| A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary.More... |
| Failing to Make and Leave a Will |
| Although estimates vary, it's pretty safe to say that more than 50 percent of the people who could make and leave a will fail to do so. More... |
| Executors - Certificates of Deposit and Listed Securities |
| It is especially important when dealing with certificates of deposit to be aware of the maturity dates and the terms of the certificates. Often when a certificate matures, the executor needs to take steps to change the investment, or else it is automatically rolled over into a new certificate or placed in a low-interest savings account. On the other hand, there is no necessity for the executor immediately to cash in certificates in the decedent's name that are paying an attractive rate of interest. More... |
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