| Wills |
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| Basic VocabularyMore... |
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| Constructive Trusts |
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| 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... |
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| When to Revoke a Power of Attorney for Finances |
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| If you execute a power of attorney for finances document, you can revoke or cancel it at any time as long as you are mentally competent to do so. This means that you must understand the consequences of signing the revocation. You probably will not encounter any problems if you revoke a power of attorney that has not been given effect. However, a court proceeding may be necessary if you revoke a springing power of attorney that has been given effect (i.e., doctors have declared you to be incapacitated) and your attorney-in-fact refuses to accept that the revocation is valid.More... |
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| Executors -- Notifying Creditors |
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| When an executor assembles and collects the deceased's assets and liabilities, he will become aware of the outstanding debts. Once he has obtained his letters of authority, his first formal step in settling debts is to notify all of the deceased's creditors who are known to him. But, because there may be creditors of whom he is not aware, he must publish in a newspaper a notice of the probate proceedings and a general invitation to creditors to submit their claims within the state-specified claims period. If he publishes this notice before receiving his letters of authority, it may be considered invalid and thus require republication.More... |
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| Executors - Certificates of Deposit and Listed Securities |
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| 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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