Are You An Executor Of An Estate?
Posted on April 3, 2008 - Filed Under Legal and Law | Leave a Comment
An executor is the person responsible for managing the administration of a deceased individual’s estate. Obligations can vary from state to state and the size of the estate can determine the responsibilities that will be needed.
The executor is either named in the will and if no will is left, the courts can name an executor.
The time necessary to complete an estate will be determined by the size of the estate and the location of the assets left in the state. An executor may be required to perform some or all of the duties listed below. :
Is It Too Late To Create Your Living Trust?
Posted on March 22, 2008 - Filed Under Legal and Law | Leave a Comment
For many years now, financial and estate planners have been advocating to their clients the advantages of establishing a living trust as the best method of ensuring that their property is protected and that it can be passed on intact to the next generation.
A living trust, which can be established to be revocable or irrevocable, can be created at anytime during a person’s adult lifetime. All that is basically required is to draw up a trust directing how the assets (usually property) will be managed.
Read More..>>The Basic Use Of A Living Trust
Posted on February 18, 2008 - Filed Under Legal and Law | Leave a Comment
Estate planning is a tricky concept, but one you have to tackle. The living trust is a key component of most estate planning efforts.
The idea of a Trust began back in the 16th century in England as a way to circumvent the control of the King over property after death. The King had the right to distribute a person’s property after his death and people worried that their estates would not be distributed to their heirs by the King. They would deed their property to another entity, usually the Church, in return for the promise that the Church would distribute it to their heirs according to their wishes. In other words, they were trusting the Church to look out after their interests after their death.
Read More..>>Why Should I Write A Will?
Posted on February 7, 2008 - Filed Under Legal and Law | Leave a Comment
If you die without a Will (and statistics suggest that about 70% of UK citizens either have no Will, or that the Will they have is out of date or inadequate) those you leave behind will have a difficult time of it! A bereavement brings with it enough emotional and practical problems of its own to have financial and legal ones added to it.
Read More..>>Types Of Estate Planning Documents
Posted on February 4, 2008 - Filed Under Legal and Law | Leave a Comment
You may have heard some of the terms, Last Will and Testament, Living Will, Power of Attorney, but are not exactly sure what they are or whether you need them. From an Estate Planning perspective, these documents are essential to ensure that your assets are distributed properly and your legal interests are protected.
Read More..>>Hazardous Trees And The Duty To Inspect
Posted on January 17, 2008 - Filed Under Legal and Law | Leave a Comment
Trees can be a nuisance.
Common Law recognizes two types of nuisance: public nuisance and private nuisance. A public nuisance is defined as an unlawful act or omission, which endangers the safety or comfort of the public. Examples of public nuisance include obstructing a highway, keeping a common gaming house or selling unwholesome provisions. On the other hand, there are two types of private nuisance. The first involves any wrongful disturbance of an easement or other right in respect of land. The second, by far the most common, involves the act of wrongfully causing or allowing the escape of injurious things onto another person’s land such as, for example, water, smoke, smells, fumes, gas, noise, heat, electricity, vibrations, animals and vegetation.
Read More..>>A Contract To Enter Into A Contract Is Unenforceable
Posted on January 15, 2008 - Filed Under Legal and Law | Leave a Comment
Real Estate, by its own very nature, is all black and white - you either do things, or you don’t.
There is no grey area in Real Estate, which one can find otherwise in commerce and trade. For instance, letter of intents that are widely used prior and during negotiations between corporations or between individuals and corporations have no place whatsoever in the world of real estate, where the only subject matter of trade is the exchange of titled interests in land for money. One cannot stipulate today to contract out in the future and hope the stipulation will be upheld, unless such an agreement is contained in a contract drafted and accepted today and is in the form of an option.
Read More..>>Have Your Parents Planned Their Estate For Your Protection?
Posted on January 9, 2008 - Filed Under Legal and Law | Leave a Comment
When your parents die, you are the one who will be responsible for taking care of everything they leave behind. My dad died a couple of years ago and even though my stepmom was still living, ensuring that his estate was administered properly was my responsibility. There are steps you can take today to make sure that it will be as easy for you as possible and that what you inherit will be as protected as possible. Avoid these three mistakes.
Read More..>>