| Inheritance Without Planning Means No Provisions Beyond the Default Plan |
| 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. When a person dies intestate, there is no adding of provisions beyond the default plan. The default plan is only the default plan and nothing more. This article discusses the disadvantages of descent and distribution related to the inability to add provisions beyond the default plan.More... |
| Testamentary Intent |
| In order to make a will, a person must intend to make a will. A person must have what is known as testamentary intent. The adjective 'testamentary' means related to a will, and is a derivative of the word 'testament'--the Latin word for will. The Latin phrase for testamentary intent is animus testandi, "the intention to make a testament."More... |
| Trust Modification and Termination |
| A court will modify a trust where the trust's leading purpose is frustrated by a specific directive made by the trustor.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... |
| Trusts, Public and Private - I |
| An express trust is either public or private. A public trust, also known as a charitable trust, is an express trust created for a charitable purpose. If an express trust is not a charitable trust, it is deemed to be a private trust. A private trust is an express trust created to benefit a few persons. This article discusses some aspects of public and private trusts.More... |
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