eng
competition

Text Practice Mode

english typing

created Mar 19th 2017, 04:16 by tarundeepSINGH


7


Rating

297 words
92 completed
00:00
Would get half of your estate, and any children you have would divide the other half equally. Next in line for inheritance would be grandchildren, followed by parents, brothers and sisters and other relatives of the deceased. In the event that a person dies intestate and there no heirs who can be traced, the property of the decreased goes to the state. Often the complexities of probate are such that only potential pitfalls by drafting a valid will. In order to be valid, a will must be in written form. An audio tape or video recording will not sufficient. The will must also be sighed by the person making the will and by two or, in some states, three competent witnesses. The maker of the will must also be competent, not insane, senile or mentally impaired. Other matters that should be included in a will are the names of all beneficiaries, what you wish to leave to them and who would receive the property if they should predecease you. A guardian should also be named for any minor children you may have, if your spouse does not survive you. The same person or another guardian can be named in the will to manage the children's inherited property. Most importantly, an executor should be named who will list the assets of the decreased and carry out the directives of the will. For any trusts created by a will, the will should name trustees whose responsibilities it will be to administer the trusts. Also recommended is the name of a residuary legatee who will receive that portion of the estate that is left after all bequests of specific property items have been made. This portion is frequently the largest and those who get it are the ones the deceased.

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