| Inheritance Without Planning Means No Adding to the Default Plan |
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| 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 to the default plan. The default plan is the only plan. This article discusses the disadvantages of descent and distribution related to the inability to add to the default plan.More... |
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| Limited Inheritance in Unusual Circumstances |
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| State statutes of descent and distribution are usually supplemented by other statutes or court rulings that limit or prohibit inheritance in unusual circumstances. This article discusses some of those unusual circumstances.More... |
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| Trusts, Public and Private - III |
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| 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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| Gifts During Life - I |
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| An intentional transfer of property made from the generosity of the transferor is known as a gift. The person who makes a gift is known as the donor. The person who receives a gift is known as the donee.More... |
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| How to Revoke a Power of Attorney for Finances |
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| To revoke a power of attorney for finances, you can either destroy all copies of the document or execute a notice of revocation. Execution has a few technical requirements that must be complied with before revocation can be regarded as legally valid and it is the preferred method because it generates proof of revocation.More... |
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