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Co-Ownership Myths - III

Co-Ownership Myths - III

One of the most confusing aspects of estate planning is the numerous myths about co-ownership of property. Many people do not understand the differences between a...

Letters of Instruction

Your will should not mention each one of your possessions because their value and nature change as time goes on. Revising your will upon every change would be both inconvenient and costly. Instead, your will should use general language in...

Special Conditions in a Will

As a general rule, a devise, a bequest, a legacy, or a trust in a will may benefit any person or legal entity. One major limitation is that is that a devise, a bequest, a legacy, or a trust in a will may not benefit a person or...

Will Substitutes

Revocable Living Trust

In many jurisdictions, trusts cannot be revoked unless the trustor expressly retains the right to revoke. Revocable living trusts allow a trustor to manage his assets, to plan for his...

Descent and Distribution, Generally

Descent and Distribution, Generally

Traditionally, a state statute of descent and distribution provides the order of preference for disposal of an intestate's net estate. As a general rule, the...