Wills
The instrument which allows a person, also known as a testator, to determine the rights that others will have over his or her property or family after the testator's death. A will can also be used in a trust.
After a testator's death, the will must be submitted to a probate court which has jurisdiction of the testator's estate. An estate consists of the testator's tangible assets of real and personal property. The proceedings will determine if the will is valid and if it has satisfied the legal requirements. It will also appoint the executor.
Types of property:
- Real Property - Real Estate
- Personal Property - Other Physical Possessions
If the will is determined to be invalid, it will be treated as though it was never created. Then inheritance will take place under the intestacy law. Inheritance is the passing on of property, titles, debts, and obligations after a testator's death.
When a testator dies without creating a valid will and owes property greater than the total of their enforceable debts and funeral expenses, the condition of the estate is known as intestacy. Intestacy law, also known as the law of descent and distribution, is part of the common law that determines who has the rights to the testator's property under the rules of inheritance.
Is time for peace of mind? Time to prepare or update your will? Do you have questions about wills? We can help you, Contact Us.
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