Terminating your rights under a will for the better statutory provisions Why would you renounce a will? If there is a Will, the surviving spouse can renounce it and the inheritance it contains (if any), and instead elect to take a share of the estate specifically provided by state law. This is a legal device originally intended for… Continue reading Renouncing a Will
Category: Financial
The Basics of a Life Estate
When a person has a “life estate” in a piece of property (most commonly, a house and the contents within it), he/she enjoys almost the same rights in that property as would an “absolute” owner – but only for his/her life. The idea of a life estate is best illustrated with a typical example, the “subsequent marriage”… Continue reading The Basics of a Life Estate
How Does a Last Will and Testament Treat Simultaneous Death
Last will and testament and legal considerations How does a will and the law treat an estate when both people die at the same time? The answer, of course, depends on whether any planning has been done. The most important planning, however, is practical, not legal. First, have you found a capable and willing guardian… Continue reading How Does a Last Will and Testament Treat Simultaneous Death