| Duties and Powers of a Trustee |
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| A trustee has the duty to take possession of and preserve the trust property, and he must exercise reasonable care and skill in dealing with it.More... |
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| Probate -- Closing the Estate |
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| After all tax matters for the estate are settled and all bills and expenses paid or amounts set aside, the executor may then prepare to distribute what is left to the beneficiaries according to the terms of the deceased's will, or according to the laws of the state if the deceased left no will. If there was a contest and a negotiated settlement, the executor would prepare to make the full distributions required under the settlement. (If there are lawsuits still outstanding against the estate, it is unlikely that distributions will be made until these are settled.)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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| Probate -- Inventory and Payment |
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| Within one to three months (depending on the particular state) after the executor has been appointed, he is required by law to file a "complete" inventory of the estate's assets. The inventory is submitted to the court and, like all other papers submitted to the court, becomes a matter of "public record" (available to anyone who wants to look at it). Briefly, there are two reasons for the filing of the inventory. First, to indicate to the court the items of property for which the executor will later "account" to the court (tell the court in detail what he did with all these items when the estate is settled), and to let the beneficiaries, creditors, and all other interested parties know just what is included in the deceased's probate estate. If the executor delays or refuses to file an inventory, any interested party may ask the court to order him to file one, although if there are no disputes or contests, executors often file their inventories late.More... |
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| Living Wills -- Life-Prolonging Procedures |
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| Your healthcare decisions are likely to be influenced by many factors, including your medical history, your knowledge of other people's experiences, or your religious beliefs. While putting together your living will, you should become familiar with the kinds of medical procedures that are most commonly administered to patients who are seriously ill. Of course, the types of medical procedures that are available change as time passes. Additionally, the treatments that are available vary by region, depending on the sophistication and financing of medical facilities. More... |
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