| Co-Ownership Myths - III |
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| 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 tenancy in common and a joint tenancy with right of survivorship. Many people do not understand what a tenancy by the entirety is or was. Many people do not understand the differences between the common law forms of co-ownership and community property. More... |
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| Guardianship or Conservatorship, Generally |
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| Most people have legal control over themselves and their property. They are able to act on their own behalf. But when a living person is unable to protect or care for himself or herself, or for his or her property, because of old age, illness, or other disability, the law of guardianship (or conservatorship) permits the appointment of a competent person to protect and care for the incompetent person and/or manage the incompetent person's property. More... |
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| The Body of a Will |
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| Most of the formalities of a will come at the beginning of the will and at the end of the will. The initial clauses usually announce the intention of the testator to make a will. The closing clauses usually indicate that the will has been signed and witnessed as required. In between the initial clauses and the closing clauses is the body of a will. The body of the will is where the testator directs the disposition of his or her estate. More... |
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| Revoking a Will, Methods |
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| As a general rule, a will can be changed or cancelled at any time before the testator's death. A will may be revoked (i.e., recalled or cancelled). This article discusses methods for revoking a will. More... |
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| Trust Elements - Trust Property - I |
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| A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary. More... |
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