The Natural Objects of One's Bounty - II

This article is the second part of a three-part series describing the traditional names for the various members of one's family.

Per Capita and Per Stirpes

Suppose that an intestate is survived by three children and no grandchildren. Who inherits the intestate's net estate? How much does each person get? For most people, the answer is easy and obvious. Each child takes one-third of the intestate's net estate.

Resulting Trusts

Trusts are sometimes classified by the intent, if any, of the settlor to create a trust. This article discusses the kind of trust for which the settlor's intent is implied: the resulting trust.

Executors -- Steps Prior to Opening the Estate

The terms "executor," "administrator," and " personal representative" are all synonyms for someone who is legally responsible for managing the estate of a person who has died. The position of executor may be filled by a specific person named in the decedent's will or, if the decedent did not make a will, by someone whose relationship with the decedent makes him the legally responsible party (i.e., parent or spouse). The position can be refused.

Inheritance Without Planning Means No Adding to the Default Plan

When a person dies intestate (without making and leaving a will), each state provides a default plan (usually known as the statute of descent and distribution) under which his or her net estate is disposed. When a person dies intestate, there is no adding to the default plan. The default plan is the only plan. This article discusses the disadvantages of descent and distribution related to the inability to add to the default plan.