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Estate Story Excerpts
The Great Stork Derby
Charles Vance Millar was a lawyer from Toronto with quite the reputation of being a practical joker. Millar who died on October 31, 1926 was never married and didn't have any close relatives. He was forced to get creative with his last will and testament, and that he did. Distant relatives fought his will in court for ten years but Millar had prepared carefully and they lost. In the[...]
12 Steps to Estate Planning Checklist
1. Make a Will:When making a will, it is important to state who you want to inherit your property. This is where you will name a guardian to care for children in the event that something has happened to you and the other parent.2. Consider a trust:To avoid the hassles of probate court, which is a time-consuming and expensive process, it is recommended to make a living trust for property[...]
Circumstances Addressed by Statutory Wills
A statutory will comes into play when:1. The person has no previous will before becoming incompetent, and intestacy will produce an undesirable result or a result the person would not have wanted.2. A pre-existing will was revoked by marriage or divorce and the person is unable to make a new one due to testamentary incapacity, resulting in an undesirable affect that the testator would[...]
What is Probate?
Probate is the legal process of administering the estate of a deceased person. All claims should be resolved and the person's property distributed under the valid will.A court will need to decide if the will is valid. Probate makes sure that the instructions of the deceased are followed, decides the executor as the personal representative of the estate, and makes a formal judgement in[...]
Dos and Don'ts when Filming a Video Will
Video taping a will is often considered an alternative means of preventing a will from being contested in court. It shows that the testator is of sound mind when he or she bequeaths their estate and assets and generally shows the testator signing the will to further validate its authenticity.However, not all states recognize video wills as valid, so it is important to understand the[...]
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