| Estate-Tax Valuation -- Other Assets |
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| Life insurance on the decedent that is received by or for the benefit of the estate is taxed in the estate. (Note that many state death taxes do not require inclusion, or provide special partial exclusions for life insurance proceeds.) The amount should be the amount received by the beneficiary, including any dividends and premium refunds paid to the beneficiary.More... |
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| Failing to Make and Leave a Will |
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| Although estimates vary, it's pretty safe to say that more than 50 percent of the people who could make and leave a will fail to do so. More... |
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| Will Formalities |
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| The body of a will is where is where the testator directs the disposition of his or her estate. This article discusses the clauses before the body of the will and the clauses and signature lines after the body of the will, that are necessary to comply with the customs and requirements--the formalities--for the making of a will.More... |
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| Executors -- Informal Transfer Procedures |
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| If the decedent died intestate (without a will), you have absolute freedom to select an attorney to help administer the estate. If the decedent died testate {with a valid will), you typically have the same flexibility, even if the testator specifically mentioned in the will that she wanted you to employ a particular attorney; this, under the law of most states, usually is considered merely a suggestion and is not binding. Since the attorney is an essential part of the estate administrative team, many executors prefer to have an individual with whom they can work effectively. Whether the attorney is the one selected by the decedent or one selected by you, his services are vital to the successful handling of many estates.More... |
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| Will Contests -- Undue Influence |
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| When someone influences a testator to make out his will and leave his property in a manner that he would not have done were it not for the influence, then the will is the result of "undue influence" and is invalid. Almost every would-be beneficiary who is left out of a will thinks he has a case of undue influence against another beneficiary who is suddenly named to receive most or all of the estate. This seems to happen very often, for instance, where children are omitted in favor of a new spouse. Unfortunately, undue influence is extremely difficult to prove, as it is usually done subtly, over a period of time, and there is no specific act or incident that clearly reveals it. Therefore, it must almost always be shown by circumstantial evidence. (Here's an example of circumstantial evidence: You checked your mailbox and found some mail. Then you noticed prints in the snow of exactly the type of boot your mailman wears in the winter. Although you didn't actually see the mailman deliver the mail, the circumstances strongly indicate that he delivered it.)More... |
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Gazebo-Village Green, Canfield
