| Executors - Federal Estate-Tax Return |
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| An executor must complete and file Form 706 - United States Estate and Generation-Skipping Transfer Tax Return - if the size of the estate exceeds a specified amount ($600,000 in 1997, increasing in steps to $1,000,000 in 2006). More... |
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| Conservatorship Proceedings |
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| A durable power of attorney for finances is an inexpensive legal document that allows you to name someone to make your financial decisions if you become unable to do so yourself. The main reason to make a durable power of attorney for finances is to avoid court proceedings if you become incapacitated. If you do not have a durable power of attorney, your loved ones will have to ask a court to give them authority over your financial affairs. This procedure is usually called a conservatorship proceeding. Different states have different terms for the person appointed to manage your finances, including conservator, guardian of the estate, committee, and curator.More... |
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| Testamentary Intent |
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| In order to make a will, a person must intend to make a will. A person must have what is known as testamentary intent. The adjective 'testamentary' means related to a will, and is a derivative of the word 'testament'--the Latin word for will. The Latin phrase for testamentary intent is animus testandi, "the intention to make a testament."More... |
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| Basic Vocabulary and Execution |
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| A will is a legal document that explains where a person wants or does not want his property to go after his death. A will becomes effective upon death and until then, it can be revoked or amended. If a person dies without a will, a court will determine where his property goes according to state law.
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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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