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A Statement of Assets, Liabilities, and Net Worth (SALN) [1] [2] is an annual document that all de jure government workers in the Philippines, whether regular or temporary, must complete and submit attesting under oath to their total assets and liabilities, including businesses and financial interests, that make up their net worth. [3]
Related to the health care power of attorney is a separate document known as an advance health care directive, also called a "living will". A living will is a written statement of a person's health care and medical wishes but does not appoint another person to make health care decisions. Depending upon the jurisdiction, a health care power of ...
Image source: Getty Images. 1. You don't have to go through the probate process. When it's time for a will to be executed, it goes through a process called "probate." During probate, a court ...
The nice thing about a living trust is that it isn't subject to probate. So it's worth considering one if you happen to own properties in different parts of the country. 2.
Liability – for necessities, (1) the item contracted for must be necessary for minor's existence, (2) the value must be up to that of the current standard of living or financial/social status (not excessive in value), (3) the minor must not be under the care of a parent/guardian who is required to supply the item. A minor could be held liable ...
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In other words, it's a trust created by a person during his life (as opposed to a testamentary trust, which is a trust he or she provides for in a will, and which is created only upon death). A living trust, an inter vivos trust, can be either revocable or irrevocable during the life time of the creator (the grantor, settlor, trustor). Some ...
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