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An executor is the legal personal representative of a deceased person's estate. The appointment of an executor only becomes effective after the death of the testator. After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly.
In the law of inheritance, wills and trusts, a disclaimer of interest (also called a renunciation) is an attempt by a person to renounce their legal right to benefit from an inheritance (either under a will or through intestacy) or through a trust. "If a trustee disclaims an interest in property that otherwise would have become trust property ...
If the children are under 18, or under some other age mentioned in the will (21 and 25 are common), a trust must come into existence until the 'contingency age' is reached. The executor of the will is (usually) the trustee and the children are the beneficiaries. The trustee will have authority to assist the beneficiaries during their minority. [29]
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These can include a corporate trustee that conducts transactions with other trusts in which the entity may also be a trustee, the executor of an estate or other fiduciary. [61] All that would be required is that the transactions appear fair and reasonable to all parties.
Title page to the Code of 1819, formally titled The Revised Code of the Laws of Virginia. The Code of Virginia is the statutory law of the U.S. state of Virginia and consists of the codified legislation of the Virginia General Assembly. The 1950 Code of Virginia is the revision currently in force.
Required content varies, depending on the jurisdiction, but generally includes the following: The testator must clearly identify themselves as the maker of the will, and that a will is being made; this is commonly called "publication" of the will, and is typically satisfied by the words "last will and testament" on the face of the document.
An individual who is a resident of Virginia (or a resident of another state who normally works in Virginia) may become a notary public. They must be at least 18 years of age, have no unpardoned felony convictions, be able to read and write, and fill out an application (which itself must be notarized) which is sent to the Secretary of the Commonwealth. [4]