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Traditionally, letters of administration granted to a representative of a testator's estate are called "letters of administration with the will annexed" or "letters of administration cum testamento annexo" or "c.t.a.". Essentially, this document is issued to the person who will administer the estate of someone who dies without a will.
A testamentary trust (sometimes referred to as a will trust or trust under will) is a trust which arises upon the death of the testator, and which is specified in their will. [1] A will may contain more than one testamentary trust, and may address all or any portion of the estate .
The increased use of trusts in estate planning during the latter half of the 20th century highlighted inconsistencies in how trust law was governed across the United States. In 1993, recognizing the need for a more uniform approach, the Uniform Law Commission (ULC) appointed a study committee chaired by Justice Maurice Hartnett of the Delaware ...
Legacy – testamentary gift of personal property, traditionally of money. Note: historically, a legacy has referred to either a gift of real property or personal property. Legatee – beneficiary of personal property under a will, i.e., a person receiving a legacy. Probate – legal process of settling the estate of a deceased person.
The agreement must be made in a particular form. The agreement must be contractual in effect. (Contrast Goodchild v Goodchild [1997] 1 WLR 1216. [2] and Lewis v Cotton [2001] 2 NZLR [3]) The agreement must be intended to be irrevocable. The surviving party must have intended the will to reflect the agreement.
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the state where the deceased resided at the time of their death.