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These are often referred to as "letters testamentary", "letters of administration" or "letters of representation", as the case may be. These documents, with the appropriate death certificate , are often the only license a person needs to do the banking, stock trading, real estate transactions, and other actions necessary to marshal and dispose ...
Bequest – testamentary gift of personal property, traditionally other than money. Codicil – (1) amendment to a will; (2) a will that modifies or partially revokes an existing or earlier will. Decedent – the deceased (U.S. term) Demonstrative Legacy – a gift of a specific sum of money with a direction that is to be paid out of a ...
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.
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.
The court does this by granting letters of administration to the person so entitled. Grants of administration may be either general (where the deceased has died intestate) or limited. [1] The order in which the court will make general grants of letters follows the sequence: The surviving spouse, or civil partner, as the case may be; The next of ...
A testamentary trust provides a way for assets devolving to minor children to be protected until the children are capable of fending for themselves; [3] A testamentary trust has low upfront costs, usually only the cost of preparing the will in such a way as to address the trust, and the fees involved in dealing with the judicial system during probate.
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