Search results
Results from the WOW.Com Content Network
The modern view is that where a beneficiary was intended to inherit part of the residuary estate who predeceases the testator, and that beneficiary is not covered by the anti-lapse statute, then that beneficiary's inheritance will return to the residuary estate, to be inherited by the other beneficiaries to whom the residue has been willed.
The year 2020 marks the centennial of the passage of the Nineteenth Amendment, as well as the 150th anniversary of the first women voting in Utah, which was the first state in the nation where women cast a ballot. [143] An annual celebration of the passage of the Nineteenth Amendment, known as Women's Equality Day, began on August 26, 1973. [144]
You cannot name a legal minor as a beneficiary. This applies to almost all legal documents, most notably wills and life insurance policies. The significant exception to this rule is trusts.
Estate planning may involve a will, trusts, beneficiary designations, powers of appointment, property ownership (for example, joint tenancy with rights of survivorship, tenancy in common, tenancy by the entirety), gifts, and powers of attorney (specifically a durable financial power of attorney and a durable medical power of attorney).
For premium support please call: 800-290-4726
The integration of retirement planning and estate planning forms a robust financial strategy addressing your financial concerns during your lifetime and the legacy for your heirs.
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. Residuary estate - the portion of an estate remaining after the payment of expenses and the distribution of specific bequests; this passes to the residuary legatees.
The estate tax is part of the federal unified gift and estate tax in the United States. The other part of the system, the gift tax, applies to transfers of property during a person's life. In addition to the federal government, 12 states tax the estate of the deceased.