Most everyone should
have a will. It is the only way a person is relatively
sure all of his assets and earthly possessions are distributed
in accordance with his wishes.
One of the more important aspects of drawing up a will
is the appointment of an executor. If this person is
not the surviving spouse, he or she should be someone
who you have the utmost confidence in and a person who
will use good sound judgement in his decision making.
As times change and happenings take place in one's
life, a will should periodically be reviewed to determine
if your original desires still exist.
In many states if a husband or wife does not leave
a will, the survivor receives one third of the estate
and the children are entitled to two thirds.
If there is a will, the deceased is said to have died
testate. The executor named in the will must file the
will with the Probate or Surrogate court within the
time prescribed by statute, and proceed with the distribution
of the assets of the estate according to the provisions
the deceased has prescribed.
If there is no will but there are assets, the deceased
is said to have died intestate. This involves the appointment
of an administrator by the Surrogate judge and the assets
of the estate are distributed according to the State
Statute of Descent.
In both situations it is recommended that the services
of a competent attorney be used, as well as when an
original will is drafted.
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