Trust Elements - Trust Property - I

A trust has five main elements. First, a settlor transfers some or all of his or her property. Second, the property transferred by the settlor is designated trust property. Third, the trust property designated by the settlor is transferred with the settlor's intent that it be managed by another. Fourth, the trust property designated by the settlor is transferred for management by a trustee. Fifth, the trust property designated by the settlor is managed by a trustee for the benefit of a beneficiary.

Handwritten and Oral Wills

Today, the standard method of making a will is the formal witnessed written will, sometimes called an attested will. However, today's formal witnessed will has roots in other methods of making a will. The first wills in medieval England were the oral wills recognized by church-related courts. Some states permit one or more of the historic methods of making a will. This article discusses handwritten and orals wills. Contact your lawyer to learn if these methods of will making are permitted in your state.

Spousal Election

One of the main purposes for making and leaving a will is to guide the administration of the estate of the testator--the person who made the will. A will should be written in language that is clear and indisputable. Alas, the language in a will may be unclear or vague. This article discusses the protection of the testator's surviving spouse from complete disinheritance.

Wills - The Writing Requirement

A written will is obviously required to be in writing. What the writing requirement really means is that the medium a will is written in must be sufficiently permanent. The medium must be permanent enough to provide a reliable record of the testator's testamentary desires for the probate court.

Probate --Beginning the Process

When a person dies, the first thing that must be done concerning distribution of his property is to determine whether he left a will. In most cases, the spouse or children will know or have an idea that there was or was not a will. If not, a search of the deceased's papers and safe-deposit box may offer some leads. If the deceased had a lawyer or saw one before his death, the lawyer should be asked if he has any knowledge of a will.