Tag Archives: will executor
Living Wills
In 2004, the living will became an important issue in headline news, when family of Terry Schiavo, who had been in a vegetative state for over a decade, had to make the decision to remove her from life support. She had a will but not a living will to direct others of what to do in such a situation. As this situation clearly depicts, wills are not just for the dead. They are also for the living. This includes not only the declarant of the living will, but also those who must make decisions on behalf of the declarant. This type of will is often overlooked as most people are concerned only with their assets and distribution, but when the Schiavo case had reached headline news in the courts, many people began to realize the importance of living wills. A living will is a legal document that a person uses to make known his or her wishes regarding life prolonging medical treatments. Living wills inform heath care providers and your family about your desires for medical treatment in the event that you are incapacitated or cannot speak. The declarant chooses what type of long-prolonging treatment they wish or do not … Continue reading
Making a Will
Making a will may not be the first thing to do on anyone’s list, and usually ends up becoming a task that everyone leaves for the next day, day after day. Confronting the idea of your impending death is not the easiest thing to do, and because of this, many people have found a way to continually put off making a will. However, death is inevitable. But the chaos surrounding your assets, that might ensue after your death occurs without making a will, is preventable. Putting aside a day or two to sort things out in your mind and put them down on paper will benefit not only you, but your loved ones as well. Making a will is the best way to protect your interests after your death. Approximately 50% of Americans will die without a will and when this occurs, the court will resort to distributing your property according to state laws. Obviously, this is probably not the way that most people would want their assets to be distributed. To avoid making many family members, friends and business associates upset, making a will can ensure that your assets will be distributed as you see fit. Making a will … Continue reading
Executor of a Will
There are many things to consider before you die. One of the most important next to creating your will, is to choose the will executor. This is the person who will bear the burden of all your unsettled accounts, bills and balances that will be left upon your death. You handle a great deal of personal financial matters on a day to day basis and the person whom you entrust the task of will executor to, must be trusted to tie up all the loose ends you will leave behind. It is a duty of immense responsibility. To get a better idea of what type of person you may want to bequeath this title to, it is best to learn a little more about what the executor of a will is expected to do. An executor of a will is the person charged with protecting a deceased person’s property until all debts and taxes have been paid. The will executor is also in charge of seeing that what remains of the estate is transferred to the people who are entitled to it. The duty of the executor of a will requires the highest degree of honesty, impartiality and diligence as … Continue reading