Property left after someone dies is called the 'estate' and this is distributed (after the any outstanding bills, the cost of the funeral and any taxes due are settled) to the heirs as set out in the dead person's will by the executor(s) appointed in the will. If there is no will then the property is distributed as the laws of your country set out.
Yes. If a testator makes a will devising real property to a beneficiary but then transfers that property by deed while still living, the property is not part of their estate when they die and the gift in the will has no effect.
A will is a legal document that outlines how a person's assets and belongings should be distributed after their death. Something that can be left in a will includes specific gifts to family members or friends, instructions on how to distribute money or property, and appointing a guardian for any minors or dependents.
If the property is owned jointly, you can leave your portion of the property or your portion of the ownership to someone.
Any property that was transferred to a trust during life is not owned by the decedent after their death. That is the whole point behind trusts. The trust owns the property. A Will can only distribute property owned by the decedent at the time of their death. If your mother left you certain property in her Will but had transferred it to a trust during her life then that property is gone. It cannot pass by her Will. A trust cannot "void" a Will. An "asset" protection trust is intended to protect assets from creditors, the government and would be heirs.
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Inheritance tax is the tax on property and goods left behind at death.
You cannot inherit property from an estate which no longer owns that property.
Inheritance tax is the tax on property and goods left behind at death.
No. If you die intestate (without a Will) every jurisdiction has laws that govern the distribution of a decent's property after their death. You can make your own decisions by making a Will. If you don't, the government will distribute your property among your heirs at law according to the laws of intestacy.
No. The purpose of a Will is to distribute the testator's property after death. A Will, if properly drafted, becomes operative upon the death of the testator. It must be submitted to probate court for allowance and the testator's property will be distributed as set forth in the Will after the debts of the estate have been paid.
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