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What is the difference between a will and a living will?
A will is a document that transfers a person's property to others upon his/her death. This is called a testamentary document. It has no effect to transfer property until the testator dies. A living trust is a document that creates a fund of property, which is administered by the trustee for the benefit of other persons but with certain restrictions or directions on how the fund is to be used. This is called an inter vivos document because it is effective to transfer property during the person's lifetime.
What is the difference between a living will and a living trust?
A will is a document that transfers a person's property to others upon his/her death. This is called a testamentary document. It has no effect to transfer property until the testator dies. A living trust is a document that creates a fund of property, which is administered by the trustee for the benefit of other persons but with certain restrictions or directions on how the fund is to be used. This is called an inter vivos document because it is effective to transfer property during the person's lifetime.
Does right to survivorship transfer the property if one dies?
When two people own property by right of survivorship and one dies the interest of the decedent disappears and the survivor becomes the sole owner of the property.
What is the name of the person who effects the transfer of real property when a person dies?
When a person dies the court must appoint a person with authority to settle the estate. The real property can then be transferred by the executor of the Will or the court appointed administrator of the estate if the decedent died intestate (without a Will). Generally, the executor may have granted the authority to sell the property in the Will. Otherwise the executor must obtain a license to sell from the court. If the decedent had no Will then the court must appoint an administrator who must obtain a license to sell the real estate from the court. In some jurisdictions the person appointed by the court is called a personal representative or estate representative.
Who owns a deceased persons property who has no heir?
When a person with no next-of-kin dies owning property, their property 'escheats' to the state.
Does property go to et al if named person dies?
Normally, yes, when there is no will.
If a person is separated and dies before he gets divorced with a will does the wife have a right to his property?
Yes
If a person dies intestate in Pennsylvania and owns property in Virginia which states laws govern?
Generally, the laws of the state where the property is located apply. If a person who lives in New York dies intestate owning real property in Massachusetts then Massachusetts laws of intestacy would govern the distribution of the property.
What is a person who dies for a great cause called?
A martyr
When a person dies no will what happens?
Each state has a section of law known as "intestacy law" which governs how property will be disposed of when a person dies without a will. Normally, it is first distributed among relatives.
What are the laws for an estate?
In the US when a person dies with no living next of kin their property escheats to the state.
What happens to estates when there are no heirs?
When a person dies and has no heirs or next of kin their property "escheats" to the state.
