Before going to court, it is necessary to have standing to be involved in the case as one of the first prerequisites of success. Every classification of legal proceeding has its own requirements as to standing.
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It is not uncommon for a parent to disinherit a child. This is usually done pro forma when leaving an entire estate to a surviving spouse. Parents with younger children generally disinherit them in order to insure that their spouses are left with sufficient assets to raise the kids to adulthood. Adult children are often disinherited in favor of a surviving parent to insure that their parents will have sufficient resources to see them through retirement.
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Probate is the procedure which determines whether or not a will was properly drawn and executed and is the genuine instrument setting forth the wishes and directions of its maker for the disposition of his or her property. In spite of a flood of books and articles constantly demonizing probate and offering us a myriad of ways to avoid it, probate helps to insure that your plans for the disposition of your estate will, in fact, be honored after your death.
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A fiduciary holds assets on behalf of another. Examples of fiduciaries include trustees as well as executors and administrators of estates.Also, a person holding a power of attorney may be a fiduciary. Fiduciaries are held to an extremely high standard of conduct and may be subject to severe penalties should they not adhere to it.
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Real estate, bank accounts, stocks, bonds and collectibles are examples of the wide array of property which we accumulate as we go through life. A will is little more than a formalized set of written instructions as to what is to be done with our possessions after we die. The law wants to see property distributed in the way its owner wished and will accommodate those wishes whenever possible.
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Trusts are among the most versitile tools your lawyer has to assist you in protecting your assets and in making provisions for your loved ones. There are many different kinds of trusts which may be employed to suit a variety of family and financial circumstances.
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The human body is an imperfect machine subject to breakdown as it gets older. We know that we have to eat properly and stay in shape with plenty of exercise in order to minimize the effects of injuries or illnesses even if we can’t prevent them outright.
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