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To: skr

While alive, people have the choice of preparing a will of their own, including creating a trust to assume management of designated assets of the deceased. The following is a simplified explanation.

When an individual does not have a personal will prepared that dictates how the net worth and particular assets of the deceased are to be distributed, then they have the “will” that the state legislature has written for those who do not, for whatever reason, taken the time to personally put a will in their own handwriting or have an attorney prepare the will for them.

The individual states have prepared their state will for deceased folks, citizens, who have not prepared their own will, to make sure that TAXES are paid, that DEBT is paid and that the LEGITIMATE HEIRS receive their proper share of the distributed estate after taxes and debt is paid by the ADMINISTRATOR of the estate.

So, people have a choice as to how their stuff can be distributed upon their demise. They can arrange to have their own personal will or have the state legislature prepared will executed on their behalf. It’s that way in al 57 states. BOH said so...grin...

What choice have YOU made? Your own will or the one prepared by your state legislature? It is one or the other for all of us. Mrs. Franklin’s estate will be disposed of in accordance with the will of the state. After taxes and debt are paid, her legal heirs will receive their legal share of what is left. A simplified explanation...

No one dies without a will... you have your own or the one written for you by your state legislature. Take your choice...


9 posted on 08/22/2018 12:58:57 AM PDT by LaMudBug
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To: LaMudBug

without a will you have to prepare statements of disclosure of the deceased’s assets to submit and go through probate.

You have to obtain the signatures (notarized) of other people (relatives, spouses, and decedents) who may be able to file claim to all or a portion of the estate.

A friend of mine lost both brothers in the span of a couple of years and twice had to go through probate. He then helped guide a friend of his in similar circumstance through the paperwork and process.


14 posted on 08/22/2018 3:23:43 AM PDT by a fool in paradise
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