What is Intestacy and How are Heirs Designated?

When people decide to not draft an estate plan, the rules of intestacy apply to the decedent’s estate. Most Americans pass away intestate, which means without a valid will. The decedent’s property passes to heirs which are determined by statutory rules, which establishes a default estate plan.  The interesting part about the intestacy rules is …

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What is Disclaimer?

A beneficiary of an estate has the ability to refuse to accept or inherit by executing a “Disclaimer.” Under UPC Section 2-1106(b)(3), “a person who disclaims is treated as having predeceased the decedent for the purposes of distributing the decedent’s estate.” A disclaimer may be of all or a portion of the property being left …

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Three Ways to Manage Property on Behalf of an Incapacitated Person

This article will continue our discussion from last week concerning an incapacitated individual. As was explained in the last blog post, an incapacitated individual is defined as “a person that cannot make a decision for himself/herself.” Normally a doctor will have to rule an individual as incapacitated. Now I will expand on the three primary …

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