FAQ Friday: Terms in a Last Will and Testament

On Friday, November 18th, Mr. Berger describes the various terms you will come across in a Will.

Usually a Trust comes first and a pour-over Will comes next. A personal representative handles your property, files taxes etc.

Ancillary administration means for example if you open your Will in Maryland, but have property in Delaware then the documents will be completed differently so that your administration is effective in both states.

GST exemptions-generation skipping tax. How much can you pass on without paying. QTIP is how you can pass property to your spouse.

A constructive Trust is made by the Court and is usually held until the issue is resolved. A testator is whom made the Will. A testatrix was the historically female term for testator. However, today we use the same term for both.

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