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    • Will and testament - Wikipedia
      • Testator – person who executes or signs a will; that is, the person whose will it is. The antiquated English term of Testatrix was used to refer to a female. Trustee – a person who has the duty under a will trust to ensure that the rights of the beneficiaries are upheld.
      en.wikipedia.org/wiki/Will_and_testament
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    What does testator mean?

    What do the words testator and testatrix mean?

    What is the plural of testator?

  2. What is Testator? A person who makes a will. While the term rarely comes up in casual conversation, it is still used in legal parlance; however, 'personal representative' is the favored term. Related Wills Trusts And Estates Terms. Bond; Death Certificate; Per Stirpes; Nuncupative Will; Closing Statement of Personal Representative

  3. Feb 16, 2017 · Testator defined and explained with examples. A testator is a person who creates a will intended to distribute his assets after his death.

  4. Wills & Trusts. Definition: An orderly plan made to disperse one’s property after their passing. Estate Planning Terminology ... Testator/Testatrix

    • Will vs. Trust: What's The difference?
    • Wills
    • Trusts
    • Special Considerations
    • Key Differences Between Wills and Trusts
    • Wills and Trusts FAQs
    • The Bottom Line

    Wills and trusts are both estate planning tools that can help ensure your assets are protected and bequeathed to your heirs, besides your spouse, which is generally not an issue. This is because the unlimited marital deduction provision within the United States Estate and Gift Tax Law allows the passing of wealth to a surviving spouse without incurring gift or estate tax liabilities.1 However, the transfer process becomes much more involved when wealth is passed to a subsequent generation. It is possible to have both a will and a trust. A will is a written document expressing a deceased person's wishes, from naming guardians of minor children to bequeathing objects and cash assets to friends, relatives, or charities. A will becomes active only after one's death. A trust is active the day you create it, and a grantor may list the distribution of assets before their death in it, unlike a will. There are irrevocable trusts, often created for tax purposes, which cannot be altered after...

    The most common type of will is called a testamentary will. It is a legally enforceable document stating how you want your affairs handled and assets distributed after you die. It can also include a directive of how you want your funeral or memorial held. A will is an important component of estate planning, and a number of online will makersoffer tools for generating legal forms and documents. Experts suggest seeking legal counsel from an attorney that can take into account your individual estate-planning needs. This is what you can find in a will: a list of assets and debts, including any family heirlooms, the contents of safe deposit boxes, property, and vehicles. You can leave your possessions to heirs, friends, or charities. A will can be effective in an estate transfer and other legal proceedings after death, but there are drawbacks that you should be aware of. Your estate will become part of the public record, for example, and anything left by a will must go through probate co...

    A trustis another method of estate transfer—a fiduciary relationship in which you give another party authority to handle your assets for the benefit of a third party, your beneficiaries. A trust can be created for a variety of functions, and there are many types of trusts. Overall, however, there are two categories: living and testamentary. A will can be used to create a testamentary trust. You can also create a trust for the primary purpose of avoiding probate court, called a revocable living trust.

    Trusts Could Keep Your Heirs Out of Probate Court

    One-stop you should try to avoid on the estate-transfer train is probate court. This is where your heirs could spend months sorting out your estate if your transfer plans are not efficiently laid out. You could easily lose an additional 2-4% of your estate due to attorney fees and court costs. 4 Probate court is the judicial system section responsible for settling wills, trusts, conservatorships, and guardianships. After death, this court might examine your testamentary will, which is a lega...

    Wills and trusts are both important estate-planning tools, but they differ in important ways. First, a trust is activated when the grantor signs it. A will does not go into effect until the testator. Upon your death, your will goes through probate, and a trust does not. A will is where you name guardianship of any minor children, plus share any funeral or memorial plans or requests.

    What is Better, a Will, or a Trust?

    A trust will streamline the process of transferring an estate after you die while avoiding a lengthy and potentially costly period of probate. However, if you have minor children, creating a will that names a guardian is critical to protecting both the minors and any inheritance. Deciding between a will or a trust is a personal choice, and some experts recommend having both. A will is typically less expensive and easier to set up than a trust, an expensive and often complex legal document.

    Do You Need Both a Trust and a Will?

    Nearly everyone should have a will, but not everyone most likely needs a living or irrevocable trust. If you have property and assets to place in a trust and have minor children, having both estate-planning vehicles might make sense.

    Does a Will Override a Living Trust?

    A will and a living trust are two separate legal documents. One doesn't usually trump another, but if the issue arises, a living trust will most likely override a will because a trust is its own entity.5

    It is important to settle your affairs earlier rather than later in life. A will or a trust, or both, can ensure your assets and possessions end up where you want them to go. If you have minor children, you should absolutely make a will to name guardianship. A trust will streamline your estate's transfer, unlike a will, which goes through probate. Making an estate plan a prioritynow can save money and precious time later, and help your loved ones avoid potential financial hardship.

  5. TESTATOR. One who has made a testament or will. 2. In general, all persons may be testators. But to this rule there are various exceptions. First, persons who are deprived of understanding cannot make wills; idiots, lunatics and infants, are among this class.

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  2. Take out the guesswork with The Investor's Guide to Estate Planning for $500k+ portfolios. From Fisher Investments, 40+ years managing money and helping thousands of families.

  3. We Know Your Family & Assets Are Important To You. A Last Will Can Help You Protect Both. Formalize A Plan For What Happens After You Pass. We Make The Process Easy. Don't Delay.

  4. Prepare a Last Will and Testament customized to your needs. Fast and Easy. No Hidden Subscription to cancel. 1 Million customers served.

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