I prepare Wills for my clients who wish them but I also do some small estate planning where Wills arent really as necessary. The short answer is LAWS OF INTESTATE SUCCESSION detemine who takes what n what shares if the decedent dies intestate and if that just happens to be the same ones they wish to take (would leave by Will) alls fine butttttttttttt if they wish to distribute their property otherwise, BEST HAVE A VALID WILL........ And, of course theres all that Trust and Living Trust (revocable and non revocable) can of worms we can delve into
Other lil tidbits, one can disinherit a child BUT NOT a spouse cuz they can elect to take against the will.........A living person has no heirs...........As one grows old there is a good argument its better if they own near to nothing..........and I advise certain clients (depends on situation n their desires) to reduce what will be their "estate" to near zero by means of inter vivos transfers which withstand Medicare scrutiny (if thats possible lol)
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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