This is a court-appointed process of reviewing your estate and making sure that your last will doesn't violate any laws regarding how property is distributed.
A last will acts as a guide for the probate court, so the court knows what your wishes are.
Specific gifts, which leave a particular object or dollar amount to a particular person, are optional, but are generally the first items of property that are distributed from a last will.
A specific gift might read: "I leave to my daughter, Cynthia, my engagement ring." A general gift is a share of the property that remains after specific gifts are made.
As he questions the victim\u2019s nearest and dearest, DI Reardon discovers there are several longstanding secrets lurking amongst the Llewellyn clan \u2013 and he is convinced that not everyone is telling him the truth, or at least not the whole truth.
Question: What are the employees’ heirs’ responsibilities if he dies, and there is a “successors-and-assigns clause?
The personal representative whom you nominate in your last will (known as the "executor") is responsible for dividing up the gifts and ensuring that your wishes are carried out.
Note that there are certain types of property and accounts that are typically not distributed through a last will.
Pay-on-Death Bank Accounts: If your bank account has a designated beneficiary upon death, then that person will generally become the owner of the account after the passing of the depositor.
Real Estate Held in Joint Tenancy or Community Property with Right of Survivorship: If the deed to your real estate indicates that title is held in "joint tenancy" or as "community property with right of survivorship," it means that two co-owners hold identical interests in the property at the same time.