eHow launches Android app: Get the best of eHow on the go.
Though it's an uncomfortable thing to talk about with a fiance, prenuptial agreements can be very useful documents in today's society. With the divorce rate hovering around 50 percent, many people are taking extra steps to ensure that they won't be cleaned out by a spouse who doesn't contribute equally, at least in terms of money, to... more »
Most elders want to use the assets they have accumulated over the course of their lives for a happy retirement, then leave an inheritance to their family. Long-term health-care costs can swiftly eat up the assets they have earmarked for the satisfaction of these goals, and qualifying for Medicaid is often the only way to pay for... more »
A living trust is a legal document that can serve several different purposes. A living trust can be used to grant property rights to heirs and to reassign such property over time. It can also be used to allow the family or friends of an incapacitated individual to assume control over that person's interests or to avoid traditional... more »
Nothing tears a family apart more than arguments over money. To make sure financial issues never come between you and your relatives, take some steps to ensure a smooth transition of any assets. more »
Probate is the process by which the courts distribute a decedent's assets and property, either under the direction of a will or through intestate succession. more »
Let's face it, many people put off creating wills because it's a subject they'd rather not think...
Planning ahead is always a good idea. Be secure in the knowledge that you are leaving your loved...
Today's low-housing prices translate into savings for potential property investors. Learn from...
That nest egg sure looks tasty about now... But you know better than to crack open your vital...
Your possessions are not only valuable for sentimental reasons, they are also financial assets. Specify how you want your possessions to be... more »
Legacy planning usually refers to your will, living trust, medical directive and a power of attorney as well as any intangibles that you wish to... more »
An irrevocable trust is a trust that cannot be changed or altered after it is set up. With an irrevocable trust, a person gives up ownership of... more »
Living trusts, also called inter vivos trusts, are property arrangements that individuals create while they are alive to benefit their heirs after... more »
A living trust is an estate planning tool that is usually drafted by an estate attorney. Unlike trusts created after death, a living trust is... more »
Inheritance is the practice of passing on property, titles, debts, and obligations upon the death of an individual. It has long played an important role in human societies. The rules of inheritance differ between societies and have changed over time.
Terminology
In common law jurisdictions, an heir is a person who is entitled to receive a share of the decedents property, via the rules of inheritance in the jurisdiction where the decedent died or owned property at the time of death. Strictly speaking, one becomes an heir only upon the death of the decedent. It is improper to speak of the "heir" of a living person, since the exact identity of the persons entitled to inherit are not determined until the time of death. In a case where an individual has such a position that only her/his own death before that of the decedent would prevent the individual from becoming an heir, the individual is called an heir apparent. There is a further concept of jointly inheriting, pending renunciation by all but one, which is called coparceny.
In modern legal use, the terms inheritance and heir refer only to succession of property from a decedent who has died intestate (that is, without a will). It is a common mistake to refer to the recipients of property through a will as heirs when they are properly called beneficiaries, devisees, or legatees.
History
Detailed studies have been made in the Anthropological and sociological customs of patrilineal succession, also known as gavelkind, where only male children can inherit. Some cultures also employ matrilineal succession only passing property along the female line. Other practices include primogeniture, under which all property goes to the eldest child, specifically it is often the eldest son, or ultimogeniture, in which everything is left to the youngest child. Some ancient societies and most modern states employ partible inheritance, under which every child inherits (usually equally). Historically, there read more at » http://en.wikipedia.org/wiki/Inheritance
Connect with people who share your interest by joining one of our Groups:
How to Get Fired Gracefully
How to Stop a Shopaholic
How to Feed Your Neighbor
Info on Caribbean Vacations
Copyright © 1999-2009 eHow, Inc. Use of this web site constitutes acceptance of the eHow Terms of Use and Privacy Policy. en-US Portions of this page are modifications based on work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License.
