Wills

What happens if I die without a will?

If you don't make a will or use some other legal method to transfer your property when you die, state law will determine what happens to your property. This process is called "intestate succession." Your property will be distributed to your spouse and children or, if you have neither, to other relatives according to a statutory formula. If no relatives can be found to inherit your property, it will go into your state's coffers*. Also, in the absence of a will, a court will determine who will care for your young children and their property if the other parent is unavailable or unfit.

Do I need a lawyer to make my will?

Probably not. Making a will rarely involves complicated legal rules, and most people can draft their own will with the aid of a good self-help book or software program. You just need to know what you own, whom you care about, and have a good self help resource to guide you.

/ don't have much property. Can't I just make a handwritten will?

Handwritten wills, called "holographic" wills, are legal in about 25 states. To be valid, a holographic will must be written, dated and signed in the handwriting of the person making the will. Some states allow you to use a fill-in-the-blanks form if the rest of the will is handwritten and the will is properly dated and signed.

If you have very little property, and you want to make just a few specific bequests, a holographic will is better than nothing if it's valid in your state. But generally, we don't recommend them. Unlike regular wills, holographic wills are not usually witnessed, so if your will goes before a probate court, the court may be unusually strict when examining it to be sure it's legitimate. It's better to take a little extra time to write a will that will easily pass muster when the time comes.

What makes a will legal?

Any adult of sound mind is entitled to make a will. Beyond that, there are just a few technical requirements:

• The will must be typewritten or computer generated (unless it is a valid handwritten will, as discussed above).

• The document must expressly state that it's your will.

• You must date and sign the will.

• The will must be signed by at least two, or in some states, three, witnesses. They must watch you sign the will, though they don't need to read it. Your witnesses must be people who won't inherit anything under the will.

You don't have to have your will notarized. In many states, though, if you and your witnesses sign an affidavit (sworn statement) before a notary public, you can help simplify the court procedures required to prove the validity of the will after you die.

Do I need to file my will with a court or in public records somewhere?

No. A will doesn't need to be recorded or filed with any government agency, although it can be in a few states. Just keep your will in a safe, accessible place and be sure the person in charge of winding up* your affairs (your executor) knows where it is.

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Comments:

it will go into your state's coffers - (имущество) отойдет в пользу вашего штата to wind up - улаживать, разрешать (вопрос), заниматься (делами)

Find in the text English equivalents of the following phrases:

завещание

составить завещание - 1

составить завещание - 2

собственноручно составленное завещание

наследование при отсутствии завещания

получить что-то по завещанию

подписывать в качестве свидетеля

суд по делам о завещаниях и наследствах

проверка

пройти проверку

WILL- подберите к английским клише соответствующие русские сочетания

acknowledgment of will	волеизъявление; заявление о составлении завещания
to administer to a will	взаимное завещание (супругов)
autograph will	опекун по завещанию
bad will	завещание, могущее стать предметом судебного спора
declaration of will	оспариваемое завещание
disputable will	завещание, не имеющее законной силы
disputed will	официальное признание подлинности завещания завещателем под присягой
reciprocal will	управлять наследством (в качестве душеприказчика)
guardian appointed by will	собственноручно написанное завещание

Say whether the following statements are TRUE, FALSE or INCOMPLETE. In case of FALSE or INCOMPLETE statements give the correct version.

1. If there is nobody to inherit a deceased person's property, the state takes it.

2. It's the court that determines who should care for the deceased person's children and their property.

3. One can draft his/her will without the aid of a lawyer.

4. Handwritten wills are as valid in the USA as typewritten wills.

5. Handwritten wills are not recommended because they are not usually witnessed.

6. To be valid a will must be dated and signed by the will maker.

7. Witnesses who sign the will inherit part of the property.

8. A will doesn't require notarization.

Answer the following questions:

1. What is intestate succession?

2. What does one need to draft a will?

3. What does a handwritten (holographic) will need in order to be valid?

4. Why are handwritten wills not recommended?

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Can I use my will to name somebody to care for my young children, in case my spouse and I both die suddenly?

Yes. If both parents of a child die while the child is still a minor, another adult—called a "personal guardian"--must step in. You and the child's other parent can use your wills to nominate someone to fill this position. To avert conflicts, you should each name the same person. If a guardian is needed, a judge will appoint your nominee as long as he or she agrees that it is in the best interest of your children. The personal guardian will be responsible for raising your children until they become legal adults.

Can I leave property to young children in my will?

Children under 18 can inherit property—but if it's anything valuable, an adult must manage it for them. You can use your will to name someone to manage property you leave to minors, thus avoiding the need for a more complicated court-appointed guardianship. There are many ways to structure a property management arrangement. Here are four of the simplest and most useful:

Name a custodian under the Uniform Transfers to Minors Act.

In every state except South Carolina and Vermont, you can choose someone, called a custodian, to manage property you are leaving to a child. If you die when the child is under the age set by your state's law—18 in a few states, 21 in most, 25 in several others—the custodian will step in to manage the property until the child reaches the age specified by your state's law. To set up a custodianship, all you need to do is name a custodian and the property you're leaving to a young person. You can do this in your will or living trust. For example, your will might state, "I leave $10,000 to Michael Stein, as custodian for Ashley Farben under the Illinois Uniform Transfers to Minors Act." That would be enough to create the custodianship.

Set up trust for each child.

You can use your will to name someone (called a trustee), who will handle any property the child inherits until the child reaches the age you specify. Generally, the trustee can spend trust money for the young person's health, education, and living expenses. When the child reaches the age you specified, the trustee ends the trust and gives whatever is left of the trust property to the child. Serving as a trustee is more work than is serving as a custodian under the UTMA. For one thing, a trustee must file annual income tax returns for the trust. And because the powers of a trustee are limited to what's allowed in the will or other document authorizing the trust, the trustee may have to show the will (or at least the part of it that outlines the trustee's authority) to banks and others with whom he or she deals. The powers of an UTMA custodian, however, are set out by state statute. Most banks and other institutions are familiar with them and know what authority custodians have.

Set up a "pot trust" for your children.

If you have more than one child, you may want to set up just one trust for all of them. This arrangement is usually called a pot trust. In your will, you establish the trust and appoint a trustee, who will have the power to dole out trust money to each of the children. The trustee doesn't have to spend the same amount on each child; instead, the trustee decides what each child needs. When the youngest child reaches a certain age, usually 18, the trust ends. A pot trust provides great flexibility for the trustee. Its major drawback is that the older children can't receive their shares of the trust property until the youngest child turns 18; they may not get control over their inheritance until they are well into adulthood*.

Name a property guardian.

If you wish, you can simply use your will to name a property guardian for your child. Then, if at your death your child needs the guardian, the court will appoint the person you choose. The property guardian will manage whatever property the child inherits, from you or others, if there's no other mechanism (a trust, for example) to handle it.

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Comments:

until they are well into adulthood - пока они давно не станут взрослыми

Find in the text English equivalents of the following phrases:

опекун, попечитель - 1

опекун, попечитель - 2

опека, попечительство

опекунство

доверительная собственность, опека (над имуществом и т. п.)

назначить опеку над имуществом

прекратить опеку над имуществом

общая доверительная собственность

доверительный собственник

налоговая декларация

подавать налоговую декларацию

WILL - подберите к английским клише соответствующие русские сочетания

lapsed will	утвержденное завещание
nominative will	завещание, являющееся предметом судебного спора
notarial will	отказаться от причитающегося по завещанию
nuncupative will	устное завещание
official will	нотариально оформленное завещание
parol will	завещание, потерявшее силу вследствие смерти наследника до смерти завещателя
probated will	воля умершего, завещание
to renounce the will	завещание в пользу наследников по закону
will contest	завещание в пользу определенного лица
will in issue	оспаривание завещания
will of the decedent	устное завещание

Say whether the following statements are TRUE, FALSE or INCOMPLETE. In case of FALSE or INCOMPLETE statements give the correct version.

1. Minors don't inherit property.

2. The custodian will manage the property until the child reaches the age of 21.

3. Serving as a trustee is the same as serving as a custodian.

4. One trust for all children is called a pot trust.

Answer the following questions:

1. What does one need to do to set up a custodianship?

2. Who is & personal guardian and what is he/she responsible for?

3. Who appoints the personal guardian?

4. What does a person called a custodian do?

5. Is trustee the same as custodian!

6. What is the main drawback of the pot trust?

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Can I disinherit relatives I don 7 like?

It depends on whom you want to disinherit. If it's anyone other than your spouse or child, the rule is very simple: don't mention that person in your will, and he or she won't receive any of your property. Rules for spouses and children are somewhat more complex.

Spouses

It is not usually possible to disinherit your spouse completely. If you live in a community property state (Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington or Wisconsin), your spouse automatically owns half of all the property and earnings (with a few exceptions) acquired by either of you during your marriage. You can, however, leave your half of the community property, and your separate property (generally considered to be all property you owned before marriage or received via gift or inheritance during marriage), to anyone you choose.

In all other states, there is no rule that property acquired during marriage is owned by both spouses. To protect spouses from being disinherited, these states give your spouse a legal right to claim a portion of your estate, no matter what your will provides. But keep in mind that these provisions work only if your spouse challenges your will. If your will leaves your spouse less than the statutory share, and he or she doesn't object, the document will be honored as written.

Children

Generally, it's legal to disinherit a child. Some states, however, protect minor children against the loss of a family residence. For example, the Florida Constitution prohibits the head of a family from leaving his residence to anyone other than a spouse if he is survived by a spouse or minor child.

Most states have laws—called "pretermitted heir" statutes—to protect children of any age from being accidentally disinherited. If a child is neither named in your will, nor specifically disinherited, these laws assume that you accidentally forgot to include that child. In many states, these laws apply only to children born after you made your will, but in a few states they apply to any child not mentioned in your will. The overlooked child has a right to the same share of your estate as he or she would have received if you'd left no will. The share usually depends on whether you leave a spouse and on how many other children you have, but it is likely to be a significant percentage of your property. In some states, these laws apply not only to your children, but also to any of your grandchildren by a child who has died.

To avoid any legal battles after your death, if you decide to disinherit a child, or the child of a deceased child, expressly state this in your will. And if you have a new child after you've made your will, remember to make a new will to include, or specifically disinherit, that child.