In most jurisdictions, this requires a contractual trust agreement or deed

In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor

This means, for example, that if a principal authorizes someone to sell the principal's house or other real property, and the law requires a contract for the sale of real property to be in writing (which is required under the Statute of Frauds in most U

The probated will then becomes a legal instrument that may be enforced by the executor in the law courts if necessary

Assets left to any other heir, including the decedent's children, may be taxed if that portion of the estate has a value in excess of the lifetime gift, estate, and generation-skipping transfer tax exemption amount

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Most relatively simple estates (cash, publicly traded securities, small amounts of other easily valued assets, and no special deductions or elections, or jointly held property) do not require the filing of an estate tax return