The term is often described as having originated in Renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment

This may be done for tax reasons or to control the property and its benefits if the settlor is absent, incapacitated, or deceased

[5] If a person without a durable power in place does not have the capacity to execute a power of attorney, the only way for another party to act on their behalf may be to have a court impose a conservatorship or a guardianship

After the testator dies, the person named in the will as executor can decline or renounce the position, and if so should quickly notify the probate court accordingly

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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After the net amount is computed, the value of lifetime taxable gifts (beginning with gifts made in 1977) is added to this number and the tax is computed