For private households, it's important to assess the underlying problems and to minimize the risk of financial distress to recur

If someone is already incapacitated, it is not possible for that person to execute a valid power, although in some jurisdictions, it may be possible for someone to have the capacity to execute a power of attorney even if they do not have the capacity to make the decisions that they are delegating

The trust is governed by the terms under which it was created

This often happens when parents or grandparents are first in line to become the administrator but renounce their rights on the grounds that they are elderly, do not possess knowledge of estate law, or feel that someone else is better suited to the task

Jump to content Main menu Main menu move to sidebar hide Navigation Main page Contents Current events Random article About Wikipedia Contact us Contribute Help Learn to edit Community portal Recent changes Upload file Special pages

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

An official website of the United States government Here’s how you know Here’s how you know Official websites use .gov A .gov website belongs to an official government organization in the United States. Secure .gov websites use HTTPS