In a Massachusetts Testament, the testator typically also establishes a personal representative-or co-personal representatives (more than one individuals acting together in this capacity) to take care of the matters of the estate. A personal agent is somebody who collects all the information regarding the decedent’s debt and belongings, pays any overdue debts with the assets on behalf of the estate, and ensures that the decedent’s property is used as written in the Will, making this a job with a lot of responsibility. The personal representative decided on is often somebody the will creator really relies on to execute their final will.
In the event that one passes away with no valid Massachusetts Will (which for most states implies it must be correctly witnessed, not only signed), someone will generally be selected by the court to be the personal agent and pay off the decedent’s debt, utilizing assets as required to do so. Consequently, the leftover assets will be distributed among the decedent’s heirs based on the legislation of the state the will maker resided in.
In certain states, any time one spouse passes away leaving behind their husband or wife, that living spouse will acquire most of the decedent’s property without a Last Will stating the opposite. Sometimes, the testator might have selected a specific person to inherit a life insurance policy, retirement account, or other asset, and this inheritor designation will dictate who is given those assets even without a Last Will.
The important thing to take note of is that anyone who wishes to designate exactly how their possessions will be used after their death should create and correctly execute a Last Will and Testament to ensure their wishes are recognized and executed. Without getting a will, you could be leaving it up to chance, the rules of the state, or a court as to the way your very last affairs will be wrapped up.