In a North Dakota Testament, the testator usually also names a personal representative-or co-personal agents (more than one persons acting jointly in this capacity) to manage the matters of the estate. A personal representative is somebody who gathers all the information in relation to the decedent’s debts and assets, pays off any remaining debts using the assets on behalf of the estate, and makes sure that the decedent’s property is distributed as provided in the Will, making this a job with a great deal of responsibility. The personal agent selected is often somebody the decedent genuinely trusts to conclude their final will.
Any time an individual dies without having a valid North Dakota Will (which in the majority of states means the document must be correctly witnessed, not only signed), somebody will generally be designated by the probate court to become the personal agent and cover the decedent’s debt, utilizing assets as needed to do so. Then, the remaining assets will be dispersed amongst the decedent’s heirs according to the laws of the state the will maker resided in.
In some states, when one spouse passes away leaving behind their significant other, that surviving spouse will acquire most of the decedent’s assets without a Will instructing the contrary. Sometimes, the testator might have determined a certain person to receive a life insurance policy, retirement account, or some other asset, and that inheritor designation will ascertain who gets those assets in the absence of a Last Will and Testament.
The important thing to be aware of is that any person who needs to define how their property will be used after their death should draft and correctly sign a Will to make certain their wishes are recognized and followed. Without getting a last will, you most likely are leaving it up to chance, the laws of the state, or a court of law regarding just how your very last matters will be wrapped up.