What Are Decedents Wills, Trusts and Estates?
The word, decedents, is used in legal documents when referencing a person who has died. This term is commonly used in last will and testaments and trusts. Wills and trusts are legal instruments used to bequeath inheritance assets to heirs and beneficiaries. Decedents can gift financial assets, real estate, privately owned businesses and personal belongings to whomever they desire. Most often, assets are passed along to the surviving spouse, children, and direct lineage relatives such as mother, father, sisters or brothers. Last wills must undergo probate to ensure the estate is properly settled. A personal representative is appointed within the Will to manage the estate. Estate administrators can have a wide range of duties including contacting creditors, paying outstanding debts, maintaining real estate, filing documents through the court and government agencies, submitting a final tax return, and distributing assets to named beneficiaries. When decedents die without leaving a Will it
