J. Dan Recer
| 1. IF A PERSON HAS A
WILL, HIS ESTATE DOES NOT GO THROUGH PROBATE.
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| 2. YOUR WITNESSES MUST READ YOUR WILL.
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| 3. LIFE INSURANCE MUST PASS BY THE
WILL.
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| 4. THE AVERAGE PROBATE TAKES MORE THAN 3
MONTHS.
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| 5. A JOINT DEED IS MORE POWERFUL THAN A
WILL.
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| 6. A WILL CAN CREATE A SPENDTHRIFT
TRUST.
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| 7. YOUR SON SHOULD KEEP THE ORIGINAL OF
YOUR WILL.
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| 8. HEIRS PAY INCOME TAX ON PROCEEDS OF A
WILL.
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| 9. A WILL CAN BE CHALLENGED IN COURT.
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| 10. A WILL CONTROLS THE MONEY IN A JOINT
BANK ACCOUNT.
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| 11. A WILL IS PROBATED BEFORE THE
FUNERAL.
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| 12. BOTH HUSBAND AND WIFE SHOULD HAVE
WILLS.
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| 13. JOINT OWNERSHIP IS AN ADEQUATE WILL
SUBSTITUTE.
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| 14. A JOINT WILL IS ONE DOCUMENT FOR TWO
PEOPLE.
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| 15. A HANDWRITTEN WILL MUST BE
NOTARIZED.
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| 16. A WILL CAN NOMINATE A GUARDIAN FOR YOUR
CHILD.
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| 17. A WILL IS THE ONLY WAY
PROPERTY CAN BE TRANSFERRED FROM ONE GENERATION TO ANOTHER.
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| 18. TRUSTS CREATED BY WILL ARE TESTAMENTARY
TRUSTS.
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| 19. ASSETS PASSED BY WILL ARE NOT IN THE
TAXABLE ESTATE.
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| 20. ASSETS PASSED BY WILL ARE IN THE PROBATABLE
ESTATE.
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| 21. IF YOU OWN PROPERTY IN MORE THAN ONE
STATE, YOUR ESTATE MAY NEEDTO BE PROBATED IN EACH STATE WHERE PROPERTY IS
LOCATED.
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| 22. A DEED CAN PASS PROPERTY TO THE NEXT
GENERATION.
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| 23. RETIREMENT IS AN EXCELLENT TIME TO WRITE
YOUR FIRST WILL.
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| 24. IF YOU HAVE NO WILL, YOUR PROPERTY MAY
PASS UNDER THE LAWS OF YOUR STATE.
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| 25. A WILL PROPERLY WRITTEN OVER 20 YEARS
AGO IS NO LONGER VALID.
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| 26. A WILL WHICH IS DESIGNED TO PASS ASSETS
INTO A LIVING TRUST IS CALLED A "POUR-OVER WILL."
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| 27. IF YOU HAVE NO WILL, THE PERSON YOU WANT
IS AUTOMATICALLY SELECTED TO BE YOUR CHILDREN'S GUARDIAN.
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| 28. IN CASE MORE THAN ONE WILL IS SUBMITTED
FOR PROBATE, THE JUDGE DECIDES WHICH IS THE TRUE WILL.
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| 29. IF YOU HAVE A LIVING TRUST, YOU DO NOT
NEED A WILL.
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| 30. WHEN YOU MOVE TO ANOTHER STATE, YOU SHOULD
REVIEW YOUR WILL.
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| 31. A WILL MUST BE WRITTEN ON LEGAL-SIZED
PAPER.
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| 32. TO BE VALID, A WILL MUST BE SIGNED.
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All of us at "The Foundation" hope you have enjoyed
this learning experience ... and that you will remember our cause in your
will.
