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Difference between revisions of "Making and Executing a Will (16:III)"
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Making and Executing a Will (16:III) (view source)
Revision as of 22:20, 9 August 2021
, 22:20, 9 August 2021→b) Payment of Debts
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This clause is usually inserted even though the Executor/Trustee is legally required to pay debts outstanding at death, reasonable funeral expenses, taxes, and legal fees out of the estate. | This clause is usually inserted even though the Executor/Trustee is legally required to pay debts outstanding at death, reasonable funeral expenses, taxes, and legal fees out of the estate. | ||
* SAMPLE: “(a) to pay out of my estate: | * '''SAMPLE:''' “(a) to pay out of my estate: | ||
# my debts, including income taxes payable up to and including the date of my death [and any financial charges with respect to any property which, pursuant to this will, is transferred free and clear to a beneficiary for beneficiaries]; | # my debts, including income taxes payable up to and including the date of my death [and any financial charges with respect to any property which, pursuant to this will, is transferred free and clear to a beneficiary for beneficiaries]; | ||
# my funeral and other expenses related to this Will and my death; and | # my funeral and other expenses related to this Will and my death; and | ||
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::C. any gift made by me in my lifetime; and | ::C. any gift made by me in my lifetime; and | ||
::D. any benefit arising by survivorship, | ::D. any benefit arising by survivorship, | ||
and my Trustee may pay these taxes whether they are imposed by the law of this jurisdiction or any other, and my Trustee may prepay or delay payment of any taxes or duties; | |||
( | (2020 CLEBC ''Wills and Personal Planning Precedents'', 8.4)" | ||
==== c) Items-in-Kind ==== | ==== c) Items-in-Kind ==== | ||
