International Tax and Estate Planning Discussion Post 6 - Coursework Example

Fundamentals of Will and Trust Advise to Cassandra on Will and Trust According to Lusuliv (2005), a will that has legal consequences requires to fulfill some legal fundamentals that are laid down in specific statutes of the federal government. Of significant importance, is a requirement that all wills to be put in writing, preferably typed since some states and governments reject handwritten wills. In this particular case, it is paramount for Cassandra to ensure that her will is in writing and correctly signed as the federal government requires the testator to personally append the signature to the will document.

It is also important to allow a public notary to acknowledge or verify the Cassandra’s signature on the document.Cassandra should also note that the will has legal binding only when at least two witnesses watch when she is signing the will document. Spenceley (2009) advises that the two witnesses will form a reliable defense should someone contests the will in a legal system. Likewise, she should ensure that the witnesses’ signatures are verified by a public attorney.Furthermore, Cassandra is required to make clear and detailed instructions on how to distribute her properties after her demise.

In this particular case, she ought to explain in the will that Aidan should inherit the house with Danika as the trustee. She should also mention the sale and subdivision of the sale amount among the three beneficially. If clear instructions are not available, Spenceley (2009) argues that the properties will be distributed according to the state’s intestacy lawsLastly, Cassandra must appoint a person that she trusts to act as her personal representative or executor of her will. The will must clearly identify the executor who will ensure that the will is executed.

The trustee plays a significant role in ensuring that minors and beneficiaries living overseas are taken care of according to the provisions of her will. References Lusuliv, I. (2005). Revision of the statutes of America (4th ed., pp. 200-213). Clark, N.J.: Lawbook Exchange.Spenceley, R. (2009). Will and Trust. In Estate administration in Ontario: A practical guide (2nd ed.). North York , Ont.: CCH Canadian Limited