flexagon | (Reply)

From:

I learned so much. Let's see:

* I learned that you don't have to get permission from someone before naming them executor of your estate -- heck, you don't even have to tell someone you're naming them! And they're still pretty much legally bound to do what you say. Wild.

* I learned that if you leave more money to people than you actually die with, the amounts they get are pro-rated. Percentages are better than absolute dollar amounts, for this reason. Example of both: I leave $100,000 to charity and the rest to you, but then I die with $50,000 to my name... the charity gets it all (at fifty cents on the dollar) and you get nothing.

* Anything that has a listed beneficiary (like 401(k), life insurance) does not go through the will, and neither does anything jointly owned (like my condo). Wills are only for stuff that is solely owned and does not have a beneficiary listed elsewhere.

* When you die, a death certificate gets filed at the Registry of Deeds.

* It's nice to leave some money to your executor; they end up doing a lot of work.