I'm my mother's only child. Her will explicitly says she's leaving everything to me. Her will grants the executor the continuing absolute, discressionary power to deal with any property held in her estate as freely as she might in the handeling of her own affairs. Such powers may be exercised independently and without prior or subsequent approval of any court of judicial authority, and no person deaing with the executor shall be required to inquire into the propriety of any of his actions. Without in any way limiting the generality of the foregoing, she granted the Executor al the powers set forth in NC General Statute, Section 32-27 and such powers are intended to be in addition to and not in substitution of the powers confered by law.
Carol
Measure twice - cut once!
Carol
Many of the things our benefactors own are not subject to their will or probate. For instance, most life insurance and annuity contracts name a non-estate beneficiary that is paid directly upon claim (this is called operation of law or contract). Same holds true for many bank and brokerage accounts these days that have Payable on Death or Transfer on Death provisions. Joint accounts will usually pass to the other owner sans probate. Assets titled in Revocable Inter-Vivos or Living Trust agreements are administered and disposed of by successor trustees named in the document and real property, too, is often titled so as to pass to an heir while avoiding probate.
In short, anything that does not go to a beneficiary directly will be subject to the deceased will. AND ALL WILLS, AS WELL AS ASSETS THAT DO NOT PASS BY OPERATION OF LAW OR CONTRACT, ARE SUBJECT TO PROBATE. All of that other gobbledgook simply says you can do whatever you want once the estate has been administrated.
I believe that as the executor of the estate, I am the one who administers it. From what I've been told the wording is so explicit that the judge will look at the will and most likely say, well she made her wishes known very clearly, here administer this thing for the way this is worded niether your step dad nor his children can contest this will.