Estate Planning Jargon: What Does it Actually Mean?
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Confusion seems to abound among non-lawyers and, unfortunately, some lawyers about the various roles people or institutions can play in typical estate plans. Clients often question what it means, for example, to be appointed the personal representative of an estate. Below are some very general descriptions and duties of fiduciary positions to which people or institutions are appointed in the process of the administration of an estate. There are other fiduciaries, but these roles are the most common and spawn the most questions.
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