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There are numerous uncertainties in the world today. On the other hand, trust among humanity even on what appears to be relatively obvious seems as elusive. Whatever the circumstance, it is tidal that the any landowner, young or old writes some note or assigns or prepares some tentative will for his estate (Texas Young Lawyers Association). The written document would take a number of forms, but most importantly, it confers estate management mandate to some trusted person(s) or legal entity.
At the very onset one needs to appreciate that there is a difference between DURABLE POWER OF ATTORNEY and GENERAL POWER OF ATTORNEY. DURABLE POWER OF THE ATTORNEY lives beyond the period for which it was meant. While the GENERAL POWER OF ATTORNEY only grants powers to the nominee for specific period of time.
In the event of death, and where the owner of the estate has not left an elaborate will, the descendants seem to be entangled in disagreement over the inheritance of the estate and the property (Cavazos T S., 2002). In most cases the owner normally identifies a trusted member of the family who would act as an administrator in the event of any eventuality.
When one feels that he may be away for some time and there are very important transactions that he may need attended to, he may choose someone to handle the transactions through the preparation of financial POWER OF ATTORNEY (POA). In the case where such financial POA has to be prepared by somebody who feels that he may be incapacitated, one may opt to entrust the management to one of the family members (Dying Without A Will). The family member would only make very important decisions when two doctors verify that the owner is indeed incapacitated.
Legally, the POWER OF ATTORNEY (POA) is kept together with the medication documents. However, it needs to be appreciated that the POWER OF ATTORNEY is prepared on two accounts. Thus, in the event of probable hospital incapacity and in the event that the owner wishes to have transactions transacted while he/she is away (Texas Young Lawyers Association).
Consequently, for effective sharing of the inheritance the POA has to be the ‘DURABLE’ one. This document ensures that whoever is put in charge of the estate manages it beyond sickness or absence. In case of absence that is not related to sickness, if the owner is befallen by some calamity, the durable POA allows the nominated individual to clear the transactions and hands the transactions papers to the descendants.
If a will is not available, the court may designate anyone to take over the guardianship of the estate and the minor children alike. However, the guardianship may not be as required by the land or property owner. In addition, if anyone passes away without any written will, the estate is subjected to a number of costs (Texas Young Lawyers Association). These costs may be in terms of court fees and fees for the attorney and costs arising from any errors. This may lead to the liquidation of some of the assets so as to meet the costs. Subsequently, whatever is meant for disbursement to the descendant is reduced.
Intestacy laws differ from state to state, in the event that the land owner has land in another state and dies without a will, the laws of the state where the land is located are used in deciding on the inheritance of the land (Cavazos T S., 2002). However, more often, land owners have special feeling to family members, and could express this feeling through the written will by giving them some preference. Dying without a will implies that the property is shared among the heirs indiscriminately without bothering about your feelings to certain family members.
Landowners may have a heart to assist the poor who may not necessarily be members of the family (Dying Without A Will). Such wishes would only be made effective where there is a will that is left. Or else the property would simply be taken by distant relations of even the state where such distant relations as the father, grandfather, sibling or even grand children are none existent. It is vivid from the foregoing discussion that at all points, land and property owners should develop some written document offering guidance on the inheritance of their estate.