The law of trusts and estates
is the body of law
which governs the disposition of property
in the event of a person's death
and in anticipation of the event of a person's death. An estate
is comprised of the tangible assets of real
and personal property
which belong to a person, whereas trusts
are the most commonly used legal instruments for the distribution of the tangible assets of a deceased person. Before property can be disposed of pursuant to the terms of a will, the will must be submitted to a probate[?] court
which takes jurisdiction
of the estate of the deceased. In striking contrast, trusts can and usually do accomplish their objectives of property distribution without coming under the jurisdiction of a court.
This article is a stub. You can help Wikipedia by fixing it.
All Wikipedia text
is available under the
terms of the GNU Free Documentation License