Puerto Rico Covenant Not to Sue by Widow of Deceased Stockholder

State:
Multi-State
Control #:
US-0624BG
Format:
Word; 
Rich Text
Instant download

Description

A covenant not to sue is an agreement entered into by a person who has a legal claim against another but agrees not to pursue the claim. Such a covenant does not extinguish a cause of action and does not release other joint tortfeasors even if it does not
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FAQ

After someone dies, someone (called the deceased person's 'executor' or 'administrator') must deal with their money and property (the deceased person's 'estate'). They need to pay the deceased person's taxes and debts, and distribute his or her money and property to the people entitled to it.

Which of following CANNOT inherit from or through a decedent? The decedent's stepchild who has been treated as the decedent's child since birth.

This means that the beneficiaries in order of preference are: the spouse of the deceased; the descendants of the deceased; the parents of the deceased (only if the deceased died without a surviving spouse or descendants); and the siblings of the deceased (only if one or both parents are predeceased).

BENEFICIARY - A person named to receive property or other benefits.

If the deceased person was married, the surviving spouse usually gets the largest share. If there are no children, the surviving spouse often receives all the property. More distant relatives inherit only if there is no surviving spouse and there are no children.

The aggregate of assets and liabilities of the deceased is termed the deceased estate. The deceased estate is not a juristic person. Consequently, the only legal person in connection with the estate is the executor in his representative capacity.

An heir is a person who is legally entitled to collect an inheritance when a deceased person did not formalize a last will and testament. Generally speaking, heirs who inherit the property are children, descendants, or other close relatives of the decedent.

Generally, the heirs of the decedent are their surviving spouse and children, including all of decedent's biological children and adopted children.

Issue are any descendants, including children, grandchildren, etc. Ascendants are any ancestors, including parents, grandparents, etc.

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Puerto Rico Covenant Not to Sue by Widow of Deceased Stockholder