Simple English definitions for legal terms
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Valuable papers are important documents that are necessary to carry out someone's wishes after they pass away. These papers can include things like wills, power of attorney forms, title documents, stock certificates, and letters that are meant to be read after someone's death. They are called "valuable" because they are crucial in making sure that a person's wishes are followed and their assets are distributed correctly.
Definition: In estates and trusts law, valuable papers refer to important documents that are necessary to carry out a decedent's wishes. These documents may include wills, power of attorney forms, title documents, stock certificates, and letters to be opened after one's death.
Examples:
For example, if someone passes away and their will cannot be found, it may be difficult to distribute their assets according to their wishes. Similarly, if someone becomes incapacitated and does not have a power of attorney form in place, it may be difficult for someone else to make important decisions on their behalf. Valuable papers are important to ensure that a person's wishes are carried out and their assets are distributed properly.