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Maine
Assignment of Certificate of Deposit Agreement

Maine Assignment of Certificate of Deposit Agreement

Q: What is a Devisee in Maine?

&quot;Devisee&quot; means any person designated in a will to receive a devise. For the purposes of Article 3, in the case of a devise to an existing trust or trustee, or to a trustee or trust described by will, &quot;devisee&quot; includes the trust or trustee but not the beneficiaries.

Category:

Loans and Lending - Assignments

State:

Multi-State

Control #:

US-01008DR

Format:

Instant download

Description

A certificate of deposit is a certificate or document issued by a bank acknowledging the receipt of money with a promise to pay to the depositor the amount of the deposit plus interest. This form is a collateral assignment of a certificate of deposit to secure a debt or some other obligation.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

"Devisee" means any person designated in a will to receive a devise. For the purposes of Article 3, in the case of a devise to an existing trust or trustee, or to a trustee or trust described by will, "devisee" includes the trust or trustee but not the beneficiaries.

If the Will names a ?Personal Representative? - sometimes called ?Executor? or ?Executrix? then the court will legally appoint that person to take care of the estate. If the Will does not name a Personal Representative, the court will appoint someone to do this job ing to Maine law.

Under current Maine law, creditors have a maximum time limit of 9 months from the date of death to present their claims to the Personal Representative. The 9-month period can be shortened if you provide a written notice to the creditor and request that the creditor promptly file the claim.

Spouses in Maine Inheritance Law If you die intestate, your spouse's inheritance depends on whether or not you have living parents or descendants. Descendants include children, grandchildren, and great-grandchildren. If you have no living parents or descendants, your spouse inherits all intestate property.

In Maine, you can make a living trust to avoid probate for virtually any asset you own?real estate, bank accounts, vehicles, and so on. You need to create a trust document (it's similar to a will), naming someone to take over as trustee after your death (called a successor trustee).