Administrator:
A person, or financial institution, appointed by the court to oversee an estate where there is no will. The Administrator is also commonly referred to as the Personal Representative.
Administrator With Will Annexed:
A person, or financial institution appointed when the will does no name an Executor or the named Executor cannot serve.
Beneficiary:
A person who inherits property because he or she is named in a will or trust, or designated as the recipient upon the death of the owner of an annuity, life insurance policy, qualified retirement plan or financial account.
Codicil:
A document which legally changes a will through supplement or amendment.
Decedent:
A person who has passed away.
Estate:
A decedent's total assets, both real and personal, which are managed by the Personal Representative.
Executor:
The person named in the will to carry out the directions as set forth in the will. The Executor is also commonly referred to as the Personal Representative.
Heir:
A person who inherits through the laws of intestacy when there is no will.
Intestate:
Without a will.
Letters of Administration:
The court document issued to a person authorizing them to act as the Administrator (no will).
Letters Testamentary:
The court document issued to a person authorizing them to act as Executor (named in will)
Personal Representative:
A person, or financial institution, appointed to oversee an estate whether as executor, administrator or administrator with will annexed.
Probate:
The court process that determines the validity of the will and the supervision of its administration.
Testate:
A person who dies with a valid will or trust dies testate and the estate is disposed of according to the will or trust.
Trust:
A document that avoids probate which directs the disposition of a person's property after death.
Trust Estate:
A decedent's total assets, both real and personal, which are managed by the Trustee.
Trustee:
A person, or financial institution, nominated by the creator of a trust to to carry out the directions as set forth in the trust.
Will:
A document that requires probate which directs the disposition of a person's property after death.
If you, a family member, or a friend, have a question, please contact us at telephone number 818-444-2022, or send an immediate email inquiry to one of our qualified lawyers.