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Glossary of Normal
Probate Terms
A B C
D E F
G H I J K
L M N O P Q R
S T U
V W X
Y Z
This
glossary provides simplified definitions of these words.
It is not to be used for any legal purposes and is not
a legal dictionary.
ACCOUNTING: The settling of the financial accounts of the
estate, indicating gain/loss and disbursement decisions
and actions by the fiduciary.
ADMINISTRATOR: A
person selected by the Court to probate an estate without
a Will (see also Executor/Executrix).
AFFIANT: The person who makes an affidavit.
AFFIDAVIT: The written declaration or statement of facts, made
voluntarily, and confirmed by oath.
ASSETS: That which has monetary value, can be sold for money or is money.
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B
BENEFICIARY: A person who
inherits when there is a will.
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C
CLAIMING SUCCESSOR: The person who, by affidavit, claims to
be the rightful recipient of the assets of the estate.
CODICIL: A supplement or addition to a will that may explain,
modify, qualify, restrain, revoke or otherwise alter the
provisions of the existing will.
CO-GUARDIAN CONSVERVATORS: When two or more persons
are appointed to perform the duties and wield the authority
normally assigned to one individual conservator / guardian.
CONSENT: When a person voluntarily agrees that the contents
of one will is displaced by another, a voluntary yielding
to the contents of the other.
CONSENT TO SERVE: An agreement to act or serve as a fiduciary on
the behalf of the protected person or the protected person’s
estate.
CONSERVATOR: A guardian
or protector appointed by a court to manage the affairs
of an individual who isn't capable of managing his/her
own affairs.
CORPORATE BOND: A written promise by a corporation to pay a fixed
sum of money at some future time named, with stated interest
and stated time intervals, given in return for money or
its equivalent received by the corporation, sometimes
secured, sometimes not.
CUSTODIAN: A general term to
describe anyone who has the charge or custody of property,
papers, etc.
CUSTODIAN OF THE WILL: The person who has the Will when the
person who wrote the Will dies.
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D
DECEDENT: The person
who has died.
DECLINATION TO SERVE: A decision to decline to act or serve as
a fiduciary on the behalf of the protected person or the
protected person’s estate.
DECEDENT’S ESTATE: All the property (real or personal) that a person owned at the time of
death.
DEVISEE:
A person to whom lands or other real property are given by
will. In the case
of a trust, the trust or trustee is the devisee and the
beneficiaries are not devisees.
DISTRIBUTION - at
the end of the probate process, the assets (money) are
given to the heirs who are entitled.
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E
ENTITLED: Persons
who will receive assets from an estate; usually a Court
gives an order to name those who are entitled to inherit.
ESTATE: The things
a person owns whether the person is living or dead.
EXECUTOR: A man selected by the Court to probate an estate
when there is a Will.
EXECUTRIX: A woman selected by the Court to probate an estate
when there is a Will.
EXPERT: One qualified
to testify in court.
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F
FIDUCIARY: Refers to a person acting as trustee, or a character
analogous to trustee. A person having a duty, created
by his/her undertaking, to act primarily on behalf of
another's benefit including managing money or property
for another.
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H
HEIR: A person who inherits when there is no Will.
HEIRSHIP ORDER (also
known as KINSHIP) An order from a court naming the relatives
who are entitled to inherit, and the share each relative
is to receive.
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I
INHERIT: Receive
something from a person (usually after the person is deceased).
INHERITANCE: That which is received.
INTESTATE:
When someone dies without leaving a Will.
INTESTATE SUCCESSION: The order of who inherits the property
when someone dies without a Will.
INVENTORY: A detailed list of articles of the property of an estate
compiled by the executor, administrator or assignee of
the estate. It will contain a description of each item
with their estimated or actual values.
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K
KINSHIP:
An order from a court naming the relatives who are entitled
to inherit, and the share each relative is to receive.
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L
LEGATEES OR DEVISEES: People who are named in a Will.
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P
PERSONAL EFFECTS:
Personal belongings (such as clothing, pictures,
mementos); personal effects may have little value as "assets,"
but may be important to relatives.
PERSONAL PROPERTY: Things like cash, bank accounts, stocks,
jewelry, clothing, furniture, or cars. Not Real Estate.
PERSONAL REPRESENTATIVE (OR ADMINISTRATOR OR
EXECUTOR):
Person
appointed by the court to represent and act on the behalf
of the decedent and the decedent’s estate.
PERSONAL SURETY BOND: An amount of money required by the court
to be held by the court from the fiduciary, conservator,
or trustee indicating they have formally recognized an
obligation to perform a specific act or forfeit the amount
of the bond.
PROBATE: Probate is a
process in which the court takes a list of assets of the
person who has died, pays off creditors, decides who the
legal beneficiaries or heirs are, and transfers the title
to the assets to those beneficiaries or heirs.
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R
REAL
PROPERTY: This is real estate such as houses or land.
RECEIPT: A written acknowledgment of having received money,
or a thing of value, without containing any obligation
upon either party to the money or item.
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S
SHARE: The part
of an estate which an heir will receive. Share size may
vary among heirs.
SIBLING: A brother
or sister.
SPECIAL ADMINISTRATOR: A person assigned or appointed to act for
a specific special reason or to perform a specific duty
for a particular time, person, object or class.
SPECIAL REPRESENTATIVE: A person assigned or appointed
to act for a specific / special reason or to perform a
specific duty for a particular time, person, object or
class.
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T
TEMPORARY GUARDIANS/CONSERVATORS: The fiduciary appointed
by the court to administer the affairs and/or estate of
an individual for a short period of time before an administrator
or executor can be appointed and qualified to assume full
responsibilities.
TESTATE: When someone dies leaving a legal, valid Will.
TRUST: When one person (trustee) holds property at another person’s
(trustor) request
for the benefit of someone else (the beneficiary).
TRUSTEE: A person holding property in trust; a person appointed or
required by law,
TRUSTOR:
One who creates a trust.
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V
VOUCHER: Written receipt, acceptance, or release which may
serve as evidence of payment or discharge of a debt, or
to certify the correctness of accounts.
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W
WILL: A legal paper that lists a person’s desires about what
will happen to his/her property after death.
WARRANT OF DETENTION/TRANSPORT: A warrant issued to law
enforcement personnel to detain and/or transport a person
as indicated by the court.
