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Probate Glossary
 
 
Beneficiary -

Refers to someone who is named in a Will to receive something.  A beneficiary may or may not be an heir.

Codicil -

A document that modifies a Will.

Decedent -

A person who has passed away.

Estate -

The property of whatever kind that belonged to the deceased person.

Heir -

Those entitled to share in the property of the decedent.

Intestate -

Someone who has died without having a Will.

Joint Tenancy -

Property owned by more than one person.

Letters of Administration -

Order granted by the court that allows a person to administer the estate.

Letters Testamentary -

Order granted by the court that allows the person named in the Will to administer the estate.

Nonintervention Powers -

Power granted by the court to the Personal Representative to administer the estate without supervision of the court.

Personal Representative -

A person appointed by the court to administer the estate.

Probate -

Literally means to prove that a Will is valid in a court of law, although commonly known as the process of settling a decedent's estae.

Property -

Anything owned by a person.

Power of Attorney -

Authority given to another to act on their behalf which terminates at death.

Quitclaim Deed -

Document used to transfer property.

Real Property -

Refers to land with or without home on it.

Solvency -

When there are more assets than debts.

Testate -

Without having a Will.

Will -

Document that provides for the divison of one's property and who will manage that process.



 



 





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