Probate Terms and DefinitionÂ
A
Ademption
Ademption occurs when property named in a will is no longer part of the estate at the time of death and cannot be distributed as originally stated.
Administrator
An administrator is appointed by the court to manage an estate when no valid will is present or no executor is available to serve.
Administrator with Will Annexed
An administrator with will annexed is appointed when a valid will exists but no executor is able or willing to act.
Affidavit
An affidavit is a written statement confirmed under oath and used as supporting documentation in probate proceedings.
Ancillary Administration
Ancillary administration is a secondary probate process required when property is located in a state different from the primary probate jurisdiction.
B
Beneficiary
A beneficiary is a person or entity designated to receive assets from an estate.
C
Codicil
A codicil is a formal amendment to an existing will that modifies specific provisions without replacing the entire document.
Community Property
Community property refers to assets acquired during a marriage that are jointly owned by both spouses, subject to state law.
Conservator
A conservator is appointed by the court to manage financial matters for an individual who is unable to do so.
Contingent Beneficiary
A contingent beneficiary receives assets only if the primary beneficiary is unable or unwilling to accept them.
D
Decedent
The decedent is the individual who has passed away.
Devisee
A devisee is a person designated to receive real property under the terms of a will.
Distribution
Distribution is the transfer of estate assets to beneficiaries after debts, expenses, and obligations have been addressed.
E
Estate
The estate includes all assets, property, and obligations owned by the decedent at the time of death.
Estate Tax
Estate tax is a tax applied to the transfer of assets from the estate, depending on applicable thresholds and laws.
Executor (Personal Representative)
The executor, also referred to as the personal representative, is responsible for managing the estate according to the will and applicable law
F
Fiduciary
A fiduciary is a person appointed to act in the best interest of the estate or another party, with a duty of care and accountability.
G
Grantor
The grantor is the individual who creates a trust and transfers assets into it.
Guardian
A guardian is appointed by the court to make personal or medical decisions for an individual who cannot do so independently.
H
Heir
An heir is a person entitled to inherit assets under state law when no valid will governs distribution.
I
Inheritance Tax
Inheritance tax is a tax imposed on individuals who receive assets from an estate, depending on jurisdiction.
Intestate
Intestate refers to a situation where an individual passes away without a valid will.
Intestate Succession
Intestate succession is the legal process that determines how assets are distributed when no will exists.
Irrevocable Trust
An irrevocable trust cannot be modified or revoked once established, except under limited legal circumstances.
J
Joint Tenancy
Joint tenancy is a form of ownership where property passes directly to the surviving owner upon death, outside of probate.
L
Life Estate
A life estate grants an individual the right to use property during their lifetime, after which ownership transfers to another party.
Living Will
A living will outlines an individual’s preferences for medical care and does not control the distribution of assets.
P
Personal Representative
The personal representative is the individual responsible for administering the estate, whether named in a will or appointed by the court.
Power of Attorney
A power of attorney authorizes another person to act on behalf of an individual during their lifetime and ends at death.
Probate
Probate is the legal process used to validate a will, establish authority, address debts, and distribute assets.
Probate Court
The probate court oversees estate administration and ensures compliance with applicable laws and procedures.
Probate Administrator
A probate administrator is appointed by the court to manage an estate when no executor is available.
R
Real Property
Real property includes land and any structures attached to it.
Residue
Residue refers to the remaining assets in an estate after specific gifts, debts, and expenses have been addressed.
Revocable Trust
A revocable trust can be modified or revoked by the grantor during their lifetime.
T
Testator
The testator is the individual who creates a will.
Trust
A trust is a legal arrangement in which assets are managed by one party for the benefit of another.
Trustee
A trustee is responsible for managing assets held within a trust according to its terms.
W
Will
A will is a legal document that outlines how assets should be distributed after death and may designate an executor.
This content is for general informational purposes only and does not constitute legal or financial advice. Probate laws vary by state. Consult a licensed probate attorney in your jurisdiction before taking action.
