Glossary of Terms

ACCOUNT SPELLS OUT WHAT FIDUCIARY RECEIVED, DISBURSED, AND HAS LEFT ON HAND. WHAT WAS DONE WITH ASSETS AND MONEY.
ADMINISTRATION TAKING POSSESSION OF ASSETS, PAYING BILLS, COLLECTING INCOME, ACCOUNTING FOR SAME ALL AFTER APPOINTMENT OF GUARDIAN, CONSERVATOR, PERSONAL REPRESENTATIVE OR TRUSTEE
ADMINISTRATOR A PERSON WHO MANAGES AND DISTRIBUTES A PROBATE ESTATE WHERE DECEASED LEFT NO WILL
ATTORNEY THE ONE THAT KNOWS THE LAW, FILLS OUT THE PAPERS, AND HOW TO GET YOU THROUGH THE PROBATE OR ESTATE PLAN
ATTORNEY ONE WHO IS PUT IN STEAD OF ANOTHER.
ATTORNEY AT LAW A PERSON WHO IS AN ADVOCATE OR COUNSEL EMPLOYED IN TRYING CASES IN THE COURT
ATTORNEY IN FACT A PERSON WHO EXERCISES POWER OR AUTHORITY IN ACTING ON BEHALF OF ANOTHER
BAR THE RAIL SEPARATING THEPUBLIC FROM THE JUDGE AND ATTORNEYS AND JURY INVOLVED IN THE TRIAL
BENCH THE JUDGES SEAT
BENEFICIARY PERSON WHO GETS THE INCOME OR PRINCIPAL FROM THE TRUST
BILL OF SALE TRANSFERS TITLE TO MOST PERSONAL PROPERTY
BOND INSURANCE TO REPLACE THE VALUE OF THE ESTATE IF THE CONSERVATOR OR PERSONAL REPRESENTATIVE ABSCONDS WITH THE ESTATE
BREACH OF FIDUCIARY DUTY FAILURE TO ACT IN A MANNER OF CARE THAT PERSONS OF ORDINARY JUDGMENT AND INTELLIGENCE WOULD ACT IN THE MANAGEMENT OF THE AFFAIRS OF SOMEONE ELSE.
CERTIFICATE OF TITLE STATEMENT OF OWNERSHIP OF AN ASSET USUALLY ISSUED BY A GOVERNMENTAL AGENCY
CITATION COURT COMPELLING YOU TO APPEAR AND ANSWER QUESTIONS
CLAIMANT A PERSON THAT SAYS THE DISABLED OR DECEASED PERSON OWES HIM SOMETHING
CONSENT SAYS YOU WISH TO MAKE NO OBJECTION TO THAT WHICH IS CONSENTED TO
CONSERVATOR COURT APPOINTED PERSON TO MANAGE DISABLED PERSONS MONEY OR PROBATE ASSETS
COUNSELOR AN OLDER ATTORNEY OR ADVISOR THAT TRIES THE CASE. (ATTORNEY AS YOUNGER MEMBER OF THE BAR)
DEATH TAX AN ESTATE TAX OR INHERITANCE TAX
DECREE OF DISTRIBUTION THE COURT’S WAY OF TRANSFERRING TITLE TO THE DEVISEE OR HEIR
DEED TRANSFERS TITLE TO REAL PROPERTY(LAND AND BUILDINGS)
DEVISEE A PERSON NAMED TO RECEIVE SOMETHING FROM DECEDENT’S PROBATE ESTATE (IN DAYS GONE BY A DEVISEE RECEIVED REAL ESTATE AND A LEGATEE RECEIVED CASH OR PERSONAL PROPERTY)
DOCUMENT A WRITING WITH LETTERS, FIGURES, PHOTOGRAPHS OR MARKS WHICH MAY BE USED FOR EVIDENCE TO PROVE A FACT
DRAFTSMAN A PERSON THAT COMPOSES A LEGAL DOCUMENT LIKE A WILL
DUTY A RIGHT IN ONE PERSON WHICH CAUSES A CORRESPONDING RESPONSIBILITY OR DUTY TO ACT (OR REFRAIN FROM ACTING) IN ANOTHER PERSON.
ESTATE ALL OF A PERSON’S MATERIAL POSSESSIONS AND CLAIMS AGAINST OTHERS.
ESTATE PLAN WHO AND HOW MONEY AND ASSETS AND HEALTH CARE ARE TO BE MANAGED WHILE DISABLED AND HOW AND WHO GETS ASSETS AFTER DEATH.
ESTATE TAX TAX ON THE DECEDENT’S RIGHT TO LEAVE HIS PROPERTY TO WHOM HE WANTS
EXECUTOR A PERSON NOMINATED IN A WILL TO MANAGE AND DISTRIBUTE A PROBATE ESTATE. BECOMES A PERSONAL REPRESENTATIVE AFTER COURT APPOINTMENT.
FIDUCIARY GENERICALLY, AN EXECUTOR, ADMINISTRATOR, PERSONAL REPRESENTATIVE, CONSERVATOR, GUARDIAN, TRUSTEE, ATTORNEY IN FACT
FIDUCIARY RETURN INCOME TAX RETURN FILED BY FIDUCIARY FOR A PROBATE ESTATE OR TRUST
GRANTEE A PERSON WHO RECEIVES A POWER TO ACT OR AN INTEREST IN REAL ESTATE FROM ANOTHER
GRANTOR A PERSON WHO TRANSFERS AN INTEREST IN REAL ESTATE OR A POWER TO ACT TO ANOTHER
GUARDIAN COURT APPOINTED PERSON TO MANAGE DISABLED PERSONS HEALTH CARE, PLACE OF RESIDENCE OTHER PERSONAL ASPECTS OF LIFE. NOT MONEY OR ASSETS
HEIR PERSONS NEAREST TO DECEASED RELATED BY BLOOD OR ADOPTION
INDEPENDENT TRUSTEE TRUSTEE THAT MAKES PAYMENTS OF DISCRETIONARY INCOME AND PRINCIPAL (TAX DRIVEN)
INHERITANCE TAX TAX ON THE DEVISEES OR BENEFICIARIES RIGHT TO RECEIVE AN INHERITANCE
INSTRUMENT A FORMAL OR LEGAL DOCUMENT SUCH AS A WILL, DEED OR CONTRACT. FORMAL EXPRESSION TO A LEGAL ACT OR AGREEMENT TO CREATE OR TERMINATE A RIGHT
INTERESTED PARTY A PERSON HAVING A CLAIM AGAINST DECEASED, A RIGHT TO INHERIT, OR NAMED IN WILL AS A DEVISEE
LAPSE TIME’S UP. A TERMINATION OF A RIGHT, DUE TO NEGLECTING TO EXERCISE IT WITHIN A PRESCRIBED TIME
LAUGHING HEIR PERSON RECEIVING SOMETHING FROM DECEDENT’S PROBATE ESTATE USUALLY WHEN THE DECEASED LEFT NO WILL AND NO CLOSELY RELATED HEIRS
LAWYER A PERSON LEARNED IN THE LAW, A PERSON LICENSED TO PRACTICE LAW
NOTICE A WRITING DESCRIBING THE CONTENTS OF A PETITION AND GIVING THE DATE AND TIME OF HEARING SO THAT YOU MAY APPEAR TO ENFORCE YOUR RIGHTS IF ANY
ORDER THE COURT’S DECISION ABOUT A PETITION
PERSONAL REPRESENTATIVE WHAT AN EXECUTOR OR ADMINISTRATOR BECOMES FOLLOWING COURT AUTHORIZATION
PETITION ASKS THE COURT TO DO SOMETHING REGARDING A WILL OR TRUST
POUR OVER WILL A SPECIAL WILL USED WHEN THE MAIN ESTATE PLAN IS ACCOMPLISHED THROUGH USE OF A TRUST. ALL PROBATE PROPERTY WILL THEN PASS INTO THE TRUST.
POWER OF ATTORNEY GIVES ATTORNEY IN FACT CERTAIN AUTHORITY OR POWER TO DO WHAT ONLY YOU PERSONALLY COULD OTHERWISE DO
PRINCIPAL A PERSON WHO GIVES CERTAIN POWER AND AUTHORITY TO ANOTHER TO ACT FOR HIM
PROBATE A COURT PROCEEDING TO APPOINT A GUARDIAN OR CONSERVATOR OF A MINOR OR DISABLED PERSON,
PROBATE ESTATE ALL OF A PERSON’S MATERIAL POSSESSIONS AND CLAIMS AGAINST OTHERS WHICH ARE SUBJECT TO PROBATE
SCRIVENER THE ONE WHO PHYSICALLY WRITES THE LEGAL DOCUMENTS
SETTLOR OR GRANTOR PERSON WHO TRANSFERS MONEY OR ASSETS INTO A TRUST
SUCCESSOR TRUSTEE REPLACEMENT FOR PREVIOUS TRUSTEE
AN ESTATE TAX OR INHERITANCE TAX TAX ON THE DEVISEE’S OR BENEFICIARIES RIGHT TO RECEIVE AN INHERITANCE.DEATH TAX
TESTAMENT WILL
TESTAMENTARY CAPACITY WHEN YOU KNOW WHO YOUR ERROR ARE AND WHEN YOU KNOW THE NATURE AND EXTENT OF YOUR ASSETS AND KEEPING IT ALL IN MIND IN ORDER TO WRITE A WILL
TESTATOR A PERSON WHO WRITES A WILL
TRUST A CONTRACT THAT TELLS A TRUSTEE HOW TO MANAGE AND DISTRIBUTE MONEY AND ASSETS HELD IN TRUST
TRUSTEE PERSON WHO MANAGES AND DISTRIBUTES TRUST ASSETS ACCORDING TO TRUST INSTRUMENT
IRREVOCABLE LIFE INSURANCE TRUST (ILIT) AN IRREVOCABLE TRUST ESTABLISHED TO RECEIVE A LIFE INSURANCE POLICY. PURPOSE IS TO EXCLUDE FROM TAXABLE FEDERAL ESTATE
WILL SAYS WHO GETS TESTATORS PROPERTY AFTER DEATH
WITNESS A PERSON WHO SAW ANOTHER PERSON SAY OR DO SOMETHING