Glossary of Probate Terms

A

Administrator: A person appointed by the court to manage and distribute an estate when no valid will exists.

Affidavit: A written, sworn statement made under oath, often used to verify facts in probate proceedings.

Assets: Property owned by the deceased — such as bank accounts, real estate, investments, and personal belongings.

B

Beneficiary: A person or entity entitled to receive assets or benefits from a will, trust, or life insurance policy.

Bond: A type of insurance required by the court to protect the estate against possible mismanagement by the executor or administrator.

C

Creditor: Anyone to whom the deceased owed money or obligations at the time of death.

Codicil: A legal amendment or supplement to an existing will.

D

Decedent: The person who has passed away.

Distribution: The process of transferring estate assets to beneficiaries or heirs after debts and taxes are paid.

E

Executor: The individual named in a will to carry out the deceased’s wishes and handle estate administration.

Estate: All property, money, and possessions owned by the decedent at death.

Estate Taxes: Taxes imposed on the transfer of a deceased person’s property before distribution to heirs.

H

Heir: A person legally entitled to inherit under state law when there is no valid will.

I

Intestate: Dying without a valid will. The estate is distributed according to state intestacy laws.

Inventory: A detailed list of all assets and property owned by the decedent.

L

Letters Testamentary / Letters of Administration: Official court documents that authorize the executor or administrator to act on behalf of the estate.

P

Personal Representative: A general term for the executor or administrator managing the estate.

Probate: The legal process of validating a will, settling debts, and distributing the estate.

R

Real Property: Land and anything permanently attached to it, such as a house or building.

Residue (Residuary Estate): What’s left of the estate after specific gifts, debts, and expenses have been paid.

T

Testate: Dying with a valid will in place.

Trust: A legal arrangement in which one party (trustee) manages property for another (beneficiary).

Trustee: The person or institution responsible for managing a trust’s assets according to its terms.

W

Will (Last Will and Testament): A legal document that outlines how a person’s property should be distributed after death.