COURT-SUPERVISED DISTRIBUTION OF AN ESTATE DURING PROBATE
ADMINISTRATION
BASICALLY, ANYTHING YOU OWN, INCLUDING YOUR HOME, & OTHER REAL ESTATE, BANK A/C'S, LIFE INSURANCE, INVESTMENT, AND INTANGIBLE ITEMS
ASSETS
WHAT YOU PAID FOR AN ASSET
BASIS
A WRITTEN CHANGE OR AMENDMENT TO A WILL
CODICIL
TO DISPUTE OR CHALLENGE THE TERMS OF A WILL OR TRUST
CONTEST
AN INSTITUTION, LIKE A BANK OR TRUST COMPANY, THAT SPECIALIZES IN MANAGING TRUSTS
CORPORATE TRUSTEE
PERSON OR INSTITUTION TO WHOM MONEY IS OWED
CREDITOR
ONE WHO HAS DIED
DECEASED
DOCUMENT THAT LETS YOU TRANSFER TITLE OF YOUR REAL ESTATE TO ANOTHER PERSON
DEED
PAYMENT IN CASH OR ASSETS TO ONE WHO IS ENTITLED TO RECEIVE IT
DISTRIBUTION
TO PREVENT SOMEONE FROM INHERITING FROM YOU
DISINHERIT
THE CURRENT MARKET VALUE OF AN ASSET LESS ANY LOAN OR LIABILITY
EQUITY
ASSETS AND DEBTS LEFT BY AN INDIVIDUAL AT DEATH
ESTATE
PERSON OR INSTITUTION NAMED IN A WILL TO CARRY OUT ITS INSTRUCTIONS
EXECUTOR
PERSON HAVING THE LEGAL DUTY TO ACT PRIMARILY FOR ANOTHER'S BENEFIT
FIDUCIARY
TRANSFER FROM ONE INDIVIDUAL TO ANOTHER WITHOUT FAIR COMPENSATION
GIFT
PERSON WHO SETS UP OR CREATES THE TRUST
GRANTOR
ONE WHO IS ENTITLED BY LAW TO RECEIVE PART OF YOUR ESTATE
HEIR
HANDWRITTEN WILL
HOLOGRAPHIC WILL
WITHOUT A WILL
INTESTATES
HUSBAND OR WIFE
SPOUSE
AN ENTITY THAT HOLDS ASSETS FOR THE BENEFIT OF CERTAIN OTHER PERSONS OR ENTITIES
TRUST