Deceased Account Terminology Crossword

The individual who has died on the account.
The individual appointed to manage the assets of a deceased individual. In the case of deceased accounts, this is the executor or administrator.
A person or persons designated on an account to receive the funds upon the owner’s death.
Legal process in which a will is reviewed to determine whether it is valid.
NYS Court that hears cases involving the affairs of decedents, including the probate of wills and administration of estates.
Process that occurs when an individual dies, where their assets are collected and distributed.
A legal document indicating how a decedent’s assets are disbursed upon their death. This is made valid when submitted into probate.
Official documents issued by the Surrogate’s court when a will is entered into probate. These letters name an executor/executrix of an estate.
Official documents issued by the Surrogate’s court when there is no will. These letters name an administrator of an estate.
An individual appointed by the Surrogate’s court through letters of testamentary to manage the funds of an estate
An individual appointed by the Surrogate’s court through letters of administration to manage the funds of an estate.
Document issued by the county certifying that an individual is deceased. This document is used to verify the identity of the decedent and the date they died.
A signed provided by a beneficiary, executor or next of kin, indicating how funds should be handled or disbursed.
A process in which funds are returned to an agency, if received following a decedent’s date of death
Documents giving someone certain rights to act on behalf of another individual due to some form of incapacitation or inability to act in their own right while living. These documents are null at the time of an individual’s death.
This is sometimes known as a payable upon death or in trust for account. This is a sole or joint owned account with listed beneficiaries. The funds are managed by the account owners until both have deceased, at which point the funds belong equally to each beneficiary.
An official process in which an individual or multiple individual’s funds are placed in a separate entity for the purpose of managing their money while still alive and providing for the management and disbursement of their money upon death.
An individual or individuals who create the trust and are the owner of the assets place in the trust.
Individual or individuals who manage the funds within the trust and are responsible for transacting on the trust.
This process allows the credit union to transfer funds to cover a debt or negative balance owed to the financial institution.