Definitions Flashcards
Deceased person
decedent
decedents probate estate
the realty and personalty that transfer a death w/ or w/o a will
Non-probate assets are items not falling into probate, such as:
- Transfers made during life (will substitutes)
- Joint tenancy property w/ right of survivorship
- life insurance proceeds (pass outside of probate)
- Pension plans, and
- Trusts
Exception: can turn any non-probate into probate if you name the estate as the B.
if a person dies w/ a will
Testate
If a person dies testate, the person writing the will is the
Testator
A devise (to a devisee) means
A testamentary disposition of property
A person who dies w/o a will
dies intestate
Partial intestacy is
when you have a will that fails to distribute all of the property. the remaining will pass under intestacy.
Process of distributing intestate property
estate administration
Personal representative
executors of probate estates, administrators of intestae estates, administrators w/ the will annexed and county admins.
executor
person who is named in the will and qualified to serve
Administrator with will annexed
person appointed by the court even though the T had a will
county admin
appointed by the probate court to administer an unrepresented estate.
Heirs
persons, including the surviving spouse and the state who are entitled under the statutes of intestate succession to the prop of a decedent (essentially, relatives and spouse)
Issue/descendant
all lineal descendants from an ancestor in any degree
