Intro to Wills Flashcards
1
Q
Decedent
A
Dead Person
2
Q
Descendant
A
Children, grandchildren, etc.
3
Q
Ascendant/Ancestor
A
Parents, grandparents, etc.
4
Q
Collateral heir
A
Relatives who stem from a common ancestor, like siblings or cousins
5
Q
Testator
A
The person whose assets are being disposed of by will
6
Q
Probate
A
The legal process by which a person’s assets and legal obligations are resolved, after death.
7
Q
Testamentary gift or devise
A
Assets disposed of by will
8
Q
Devisee or beneficiary
A
One who inherits assets from an estate
9
Q
Specific gift
A
A specific devise of money or property to a particular individual
10
Q
Residual estate
A
All property in the estate that was not devised to particular individuals
11
Q
Personal representative
A
The person who manages the probate process
