Terminology Flashcards
What is a decedent?
The decedent is the person who died
What is a testator?
A testator is a person who dies with a will
What does “issue” mean?
An “issue” is a person’s lineal descendants; lineal descendants are the direct descendants of a person – children, grandchildren, etc.
What is an heir?
A heir a person who may legally receive property or assets from a deceased person’s estate when there is no will or trust in
place
What does intestate mean?
Intestate means the estate owner died without a will
What does testate mean?
Testate mean the estate owner died with a will
What is a will?
A will is an instrument that is revocable during the testator’s lifetime, and effective at the testator’s death, that shows the testator’s present intent to dispose of her property
What is a beneficiary?
A beneficiary is a person named by the estate owner to receive property or assets from the estate
What is the difference between an heir and a beneficiary?
- an heir entitled to inheritance by law if there is no will, but a beneficiary is someone named by the decedent to receive property or assets
- E.g. the local animal shelter is a testamentary beneficiary because the only way the shelter can take is via the will (Cannot be an heir)
- E.g. your children are your heirs
What does unattested mean?
unattested means that no third party witnessed the signing of the will or formally established the will’s authenticity
What does bequest mean?
A bequest is a gift of personal property that is given in a will or a trust
What does devise mean?
A devise is a gift of real property that is given in a will or a trust
What does UPC stand for?
UPC stand for the Uniform Probate Code
