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Difference between revisions of "Glossary for Being an Executor"
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Glossary for Being an Executor (view source)
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{{REVIEWEDPLS | reviewer = [[Stephen Hsia|Stephen Hsia]]|date= January 2019}}{{ | {{REVIEWEDPLS | reviewer = [[Stephen Hsia|Stephen Hsia]]|date= January 2019}}{{Being an Executor TOC}} | ||
;Administrator: A person appointed by the court to deal with an estate where the executor is unable or unwilling to act, or there is no valid will. | ;Administrator: A person appointed by the court to deal with an estate where the executor is unable or unwilling to act, or there is no valid will. | ||
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;Beneficiary: A person who is to receive money or property in a will, benefit plan, or insurance policy. | ;Beneficiary: A person who is to receive money or property in a will, benefit plan, or insurance policy. | ||
Debts: Money that a person owes. For example, a credit card balance, a car loan, or a mortgage. | |||
;Debts: Money that a person owes. For example, a credit card balance, a car loan, or a mortgage. | |||
;Estate: All of the property and belongings a person owns upon their death, with some exceptions. The estate does not include property owned with someone else jointly (such as a joint bank account) or property that has a designated beneficiary (such as an insurance policy). | ;Estate: All of the property and belongings a person owns upon their death, with some exceptions. The estate does not include property owned with someone else jointly (such as a joint bank account) or property that has a designated beneficiary (such as an insurance policy). | ||
;Executor: The person named in a will to carry out the instructions in the will and settle the will-maker’s affairs after they die. | ;Executor: The person named in a will to carry out the instructions in the will and settle the will-maker’s affairs after they die. | ||
Grant of probate: A document issued by the court in a probate application certifying that the will submitted by the executor is legally valid and can be acted on. | |||
;Grant of probate: A document issued by the court in a probate application certifying that the will submitted by the executor is legally valid and can be acted on. | |||
;Intermeddle: To interfere in the affairs of others. In the context of an estate, to deal with the assets or liabilities of the deceased. | ;Intermeddle: To interfere in the affairs of others. In the context of an estate, to deal with the assets or liabilities of the deceased. | ||
