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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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;Beneficiary: A person designated to receive money or property in a will, benefit plan, or insurance policy. | ;Beneficiary: A person designated to receive money or property in a will, benefit plan, or insurance policy. | ||
;Debts: What the deceased owed at death. These may include credit card balances, loans, and mortgages. Also called | ;Debts: What the deceased owed at death. These may include credit card balances, loans, and mortgages. Also called “liabilities”. | ||
;Estate: All of the property and belongings owned by the deceased, with some exceptions. The estate does not include property owned with someone else jointly (such as a joint bank account) or property which has a designated beneficiary (such as an insurance policy). | ;Estate: All of the property and belongings owned by the deceased, with some exceptions. The estate does not include property owned with someone else jointly (such as a joint bank account) or property which has a designated beneficiary (such as an insurance policy). | ||
