Probate Ch 6

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Author:
Anonymous
ID:
39241
Filename:
Probate Ch 6
Updated:
2010-10-03 03:41:03
Tags:
Probate
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Description:
Probate Ch 6
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  1. Probate
    (a) The process of a court admitting a will as valid or (b) The process of administering a decedent's estate
  2. Estate Administration
    The process of managing a decedent's property under court supervision; it includes collection of decedent's assets, payment of debts and taxes, and distribution of remaining property
  3. Formal Probate
    A proceeding before a judge to determine if the decedent left a valid will
  4. Informal Probate
    A process supervised by a court official to probate a will or appoint a personal representative
  5. Personal Representative
    Also known as administrator or executor; a legal representative who is appointed by the court to administer the decedent's estate
  6. Executor
    A person nominated in the will to carry out the gifts and directions contained in the will.
  7. Administrator
    The court appointed legal representative, not named in the will, who manages the administration of the decedent's estate
  8. Bond
    Promise of a guarantor to pay the estate if the personal representative fails to properly administer the decedent's estate
  9. Surety
    One who promises to pay money if the personal representative fails to properly administer the decedent's estate

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