The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. I... (more...)

The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the 'personal representative' in either instance.

HEIR APPARENT

One who expects to be receive property from the estate of a family member, as long as she outlives that person.

FAMILY POT TRUST

See pot trust.

ACCUMULATION TRUST

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nic... (more...)

A trust in which the income is retained and not paid out to beneficiaries until certain conditions are met. For example, if Uncle Pierre creates a trust for Nick's benefit but stipulates that Nick will not get a penny until he gets a Ph.D. in French; Nick is the beneficiary of an accumulation trust.

CHARITABLE TRUST

Any trust designed to make a substantial gift to a charity and also achieve income and estate tax savings for the person who creates the trust (the grantor).

CERTIFICATION OF TRUST

See abstract of trust.

WARRANTY DEED

A seldom-used type of deed that contains express assurances about the legal validity of the title being transferred.

SAMPLE LEGAL CASES

In re Estate of Davis

... In this interlocutory appeal, the administrator of the estate of the decedent argues that a petition for probate, filed more than two years after the probate of an earlier will, is time-barred by Tennessee Code Annotated section 32-4-108, and, therefore, the trial court erroneously ...

In re Estate of Ridley

... J., joined. The issues in this appeal are whether the probate court's order construing the decedent's will was a final judgment and, if so, whether the appellee's notice of appeal was timely. ... The probate court entered an order construing the will on September 17, 2004. ...

GEORGIA O'KEEFFE FOUNDATION v. Fisk Univ.

... Mr. Stieglitz's Last Will and Testament was admitted to probate in the Surrogate's Court of New York County, New York, on September 13, 1946, at which time his widow, Georgia O'Keeffe, was appointed Executrix of the estate. ...

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LEGAL TERMS

TESTAMENTARY TRUST

CREDIT SHELTER TRUST

ADMINISTRATION (OF AN ESTATE)

HEIR APPARENT

FAMILY POT TRUST

ACCUMULATION TRUST

CHARITABLE TRUST

CERTIFICATION OF TRUST

WARRANTY DEED

SAMPLE LEGAL CASES

In re Estate of Davis

In re Estate of Ridley

GEORGIA O'KEEFFE FOUNDATION v. Fisk Univ.

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