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A trust that gives the person managing it (the trustee) the discretion to disburse its funds among the beneficiaries in any way he or she sees fit.
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes (more...)
The person named in a will to handle the property of someone who has died. The executor collects the property, pays debts and taxes, and then distributes what's left, as specified in the will. The executor also handles any probate court proceedings and notifies people and organizations of the death. Also called personal representatives.
Under some state's probate codes, all relatives of a deceased person.
A person who receives benefits, under a trust or by will, for his or her lifetime. For an example, see AB trust.
surviving spouse's trust
If a couple has created an AB trust, the revocable living trust (Trust B) of the surviving spouse, after the first spouse has died.
One who expects to be receive property from the estate of a family member, as long as she outlives that person.
The person or institution who takes over the management of trust property when the original trustee has died or become incapacitated.
The condition of dying without a valid will. The probate court appoints an administrator to distribute the deceased person's property according to state law.
A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is (more...)
A will that is created in a way that allows a probate court to easily accept it as the true will of the person who has died. In most states, a will is self-proving when two witnesses sign under penalty of perjury that they observed the willmaker sign it and that he told them it was his will. If no one contests the validity of the will, the probate court will accept the will without hearing the testimony of the witnesses or other evidence. To make a self-proving will in other states, the willmaker and one or more witnesses must sign an affidavit (sworn statement) before a notary public certifying that the will is genuine and that all willmaking formalities have been observed.
... The principal issue on appeal is whether the district court had jurisdiction to render summary
judgment when similar bill of review proceedings and applications 497 for determination
of heirship were pending in the probate court. ... 3. Probate Code. ...
... The will also named Green and his wife the guardians of Gaines's children. Davis did not submit
an application to probate Gaines's will for over three years after Gaines's death. ... In response, Davis
submitted an application to probate Gaines's will on October 13, 2006. ...
... They appeal from an order of the probate court denying them relief in their complaint regarding
an amended inventory filed by the independent executor of the deceased's estate. ... Beasley filed
an application to probate the deceased's will on August 18, 2003. ...