Legal Terms
Below are some common legal terms and their meaning.
Beneficiary
A person who is included in the deceased’s Will and receives money or other benefits upon their passing.
Distribution of Assets
How an individual’s belongings, property and other assets will be divided upon their death.
Estate
The money and property owned by a person.
Executor
The person chosen to administer someone’s will.
Inheritance
The acquisition of assets from a family member who has passed.
Intestate
When someone dies without leaving a will. When this happens, your assets will be distributed according to the laws of intestacy.
Litigation
The process of taking legal action.
Probate
Probate is the legal process of administering the estate of a deceased person. This includes identifying and collecting the deceased person’s assets, paying any debts and taxes, and distributing the remaining assets according to the terms of the deceased person’s will or, if there is no will, according to the laws of the state where the deceased person lived. The probate process can be complex and time-consuming, and is typically handled by an executor or administrator who is appointed by the court. Obtaining a grant of probate, which is a court order that confirms the validity of the will and appoints the executor, is often a necessary step in the probate process.
Probate Requisition
The Court will issue a requisition when an applicant has not fulfilled at least one of the requirements for a probate application. A probate requisition forces the executor to provide additional documentation or to amend existing documents. Even if the initial application is completed correctly, a requisition may still be issued if the Court requires further information to clarify certain aspects of the application.
Testator
The person who makes a will.
Will
A legal document that ensures your assets will be distributed according to your wishes when you die.
