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 Accounting:- To
give a financial account of an estate of a deceased person, incompetent
person or a minor.
- Administrator:
- A
person appointed by a probate court to manage the distribution
of the assets in the estate of a person who died without leaving
a valid Will or leaving a Will that does not name an executor
able or willing to serve in that capacity.
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Beneficiary:
- A
person or entity that receives a benefit from a promise, agreement
or contract.
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- Conservator:
- A
person, official or institution appointed by the court to take
over and manage the person and/or estate of an incompetent person.
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- Conservatee:
- An
individual who is incompetent or unwilling to manage his or her
estate or care for his or her person.
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- Conservatorship:
- A
court proceeding. The process of protecting the person and/or
estate of an incompetent person.
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- Decedent:
- A
deceased person.
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- Estate:
- The
assets and liabilities left by a person at death.
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- Executor:
- A
person named by a testator to execute or carry out the instructions
in a Will.
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- Heir:
- One
who inherits or is entitled to succeed to the possession of property
after the death of its owner by will or by operation of law.
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- Guardianship:
- The
process of protecting the person and/or estate of an individual
who has not yet reached the age of majority.
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- Guardian:
- One
who has or is entitled or legally appointed to the care and management
of the person and/or property of a minor.
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- Minor:
- A
person who has not yet reached the age of majority.
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- Probate:
- The
process of administering the estate of a deceased person.
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- Trust:
- A
fiduciary relationship in which one party holds legal title to
another's property for the benefit of a party who holds equitable
title to the property.
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- Trustee:
- A
natural or legal person to whom property is committed to be administered
for the benefit of a beneficiary (as a person or charitable organization);
the holder of legal title to property placed in a trust.
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- Trustor:
- Settlor
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- Will:
- A
legal declaration of a person's wishes regarding the disposal
of his or her property after death.
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