Probate Terminology

A person, or financial institution, appointed by the court to oversee an estate where there is no will. The Administrator is also commonly referred to as the Personal Representative.

A person who inherits property because he or she is named in a will or trust.

An insurance policy that, unless waived by a Will or Trust (and agreed to by the judge in the case of a Will), is required by the courts. The amount of the bond is determined by the type of authority sought by the Petitioner and the value of the property that is estimated to exist in the estate. Larger bonds require a good credit rating.

A document which legally changes a will through supplement or amendment.

The Probate Division of the Superior Court supervises the probate procedure, but they do so according to their rules and definitions. For example, most actions by the Estate Personal Representative are only reviewed by the court at the end of the process, upon the filing of the Report, Account, and Petition for Final Distribution.

A person who has passed a way.

A decedent’s total assets, both real and personal, which are managed by the Personal Representative.

The person named in the will to carry out the directions as set forth in the will. The Executor is also commonly referred to as the Personal Representative. Traditionally, a woman serving in that capacity was called an Executrix.

A person who inherits through the laws of intestacy when there is no will.

Without a will.

The court document issued to a person authorizing them to act as the administrator when there is no will.

The court document issued to a person authorizing them to act as the Executor when named in will.

A Living Trust is a trust that can be changed during the lifetime of the Settlors.

A person, or financial institution, appointed to oversee an estate whether as executor, administrator or administrator with will annexed.

The person bringing a Petition before the court. Usually the person seeking to be made the Estate Personal Representative.

The set of laws that controls the process of probating estates, trust administration, and other probate related matters.

A person licensed by the State and appointed by the probate court judge to appraise property held by an estate. The term referee does not mean they decide any other types of issues during a probate.

A revocable trust is the same as a living trust. It can be changed during the lifetime of the settlors.

Synonymous with Trustor, this is the person or persons who set up the trust and contributed the money and/or property to it.

Fees paid to an Executor or Estate Administrator calculated upon a schedule in the Probate Code. They are based upon the estate’s gross value regardless of mortgages or other debts. If the Executor is also the sole beneficiary, they may want to waive those fees. Contact OrangeCountyProbate to find out why.

Attorney fees calculated upon a schedule in the Probate Code. They are based upon the estate’s gross value regardless of mortgages or other debts.

A person who dies with a valid will dies testate and the estate is disposed by according to the will.

A legal entity, somewhat like a corporation, that holds property and directs how and when the property can be distributed or spent.

The Person or Persons who administer the Trust. They may be the initial Settlors, or they can be someone else who was named or succeeded to the position.

Synonymous with Settlor, this is the person or persons who set up the trust and contributed the money and/or property to it.

A document which directs the disposition of a person’s property after death. It becomes legally operative after the court orders the will into probate and issues Letters Testamentary.