Accounting: A report that contains what has come into the estate account and what has gone out of the estate account.
Affidavit of Collection: A way to handle the assets under $10,000 and it cannot include any real estate.
Beneficiary: A person that receives assets that were left to them from the decedent.
Bond: Bond is required for appointment as a Special Administrator, a Personal Representative of an intestate estate, non-resident Personal Representative unless bond is expressly excused in the Will and when a named Personal Representative is expressly required by the Will to post a bond. Additionally, an interested party may demand bond
Bond may be waived: (1) if the Personal Representative certifies by an affidavit (ask for form) that the gross estate value will be less than $20,000.00, assets are sufficient to pay all claims, and that the Personal Representative agrees to be personally liable to any interested party for any negligence or misconduct in the performance of his/her duties AND (2) if all known beneficiaries execute written statements (ask for form) that they agree to the bond being waived.
Certified: A true copy of a document from our Court complete with a seal. Our office cannot certify any document that does not originate from our Court.
Decedent: The person who died.
Devisee: Someone who is named in a Will to receive.
DOD: Deed of Distribution (Transfers real estate to the legal heirs or devisees).
Domiciled: Where the person lived.
Encumbrances: Debt of the estate that is attached to an asset. Example: Mortgage on a house, loan on a car, etc. (NOT everyday debt like doctor bills, credit card payments, etc.)
Heir: Someone who receives from an estate if there is no Will.
I/A: Inventory and Appraisement (Yellow Form) – Listing the assets that the decedent had in his/her name at time of death.
Intestate: When someone dies without a Will.
Non-Probate Assets: Assets that are not used by the Personal Representative to pay debt of the estate or to distribute to heirs or devisees. These assets usually have a beneficiary, payable on death, or joint right of survivorship status.
Power of Attorney: A legal document that allows another party to handle the business affairs of someone else.
PR: Personal Representative (Executor): Person in charge of handling the estate.
Probate: The legal process of handling a decedent’s affairs. This includes distributing their assets after death.
Probate Assets: Assets that are used by the Personal Representative to pay debt of the estate or to distribute to heirs or devisees. These assets do not automatically go to another party at time of death.
Pro Se: Someone who defends himself without an attorney.
RTSC: Rule To Show Cause – being summoned to court to tell the Judge why you have not complied with the duties of Personal Representative.
Rule 4: Administratively closing an estate by Court order.
Special Administrator: A person that takes the place of a personal representative to handle the estate.
Testate: When someone dies with a valid Will before death.
Venue: Where someone lives.
Will: A legal document that states the wishes of a person at the time of his/her death.
Will Books: Recorded transcripts of original probate Wills that give information about proving the Will and qualifying the personal representative.
Will For Record: When a party files an original Will with the Court after someone dies and there are no assets to transfer.
