A
Administration
The formal and legal term for dealing with the estate.
Administrator
The person appointed to administer an estate where there is no valid will, or where the executor is unable, or unwilling, to act.
Asset
Property, money or possessions that belonged to the deceased.
B
Beneficiary
A person who inherits all or part of the money or property from someone who has died.
C
Certified Death Certificate/US Consular Report of Death of US Citizen Abroad/Apostille Copy of Foreign Death Certificate with Certified Translation of the decedent
The legal document issued when a person dies.
Codicil
This is a written amendment making changes to an existing will.
D
Domestic partner
A domestic partnership does not confer any of the myriad rights and responsibilities of marriage afforded to married couples by the federal government. Domestic partnerships in the United States are determined by each state or local jurisdiction, so there is no nationwide consistency on the rights, responsibilities and benefits that apply to domestic partners.
E
Estate
The total value of everything owned by a person when they died – money, property and possessions.
The 'estate' or 'gross estate' often describes the total value of the estate while the 'net estate' describes what remains for distribution to the beneficiaries after taxes, debts and other outgoings have been paid.
Executor
The person(s) named in a will who is the personal representative of the deceased. The executor is legally responsible for gathering the deceased’s estate, accounting for it and distributing it, as well as being responsible for making sure the wishes of the person who died are carried out.
I
Informant
The informant is the person who notifies the bank of the death of a customer. This may be a personal representative, a family member, friend or relative.
Intestacy
When someone has died without having made a valid will, or where the will does not deal with all the deceased assets. A person who dies without having made a valid will is known as having died ‘intestate'.
L
Letters of administration
This is issued by the Surrogate’s Court or other relevant court where the deceased did not make a will or no valid will exists. The document names the person(s) who are legally appointed to administer the deceased person's estate.
Letters of Testamentary
This is a legal document issued by the Surrogate’s Court or other relevant court confirming that a deceased person's will was valid and names the executor(s) who are legally appointed to administer the deceased person's estate as set out in the will.
N
Next of kin
The closest related family member(s) of a person who has died. This is normally their spouse, parents or children.
P
Personal representative
The person who is responsible for dealing with the estate, like the executor or administrator.
Probate
The legal term for the court process for validating someone’s last will and testament.
T
Testator
The person who makes a will.
W
Will
A document that states what someone would like to happen to their assets when they die. Also sometimes referred to as 'last will and testament'.