Conservator – where a fiduciary who is appointed to protect and conserve the assets of an incapacitated person, or a minor child.
Devisees – persons who are to receive property according to a will.
Fiduciary – a person who has been appointed to manage another person’s affairs, and owes that person a duty of good faith, trust, confidence, and truthfulness.
Guardian – a fiduciary who is appointed to protect and care for the health and well-being of an incapacitated person, or a minor child.
Heirs - persons who are related to the decedent, and would inherit the estate under the laws of intestacy.
Intestate – where a person has died without a will. State laws govern how the estate will be divided.
Letters Testamentary/of Administration/of Guardianship/Conservatorship – these are letters issued to the fiduciary by the court as evidence that they have been duly appointed.
Personal Representative – the person who has been appointed by the Court to act as a fiduciary to administer the estate.
Power of Attorney – a document that one person (grantor) uses to grant authority to another person to act as grantor’s agent or attorney-in-fact. This is done outside the authority of the court, and any authority granted ends once the grantor dies.
Probate – a legal process where a court oversees the distribution of assets left by a deceased person.
Small Estate Affidavit – is a document that starts a process that is shorter and less expensive than the probate process.
Trustee – a fiduciary who has been appointed to administer the assets of a trust. This fiduciary must follow the directions in the trust document, and owes a duty to the beneficiaries of the trust.