Wills and Estates Commonly Used Terms
Administration
The process whereby the assets of the
deceased are distributed in accordance
with the laws of the State because there is
no Will.
Inter Vivos Trust
A trust created by a person during his/her lifetime.
Administration(RIX)
Any person to whom letters of administration
have been issued
Intestate
A person who dies without a Will
Beneficiary
Any person entitled to any part or all of the estate
Legatee
A person named as beneficiary in a Will.
Certificates
Evidence of one’s authority to act on behalf of the
estate issued by the Surrogate’s Court
Letters Testamentary, Trusteeship, Administration or Guardiansip
A certificate issued by the Court to a fiduciary as proof that he/she has the power to act on behalf of an estate, trust, minor or incapacitated adult.
Codicil
A Supplement to a Will, which alters the original
in some way, but does not totally revoke the Will.
Probate
The process whereby the assets of the deceased are distributed in accordance with the terms of the Will of the deceased.
Distributee
A person entitled to share under the laws of New
York State in the state of someone who dies
intestate, without a Will.
Small Estate Administration
A quick and easy procedure to collect and distribute property of the deceased where the value of the estate is less than $20,000.
Executor(RIX)
The person named in the Will to administer the
estate of a person making his/her Will.
Testate
A person dies Testate when he or she dies leaving a valid “Will” and has assets in his or her name alone.  The property a decedent leaves after death is called the decedent’s “estate”.  The person in charge of administering the estate is called “Executor” (male) or “Executrix” (female).  After paying funeral expenses, the executor(rix) must distribute the estate in accordance with the terms of the Will.
Fiduciary
A general term to describe a person who has been appointed to administer an estate.
Testamentary Trust
A trust created by a Will.
Guardian(Ship)
Similar to a fiduciary.  A person who has legal
custody of an infant, under the age of 18 years of
age or of a mentally retarded or incapacitated adult.
Will
A written instrument as prescribed by New York State law to take effect upon death whereby a person disposes of his/her property.
Infant or Minor
A person under the age of 18 years.


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