Administrator/administratrix- court-appointed representative for a decedent.
Beneficiary- party for whose benefit a trust is managed; also, recipient of the amount to be paid under an insurance policy.
Charitable trust- created for the fulfillment of an altruistic purpose.
Constructive trust-created to require a person holding property to transfer it to another because retention would be a wrongful and unjust enrichment of the holder.
Decedent- person who dies.
Escheat-reversion of property to the state.
Estate-bundle of ownership rights in, and powers over, realty; also, property of the deceased.
Executor/executrix-interstate’s personal representative appointed to settle the estate.
Express trust- trust in which the terms are explicitly stated by the settler.
Holographic will- will written and signed entirely by the maker.
Inter vivos trust-trust created during the lifetime of the settlor.
Intestate- to die without a will.
Nuncupative will-orally made will.
Private trust- trust created for private reasons.
Resulting trust-implied trust formed to hold property for the original owner.
Settlor-creator of a trust.
Spendthrift trust-trust created to protect the beneficiary’s interest in a property for the beneficiary’s creditors.
Testamentary intent-clear intention to make a will.
Testamentary capacity-testator must know the kind and extent of property involved, persons who stand to benefit, and that he or she is making an arrangement to dispose of his or