wills

Ab intestato

Definition

A Latin term meaning "by intestacy." The term refers to laws governing the succession of property after its previous owner dies without a valid will.

AB Trust

Definition

An irrevocable trust created by a married couple to avoid probate and minimize federal estate tax. An AB trust is created by each spouse placing property into a trust and naming someone other than his or her spouse as the final beneficiary of...

Accretion

1) in real estate, the increase of the actual land on a stream, lake or sea by the action of water which deposits soil upon the shoreline. Accretion is Mother Nature's little gift to a landowner. Compare to avulsion and alluvion.

2) In estates,...

Adeem

See: Ademption

Ademption

The failure of a bequest from a will because the property is no longer in the estate. For example, if the decedent leaves "My car to my niece", but owns no car at the time of death.

What the beneficiary actually receives in these situations...

Ademption by Extinction

Ademption by extinction occurs when a testator devises a specific piece of property in his will and the testator no longer owns that property at his death. That specifically devised property is therefore adeemed, and the devise fails.

Ademption by Satisfaction

The doctrine of ademption by satisfaction provides for the situation in which a testator decides to change the timing of a gift in order to permit the beneficiary to enjoy the benefits of the gift before the testator’s death. If a pecuniary gift is...

Administer

Administer means to carry out a task or give something to someone. Administer appears in a variety of contexts in the legal field. For example:

A trustee administers the assets of an estate by dispersing, selling, or managing the...

Administration (of an Estate)

Administration of an estate means the management of the assets and liabilities of someone who has died. When a person has not designated a personal representative by will to deal with their estate upon death, the court will appoint an administrator to...

Administrator

Someone appointed by a court to manage the assets and liabilities of someone who died intestate.

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