Law Offices of Elizabeth A. Edwards
462 Danbury Road
Wilton
CT 06829
P.O. Box: 936
Georgetown
CT 06829

Estate Planning Glossary

Probate - Broadly, a characterization of the functions of the probate court, whether it be the probate of a will, the approval of the accounts of an administrator of a decedent's estate, or arty other judicial act within the province of the court, including guardianships, conservatorships, and the like.

Will - A written declaration of a person's wishes concerning the distribution of property standing in his or her name after death, executed in accordance with specific legal procedures.

Codicil - An amendment or addition to a will.

Testate - Referring to the estate of a deceased person who leaves a will at death.

Intestate Fiduciary - Referring to the estate of a deceased person who dies without leaving a will. One who holds property in a position of trust for another, such as an executor, administrator, trustee, guardian, or conservator.

Executor - A person named in a will to manage and settle an estate and to carry out the directions and mandates of the decedent.

Administrator - A person who has been named by the probate court to administer and settle the estate of a decedent who dies without leaving a will. The estate will be settled in accordance with the laws of descent and distribution, which are also known as the laws of intestacy.

Trust - Property, real or personal, held by one party for the benefit of another.

Guardian - A person given the power and duty by a probate court to manage the property or provide for the care of the person of a minor child or person with mental retardation

Conservator - A person named by the probate court to supervise the affairs of another person who is incapable or who needs assistance in managing his/her affairs or caring for himself/herself.

Probate Bond - A promise by a fiduciary, usually guaranteed by a third party known as a surety, to replace any funds up to the amount of the bond to fulfill the faithful performance of his/her duties. Often, the surety is an insurance company.

Real Property - Real estate such as a home, land, or farm, including the ownership of a condominium unit.

Personal Property - Property not classified as real property, such as bank accounts, shares of corporate stock, bonds, automobiles, household furnishings and personal effects.

 

At The Law Offices of Elizabeth A. Edwards, LLC, I represent clients throughout Fairfield County, including Georgetown, Ridgefield, Danbury, Wilton, Weston, Redding, Westport, Fairfield, Norwalk, Easton, Trumbull, Bethel, Newtown, Darien, New Canaan, Stamford and Greenwich, Connecticut.

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