Estate Terms Glossary

A person appointed by a court to manage a deceased person's estate when there is no will, or when the named executor is unable or unwilling to serve.

A legal document signed under oath that identifies the heirs of a deceased person. Used in some states to transfer property without full probate.

Probate proceedings conducted in a state where the deceased owned property, in addition to the primary probate in their state of residence.

A comprehensive list of all property owned by a person, including real estate, bank accounts, investments, vehicles, jewelry, and personal belongings.

A person or entity named to receive assets from a will, trust, life insurance policy, retirement account, or other financial instrument.

A gift of personal property left to someone through a will. A specific bequest names a particular item; a general bequest specifies a dollar amount.

A legally valid amendment to an existing will. A codicil must be signed and witnessed with the same formalities as the original will.

A court-created legal relationship in which one person (conservator) is appointed to manage the financial affairs of an incapacitated adult.

An official document issued by a government authority certifying the date, location, and cause of a person's death. Required for many estate processes.

The legal term for a person who has died. Used throughout estate law and probate proceedings.

A gift of real property (land or buildings) made through a will. The recipient is called a devisee.

All property, rights, and obligations of a person. At death, the estate includes everything the person owned at the time of passing.

A sale of personal property from a deceased person's home or estate. Estate sales can be in-person events, online auctions, or managed liquidations.

A federal (and sometimes state) tax on the transfer of the taxable estate of a deceased person. The federal exemption in 2026 is approximately $13 million.

A person named in a will to carry out the wishes of the deceased, manage the estate through probate, pay debts, and distribute assets to beneficiaries. Also called a personal representative.

A person or institution obligated to act in the best interest of another. Executors, trustees, and attorneys-in-fact all have fiduciary duties.

The full probate process in Florida, required for most estates. Involves court supervision, creditor notification, and a personal representative appointment.

The person who creates a trust. Also called a settlor or trustor. The grantor transfers assets into the trust during their lifetime or at death.

A person legally appointed to care for a minor child or incapacitated adult. Guardians of minor children are often named in wills.

A person legally entitled to inherit property from a deceased person under state law (intestacy). Not always the same as a beneficiary named in a will.

Dying without a valid will. When someone dies intestate, state law (intestacy laws) determines how the estate is distributed.

A trust that cannot be modified or terminated without the permission of the beneficiary. Often used for estate tax planning or asset protection.

A form of property ownership where two or more people own property with right of survivorship — meaning the surviving owner automatically inherits the deceased owner's share.

Afterly™'s secure digital storage system for estate documents, future messages, trusted contacts, and asset inventory.

A court document authorizing an administrator to act on behalf of an intestate estate. Similar to Letters Testamentary for estates with a will.

A court document authorizing an executor named in a will to act on behalf of the estate.

A document expressing a person's wishes regarding medical treatment if they become incapacitated and cannot communicate. Also called an advance directive.

Florida's term for the person responsible for administering an estate through probate. Equivalent to an executor in other states.

A will that directs any assets not already in a trust to be "poured over" into the trust at death. Works alongside a revocable living trust.

A legal document authorizing one person to act on behalf of another in legal or financial matters. A durable power of attorney remains effective if the grantor becomes incapacitated.

The court-supervised process of authenticating a will, appointing a personal representative, paying debts, and distributing estate assets to beneficiaries.

A trust created during the grantor's lifetime that can be modified or revoked at any time. Assets in the trust typically avoid probate at death.

A simplified probate process in Florida for estates valued under $75,000, or when the decedent has been deceased for more than 2 years.

Dying with a valid will. The estate of a testate person is distributed according to the will, subject to any legal requirements.

A legal arrangement in which a trustee holds assets for the benefit of one or more beneficiaries. Trusts can be revocable or irrevocable, and inter vivos (living) or testamentary.

The person or institution responsible for managing a trust according to its terms and in the best interests of the beneficiaries.

A legal document expressing a person's wishes for the distribution of their property after death. Also called a last will and testament.