Inheritance & Probate Glossary: 50+ Terms You Need to Know

This glossary defines 50+ inheritance and probate terms in plain English. Whether you're navigating probate for the first time or trying to understand estate documents, this reference will help you decode the legal jargon.

Terms are organized alphabetically. Use Ctrl+F (or Cmd+F on Mac) to search for specific words.

---

A

Administrator

A person appointed by the court to manage an estate when there is no will, or when the will doesn't name an executor, or when the named executor can't or won't serve. Also called "personal representative" in many states.

Advance on Inheritance

See Inheritance Advance.

Ancillary Probate

A secondary probate proceeding conducted in a state where the deceased owned property but didn't live. If someone lived in Texas but owned a vacation home in Florida, ancillary probate would be needed in Florida.

Assets

Everything of value owned by a deceased person, including real estate, bank accounts, investments, vehicles, personal property, and business interests.

---

B

Beneficiary

A person or organization entitled to receive assets from an estate, trust, life insurance policy, or retirement account. Beneficiaries can be named in a will, trust, or beneficiary designation form.

Bequest

A gift of personal property (not real estate) made through a will. "I bequeath my jewelry to my daughter" is a bequest.

Bond

A type of insurance that protects the estate from mismanagement by the executor. Some wills waive the bond requirement; otherwise, the court may require it.

---

C

Codicil

A legal document that amends or adds to an existing will without replacing it entirely. Codicils must follow the same execution requirements as wills.

Community Property

In nine states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin), property acquired during marriage is generally owned equally by both spouses, regardless of whose name is on the title.

Creditor Claim Period

The window of time during which creditors can file claims against an estate. This varies by state, typically 3-12 months.

---

D

Decedent

The legal term for a person who has died. "The decedent's estate" means "the dead person's estate."

Devise

A gift of real property (land or buildings) made through a will. Compare with "bequest" for personal property.

Distributee

A person entitled to receive assets from an estate under state intestacy laws (when there's no will).

---

E

Escheat

When property passes to the state because there are no identifiable heirs, or when property goes unclaimed for too long.

Estate

All property and assets owned by a person at the time of their death, including real estate, bank accounts, investments, personal belongings, and debts.

Estate Tax

A tax on the transfer of property at death. The federal estate tax applies to estates over $13.61 million (2024). Some states have their own estate taxes with lower thresholds.

Executor

The person named in a will to manage the estate and carry out its instructions. Also called "personal representative" in many states. Female form is "executrix" (rarely used today).

---

F

Fiduciary

A person who has a legal duty to act in the best interest of another. Executors, trustees, and guardians are all fiduciaries.

Forced Heirship

Laws in Louisiana (and some other civil law jurisdictions) that require a portion of an estate to pass to certain heirs regardless of the will's instructions.

Formal Probate

The full court-supervised probate process, typically required for larger or contested estates.

---

G

Guardian

A person appointed to care for a minor child or incapacitated adult. Guardians may be appointed in a will or by the court.

Gross Estate

The total value of all assets owned by the deceased before debts, expenses, and taxes are subtracted.

---

H

Heir

A person legally entitled to inherit property under state law when someone dies without a valid will (intestate). Often confused with "beneficiary," but technically refers specifically to inheritance by law rather than by will.

Holographic Will

A will written entirely in the testator's own handwriting and signed, without witnesses. Valid in some states but not others.

---

I

Independent Administration

A type of probate where the executor can manage the estate with minimal court supervision. Available in many states and typically faster and less expensive than supervised administration.

Informal Probate

A simplified probate process available in some states for uncontested estates. Requires less court involvement than formal probate.

Inheritance

Property or money received from someone who has died, either through a will, trust, or intestacy law.

Inheritance Advance

A cash payment received before probate closes by selling a portion of your expected inheritance to a funding company. Not a loan—repayment comes from the estate, and there's no personal liability. Also called "probate advance" or "estate advance."

Inheritance Tax

A tax paid by the person receiving an inheritance, based on their relationship to the deceased. Only six states have inheritance taxes: Iowa, Kentucky, Maryland, Nebraska, New Jersey, and Pennsylvania.

Insolvent Estate

An estate where debts and obligations exceed the value of assets. Beneficiaries typically receive nothing from an insolvent estate.

Intestate

Dying without a valid will. When someone dies intestate, their property passes according to state law rather than their wishes.

Inventory

A detailed list of all assets in an estate, typically filed with the probate court within a specified time after the executor is appointed.

---

J

Joint Tenancy

A form of property ownership where two or more people own property together with right of survivorship. When one owner dies, their share automatically passes to the surviving owner(s) without probate.

---

L

Legacy

A gift made through a will, particularly a gift of money. Often used interchangeably with "bequest."

Letters of Administration

A court document authorizing an administrator to act on behalf of an estate when there's no will.

Letters Testamentary

A court document authorizing an executor to act on behalf of an estate. This gives the executor legal authority to manage assets, pay debts, and distribute property.

Life Estate

The right to use property during your lifetime, with the property passing to someone else (the "remainderman") upon your death.

---

M

Marital Deduction

An unlimited deduction from estate and gift taxes for property transferred to a spouse who is a U.S. citizen.

---

N

Net Estate

The value of an estate after debts, expenses, and taxes are paid. This is what's available for distribution to beneficiaries.

Next of Kin

The closest living relative(s) of a deceased person. Next of kin are typically first in line to inherit under intestacy laws.

No-Contest Clause

A provision in a will stating that anyone who challenges the will loses their inheritance. Also called an "in terrorem" clause. Enforceability varies by state.

---

P

Per Capita

A method of distributing assets where each surviving beneficiary receives an equal share. Compare with "per stirpes."

Per Stirpes

A method of distributing assets where each branch of a family receives an equal share. If a beneficiary dies before the testator, their share passes to their descendants. Latin for "by the roots."

Personal Property

Everything except real estate: vehicles, furniture, jewelry, bank accounts, investments, etc.

Personal Representative

A general term for the person managing an estate, whether executor (named in a will) or administrator (appointed by court). The preferred term in many states.

Petition

A formal request filed with the probate court, such as a petition to open probate, appoint an executor, or distribute assets.

Pour-Over Will

A will designed to work with a living trust, "pouring" any assets not already in the trust into it upon death.

Power of Attorney

A legal document authorizing someone to act on another's behalf. A power of attorney ends at death—it cannot be used after someone passes away.

Probate

The court-supervised legal process of settling a deceased person's estate, including validating the will, paying debts, and distributing assets to beneficiaries.

Probate Advance

See Inheritance Advance.

Probate Court

The court that handles matters relating to wills, estates, and trusts. Called "Surrogate's Court" in New York and New Jersey, "Orphans' Court" in some states.

---

R

Real Property

Land and anything permanently attached to it, such as buildings. Compare with "personal property."

Remainderman

The person who receives property after a life estate ends.

Residuary Estate

Everything left in an estate after specific gifts have been made and debts paid. "I leave my residuary estate to my children equally."

Revocable Living Trust

A trust created during your lifetime that you can modify or cancel. Assets in a revocable living trust avoid probate.

---

S

Small Estate

An estate that qualifies for simplified probate procedures. The threshold varies by state, typically $25,000-$200,000.

Specific Bequest

A gift of a particular item or amount, such as "my diamond ring" or "$10,000 to my nephew."

Stepped-Up Basis

When someone inherits property, the cost basis "steps up" to the fair market value at the date of death. This can significantly reduce capital gains tax if the property is later sold.

Successor Trustee

The person who takes over managing a trust when the original trustee dies or can no longer serve.

Summary Administration

A simplified probate process available in some states for small estates or when certain conditions are met.

Supervised Administration

Full probate with court approval required for most actions. More time-consuming and expensive than independent administration.

Surrogate's Court

The probate court in New York and New Jersey.

---

T

Tenancy by the Entirety

A form of joint ownership available only to married couples in some states. Similar to joint tenancy with additional creditor protection.

Testate

Dying with a valid will. The opposite of "intestate."

Testator

The person who makes a will. Female form is "testatrix" (rarely used today).

Transfer on Death (TOD)

A designation on an account or deed that specifies who receives the asset upon the owner's death, bypassing probate.

Trust

A legal arrangement where one person (trustee) holds and manages assets for the benefit of another (beneficiary). Trusts can be revocable or irrevocable.

Trustee

The person or institution responsible for managing trust assets according to the trust's terms.

---

U

Undue Influence

Pressure or manipulation that causes someone to change their will against their true wishes. A common ground for will contests.

Uniform Probate Code (UPC)

A model law adopted in whole or part by many states to standardize probate procedures.

---

W

Will

A legal document specifying how a person wants their property distributed after death. Also called a "last will and testament."

Will Contest

A legal challenge to the validity of a will, typically claiming the testator lacked capacity, was unduly influenced, or the will wasn't properly executed.

Witness

A person who observes the signing of a will and signs the will themselves to verify its authenticity. Most states require two witnesses.

---

Understanding These Terms

Probate and estate terminology can be overwhelming, especially during a difficult time. This glossary covers the most common terms, but if you encounter unfamiliar legal language, don't hesitate to ask the executor, attorney, or court clerk for clarification.