Estate & Probate

Reduction or elimination of gifts in a will when the estate doesn't have enough money to pay all debts and bequests.

When a specific gift in a will is removed or no longer exists at the person's death.

A will gift fails because the estate lacks the money or property to pay it.

A gift during life counts toward reducing what a beneficiary receives from a will.

A person appointed by the court to manage an estate when there is no will.

A person or organization entitled to receive money or property from a trust, will, or insurance policy.

A gift of personal property left to someone in a will.

A trust that provides income to beneficiaries while ultimately donating the remaining assets to charity.

A written amendment or addition to an existing will.

A relative who is not a direct descendant, such as a sibling, aunt, uncle, or cousin.

A gift of real property, such as land or a house, made through a will.

A legal refusal by a beneficiary to accept an inheritance or gift.

A surviving spouse's right to claim a portion of the deceased spouse's estate despite the will.

Property passes to the state when a person dies with no will and no heirs.

A federal tax on the total value of a deceased person's estate.

The person appointed to carry out the instructions in a will.

Complete ownership of property with no restrictions or time limits.

A federal tax on gifts or inheritances that skip a generation, preventing tax avoidance.

A federal tax on money or property given to another person during your lifetime.

The person who creates a trust and transfers property into it.

A court-ordered arrangement where one person has legal authority to care for another who cannot care for themselves.

A person legally entitled to inherit from someone who dies without a valid will, determined by state law.

A will written entirely in the testator's own handwriting without witnesses.

A will provision that punishes beneficiaries who challenge the will by cutting off their inheritance.

The legal process of distributing a deceased person's property when they leave no valid will.

A trust that cannot be changed, modified, or terminated once created without beneficiary consent.

All direct descendants of a person, including children, grandchildren, and great-grandchildren.

The right to use and enjoy property during someone's lifetime only.

A document stating your wishes about life-sustaining medical treatment if you become unable to communicate.

A federal tax benefit allowing unlimited transfer of property between spouses without estate or gift tax.

The closest living relative or relatives of a deceased person, determined by law.

Property that passes to beneficiaries outside the probate process, bypassing court involvement.

A way of dividing an inheritance equally among all living beneficiaries at the same level, regardless of family branches.

A way of dividing an inheritance by family branch, where each branch gets an equal share regardless of how many people are in it.

A legal document authorizing someone to act on your behalf in financial or medical decisions.

The court process of validating a will and distributing a deceased person's estate.

The court that oversees the validation and execution of wills and estate administration.

Property owned by a deceased person that passes through the court-supervised probate process.

A trust that lets a surviving spouse receive income while preserving assets for other heirs.

The right to receive property after someone else's temporary interest ends.

The right to reclaim property when someone else's temporary interest ends.

A trust that the grantor can modify, amend, or terminate during their lifetime.

A legal rule preventing trusts from lasting forever and tying up property indefinitely.

Property owned by one spouse individually, not subject to division in a divorce or affected by the other spouse's debts.

A trust that restricts a beneficiary's ability to spend or transfer their inheritance to creditors.

The legal and mental ability required to make a valid will or trust.

A trust created within a will that takes effect after the person dies.

The actual money, property, or assets that make up a trust.

Money earned by trust assets, such as interest, dividends, or rental payments.

The legal document that creates a trust and outlines how assets will be managed and distributed.

The location where a trust is administered and its legal proceedings take place.

The person or institution legally responsible for managing assets held in a trust.