Related Words

Decedent: A deceased person, especially one who has died recently.

Income In Respect Of A Decedent: Any income your beneficiary receives after your death that would have gone to you if you were still alive is described as income in respect of a decedent. One example is the income your bene . . . View Full Definition

Joint Tenancy: An estate or unit of interest in real estate that is owned by two or more natural persons with rights of survivorship. The basic idea of a joint tenancy is unity of ownership, title is held . . . View Full Definition

Probate: Probate is the process of authenticating, or verifying, your will so that your executor can carry out the wishes you expressed in the document for settling your estate and appointing a guard . . . View Full Definition

Heir: A person who inherits under a will or a person who succeeds to property by the state laws of descent if the decedent dies intestate.

Executrix: A female person appointed by a testator to carry out the directions and requests in his or her last will and testament, and to dispose of his or her property according to the provisions of t . . . View Full Definition

Escheat: The reversion of property to the state or county, as provided by state law, in cases where a decedent dies intestate and there are no heirs capable of inheriting or when the property is aban . . . View Full Definition

Estate Taxes: Federal estate taxes and state inheritance taxes (as well as the debts of decedents) are general, statutory, involuntary liens that encumber a deceased persons real and personal property. Th . . . View Full Definition

Executor: A male person appointed by a testator to carry out the directions and requests in his or her last will and testament, and to dispose of his or her property according to the provisions of the . . . View Full Definition

Feudal System: A system of ownership usually associated with precolonial England, in which the king or other sovereign is the source of all rights. The right to possess real property was granted by the sov . . . View Full Definition