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    Probate Forms

    Probate Terms & Definitions

    Beneficiary: Someone who inherits something from an estate with a will. A beneficiary is named in the will.

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    Codicil: A supplement to a will such as a document or rider that modifies or supersedes an existing provision of the will or creates a new provision.

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    Conservator: Someone appointed to manage the affairs of someone who is incompetent or unable to make decisions for themselves.

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    Heir: Someone who inherits property when someone dies. An heir is someone who is not named as a beneficiary in the will but is a family member of the deceased by marriage or blood. This includes a spouse, child, parent, or, in some cases, more extended family.

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    Intestate: Someone who dies without a legal will in places dies intestate. In this case, distribution of the estate’s assets is the responsibility of the probate court and completed according to state law.

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    Joint Tenancy With Rights of Survivorship: A type of joint property ownership that grants co-owners the right to a share of the home upon the death of a joint tenant. The interest of the deceased co-owner is automatically transferred to surviving co-owners. With regular joint tenancy ownership without right of survivorship, tenants in common have no right of survivorship unless the deceased co-owner specifically states that his or her interest in the property should be divided among surviving co-owners in a will.

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    Personal Representative (Executor or Executrix): A personal representative, also known as an executor or executrix is someone designated by a will to administer an estate and handle distribution of the estate’s assets to beneficiaries.

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    Probate: A court process in which a will is proved valid and a decedent’s estate is settled.

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    Probate Court: The state court under the judicial system that handles matters related to conservatorships, wills, and estates.

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    Tenancy in Common: A type of shared tenancy in which each tenant or owner has a separate interest in the property that can be transferred.

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    Testate: Someone who has died and left a valid will

    PLEASE NOTE: The forms & definitions listed above are for information purposes only.  The accuracy of the forms & definitions are not guaranteed. For accurate forms & descriptions of the terms listed above, consult with a probate attorney.  

    MONTY L. HAMMONDS
    Real Estate Agent
    Green Team Real Estate Services

    8607 Smyrna Pkwy., Ste. #108

    Louisville, KY 40228
    Phone# (502) 593-9657
    Email- Monty@GreenTeamRES.com

     

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