Probate

Business / Real Estate / Probate: The formal judicial proceeding to prove or confirm the validity of a will, to collect the assets of the decedents estate, to pay the debts and taxes and to determine the persons to whom the remainder of the estate is to pass.

Probate Estate

Business / Taxes / Probate Estate: Your probate estate includes all of the assets that will pass to your heirs through your will. It doesn’t include anything that you have sold, given away, put into trusts, or passed directly to reci MORE

Payable-On-Death

Business / Taxes / Payable-On-Death: A bank account titled payable-on-death (POD) lets you name one or more beneficiaries to whom the assets are paid when you die. POD accounts can be useful estate planning tools in the states where they MORE

Per Capita

Business / Taxes / Per Capita: Per capita is the legal term for one of the ways that assets being transferred by your will can be distributed to the beneficiaries of your estate. Under a per capita distribution, each person named a MORE

Intestate

Business / Taxes / Intestate: A person who dies without a will is said to have died intestate. In this case, the probate court in the person’s home state — sometimes known as surrogate’s court or orphan’s court — determi MORE

Transferable-On-Death

Business / Taxes / Transferable-On-Death: A securities or brokerage account titled transferable-on-death (TOD) lets you name one or more beneficiaries, to whom the account assets are transferred when you die. TOD accounts are available only i MORE

Executor

Business / Real Estate / 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 will. Sta MORE

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