It’s heartbreaking to lose a loved one, and dealing with probate courts adds to the stress of the situation. As with anything, probate can be scary if you are unsure what to expect. Understanding the process and other terms used sometimes helps make going through this easier. One step is simply understanding the terms often used in the probate process.
15 Commonly Used Probate Terms And Definitions
Below is a list of some commonly used probate terms and their definitions. Understanding some legal terms is a good start to understanding the probate process. Of course, the courts will use quite a few more terms, but these will get you started.
- Administrator – When a person dies without a will (dying intestate), the probate court will assign an administrator to handle all parts of closing the estate. See the term Executor to understand the difference between the two terms.
- Affidavit – A written statement made under oath.
- Beneficiary – an individual or organization to which the deceased person makes a gift of property. These gifts can be written in a will, trust, life insurance policy, retirement policy, or any other investment that names the person to whom the money can be passed. It does not have to be a blood relative. See the term Heir to understand the difference between the two terms.
- Certified Copy – An official copy of a document notated as an accurate, complete and authentic representation of the original document.
- Community Property – Illinois is not a community property state. Instead, we are a common-law state that allows spouses to own property individually. Everything is not automatically split 50/50.
- Contest – To dispute the terms of the will. Contesting the will is often done for 4 reasons.
- Disbursement – The act of paying out out money or distributing the assets.
- Escrow – Money or documents held by a third party until the conditions of the agreement are met.
- Executor – When someone writes a will, they often name an executor to follow its directions. This person will inventory all assets, sell what is needed, pay all final bills and taxes and distribute the assets to the heirs or beneficiaries.
- Healthcare Directive – Sometimes referred to as a Living Will, a healthcare directive tells doctors and medical staff a person’s medical wishes, such as a Do Not Resuscitate.
- Heir – A living relative who would naturally inherit assets from a deceased. Often a child or grandchild. See the term Beneficiary to understand the difference between the two terms.
- Motion – A formal request that is made to a judge for an order or judgment.
- Power of Attorney – A legal document allowing people to act on your behalf in certain situations. Please know that a power of attorney ends when the principal dies.
- Trust – A legal instrument that ensures your assets are managed according to your wishes during your lifetime and after your death. The assets are no longer in your name, but you can access and use them. After you are gone, the assets are distributed according to the terms of the trust. See the term Will to understand the difference between the two terms.
- Will – The terms of a will go into effect after you pass away. You name the executor who will distribute your assets. See the term Trust to understand the difference between the two terms.
Illinois Estate and Probate Attorney
Do you have questions about any of these commonly used probate terms or the probate process in general? Our experienced estate and probate attorneys can advise you on the best options to protect your assets and loved ones. Contact the Estate & Probate Legal Group at 630-864-5835 to talk to an attorney today.
AREAS WE SERVE: Cook, DuPage, Kane, Lake, Kendall and Will counties