Common Estate Settlement Terms

Affidavit: A declaration of facts sworn to under oath in front of a judge, notary public or other administrator of oaths.

Certified Death Certificate: An official document issued by a public registry verifying that a person has died, with information such as the date and time of death, the cause of death and the signature of the attending or examining physician. A certified copy will contain the local registrar's signature and a raised seal.

Letter Testamentary: A legal order issued by the court confirming the appointment of an executor named in a will and granting the executor permission to manage the estate.

Trust: A legal arrangement in which one person (the "settlor") requests that another person or a business entity (the "trustee") hold legal title to certain property or money and manage it for the benefit of a third party (the "beneficiary").

Will: A legal document that describes how the drafter wants their property, money or other assets to be dealt with when they die.

Administrator: A person chosen by the court to manage the estate of a person who died without leaving a will.

Beneficiary: A person who is designated to receive property or money pursuant to a legal instrument, such as a trust, a will or a life insurance policy.

Executor: A person chosen by the creator of a will to manage their estate when they die. Unlike an administrator, an executor is specifically named in the will.

Trustee: A person or business entity who holds legal title to property and manages it for the benefit of a third-party beneficiary.

Certified: A document that has been sworn to in writing as true, or that otherwise meets certain criteria proving its authenticity.

Estate: All property owned by a person at death, including both assets (for example, cash, property and household goods) and liabilities (debts).

Probate: The procedure by which a court decides that a document qualifies as a valid will or the process by which a person's estate is managed and distributed.