Here’s a quick guide to some common probate terms you should know.
Today I’m joined by attorney John Ankner from the law firm Saunders & Saunders to talk about a very important topic: probate. I handle a lot of probate transactions, and it’s my opinion that the average person doesn’t know as much about probate as they should. In this interview, we’ll discuss all the important probate terms and how they apply to different situations.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch it in its entirety or use these timestamps to browse specific points at your leisure:
1:57—“Probate”
2:29— “Personal representative,” “Executor,” and “Administrator”
4:58—“Beneficiary”
5:23—“Will” (or “Last will and testament”)
5:56—“Probate of will”
6:40—“Heirs” and “Heirs-at-law”
8:04—“Trustee”
9:25—“Decedent” and “Domicile”
10:32—“Estate” and “Life estate”
12:43—“Testate” and “Intestate”
13:26—“Summary administration,” “Formal administration,” and “Ancillary administration”
17:01—“Letters of administration”
19:00—Wrapping things up
As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m happy to help.
