Definitions of Some Words and Terms use in Probate
and in Wills and Trusts:
administrator-a person who is appointed by the court to collect and sell and distribute with court approval the assets of an estate. In contrast, an executor does the same thing as an administrator but is chosen by the person who wrote the will (testator) to do this. If a person dies without a will, the person who collects and sells and distributes the assets of an estate will be the administrator.
administratrix-old term for a female administrator.
affordable probate lawyer or attorney-We think that we are more than affordable probate lawyers; we think we are the high quality low cost probate lawyers in Nevada. See our published fees, Probate. ancillary probate-Normally probate is done in the state in which the decedent (person who died) resided. However, if the person owned real estate in another state, then there will have to be an ancillary probate in any other state where the person owned real estate. See Ancillary Probate bequest-A specific gift in a will such as "I give my 2003 Ford to John Doe" or "I give $5,000 to Mary Roe."
blocked minor's account-A person under 18 is not considered an adult and therefore if money should to that person through probate, life insurance proceeds, or a personal injury case, the money cannot be given directly to the person under 18. The "default" way to handle this problem is to get a court order saying that the money will be put in a bank account subject to a court order that neither principal nor interest can be taken out until the minor reaches the age of 18 at which point the minor can to the bank and collect all of the money.
co-administrator-There can be two or more administrators. Under Nevada law an administrator who resides out of state must have a Nevada resident co-administrator.
co-executor-There can be two or more executors.
decedent-dead person, usually the person whose assets go through probate
degree of kinship-see civil law and kin. The degree of kinship is determined by counting the number of steps from one kin to the common ancestor and then back from the common ancestor to the other kin. If a person dies without a will and is not survived by the usual relatives such as parents, children, grandchildren, siblings or spouse, that person's property usually goes to the next of kin with the lowest degree of kinship.
discount probate lawyer or attorney-In Nevada N.R.S. 150.060(4) authorizes an attorney to contract with a client, subject to ultimate court approval, for a probate fee of 4% of the first $100,000 of the estate, 3% of the next $100,000, 2% of the next $800,000, 1% of the next $9,000,000, and 0.5% of the next $15,000,000. Any lesser fee is arguably a discount probate attorney fee or discount probate lawyer fee. Our fees are substantially less. See Probate escheat-if a person dies without a will AND no relatives can be found, the money from the estate goes to the State of Nevada; the person's relatives then have six years in which to get the money back from the state.
executor-person named in the will handle the estate in probate.
executrix-old term for female executor
first degree of lineal consanquinity or affinity-This phrase means "parent-child" and "husband-wife." This phrase comes from N.R.S. 375.090(5); under this section if there is a transfer of Nevada real estate there will be a transfer tax due whether the transfer is by sale, gift or inheritance, except if the transfer is between parent and child or husband and wife. There are 13 other exceptions in N.R.S. 375.090 to having to pay a real estate transfer tax, including transferring in or out of a trust if there is no real change in ownership.
grantor-the person who puts money or property into a trust; also, the person on a deed who sells or gives away real estate.
holographic will-a will that is written entirely by hand by the testator (person making the will); the requirements for the validity of a holographic will are less strict than the requirements for a will that is not written entirely by hand.
intestate-when a person dies without a will; in that case who gets what is controlled by the laws of intestate succession
intestate succession-the laws that say who gets what if a person dies without a will See If You Die w/o a Will kin, kindred, next of kin-Two people are kin or kindred if they have a common ancestor. In most cases if a person dies without a will only kin can inherit.
Letters Testamentary or Letters of Administration-A court order appointing an executor or administrator which gives the person power to determine and collect assets of the estate of a dead person.
low cost probate lawyer or attorney-Within large limits the probate court lets clients and lawyers agree on a probate fee.We believe we are the high quality low cost probate attorneys in Nevada and we list our fees for uncontested probates on our website to make it easy for you to verify this claim. Probate personal representative-the modern term that includes both executors
and administrators
probate-the court procedure in which a dead person's property is distributed
residuary clause-A will usually contains specific gifts called bequests. The part of the will that says who gets all the rest is the residuary clause.
set aside or set aside without administration-a type of expedited probate procedure used in Nevada for estates with a value of less than $100,000
special administrator-an administrator who is appointed to conserve or determine the estate assets; usually this person is appointed because for lack of information or other reasons it isn't yet appropriate to
appoint a personal representative who will act from start to finish of the estate.
testator-the person who writes a will; in modern usage this can be a person of either sex, but traditionally a testator was male and a testatrix was female
testatrix-old term for a female who writes a will
trust-a device which avoids the probate process and provides for the property of a dead person to pass to his or her family and friends without a court process
trustee-The person who administers or controls property in a trust. Usually the person who sets up the trust is the original trustee. After the original trustee
dies or becomes disabled there is a successor trustee.
will-document describing to whom a person's property should go when the person dies
Contact Information:
Reed & Mansfield
6655 W. Sahara Ave., Suite B-200
Las Vegas, NV 89146
phone: 702-343-0494
regular business hours: 9am-5pm (Pacific Coast time) M-F
most days: We will also take your call between
7am-9pm including weekends and holidays
(c) Jonathan Reed 2010