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ChFC 330 - Estate Planning
Chapter 9
5
Finance
Not Applicable
07/16/2011

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Cards

Term
Probate
Definition
The process of proving a will's validity in court and executing its provisions under the guidance of the court. The process of probating the will involves recognition by the appropriate court of the executor named in the will (or appointment of an administrator if none has been named), and the determination of validity of the will if it is contested.
Term
Deed
Definition
A written instrument that conveys an interest in realty from the grantor to the grantee.
Term
Ancillary Probate
Definition
A proceeding in a state other than the decedent's state of domicile and where a decedent owned property.
Term
Posting Bond
Definition
Making some kind of security available to assure performance.
Term
Letters Testamentary
Definition
Written documents granted by the judge of a orphans, probate, or surrogates court having jurisdiction to an executor named in a will, authorizing that person or entity to act as such.
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