If We Have Contacted You. Protecting Your Assets. Glossary of Legal Terms.
When someone passes away, they may leave behind personal property, bank accounts or real estate. Sometimes estate assets can be administered without the need of formal legal intervention. But when the law does require court involvement, the legal proceedings are called Probate.
An administrator is a person lawfully appointed, with his assentby an officer having jurisdictionto manage and settle the estate of a deceased person who has left no executoror one who is for. It will be proper to consider, first, his rights; secondly, his duties. By the grant of the letters, of administrationthe administrator is vested with full and ample powerunless restrained to some special administration, to take possession of all the personal estate of the deceased and to sell it; to collect the debts due to him; and to represent him in all matters which relate to his chattels real or personal. He is authorized to pay the debts of the, intestate in the order dire ted by law ; and, in the United Stateshe is generally entitled to a just compensationwhich is allowed him as commmisions on the amount whichpasses through his hands.
Department Two. QUINN et al. An administrator or executor, upon settlement of an estate, is entitled to reimbursement for advances made during the process of administration; however, an administrator or executor who voluntarily expends funds belonging to an estate to which he might have laid claim as life tenant, is not entitled to recoup.
A person appointed by the court to manage and take charge of the assets and liabilities of a decedent who has died without making a valid will. When such a person is a male, he is called an administrator, while a woman is called an administratrix. An administrator c.
The definition of Administration de bonis non cum testamento annexo in the law of the United Statesas defined by the lexicographer Arthur Leff in his legal dictionary is:. I imagine that such an administrator. This is an advance summary of a forthcoming entry in the Encyclopedia of Law.
An Estate is everything owned by a person who is now deceased. It is the total of a person's property including moneyentitlements and obligations. This is when a person dies with a Will.
With the will annexed. A term applied to administration granted where a testator makes an incomplete will, without naming any executors, or where he names Incapable persons, or where the executors named refuse to act. With the testament or will annexed. It often happens that the deceased, although he makes a will, appoints no executor, or else the appointment fails; in either of which events he is said to die quasi intestatus.