A woman who makes a will or a testament.
Trust
A right of property, real or personal, held by one party for the benfit of another. Any arrangement whereby property is transferred with the intention that it be administered by the trustee for another's benefit.
Trustee
The person holding property in trust. The person appointed, or required by law, to execute a trust; one in whom an estate, interest, or power is vested, under an express or implied agreement to administer or exercise it for the benefit or to the...
Trustor
One who creates a trust. Also called a Settlor, Creator, Grantor and Tesator.
Wife
A woman united to a man in marriage.
Will
The legal expression or declaration of a person's mind or wishes as to the disposition of hi property, to be performed or take effect after his death. Most valid wills are either statutory witnessed wills or handwritten holographic...
What is a Revocable Living Trust?
A Revocable Living Trust is a living legal entity which is capable of holding title to assets. Trust Law has been part of our evolving common law and judicial system since the early 1300's. The purpose for the creation of a trust has historically...
How is a Trust terminated?
A Revocable Trust can be terminated by any of the creators of the trust during their lifetimes. Usually the trust remains in existence until after the deaths of the testators, or creators, and then automatically terminates when the assets are...
Is there more than one kind of Revocable Trust?
The most common type of Revocable Trust is the Intervivos Trust (the Living Trust), which is created while the testator lives and which holds the testator's assets during the testator's lifetime. The Testamentary Trust is a Trust which is written...
What is Probate?
Probate is the court-supervised process where the probate court analyzes and proves the validity of the decedent's will, appraises the value of the estate, and administers the decedent's estate for the benefit of the beneficiaries.