LAP 102 Set 2 M. Perez
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Created by:
perzmarisol on November 8, 2011
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30 terms
Terms | Definitions |
|---|---|
 Account | Information provided to court as to income and disbursements either on behalf of conservatee or in course of administration of decedent's estate |
| Conservatee | Adult placed under conservatorship |
| Conservator | person appointed to act on behalf of conservatee |
| Conservatorship (estate) | Established when the probate court determines that an adult is legally incompetent to manage his or her own financial resources or resist fraud or undue influence |
| Conservatorship (person) | Established when the probate court determines that an adult is legally incompetent to provide for his personal needs as to physical health, food, clothing or shelter |
| Dependent relative revocation | A situation where a testator or trustor revokes a will or trust based on revocation of a will or trust by another |
| Estate tax | Tax levied by federal government on gross value of an estate |
| Guardian ad litem | Person appointed by a court to provide special assistance in court to a party to the proceeding, whether or not already represented by counsel, where the court determines that the party requires some special assistance |
| Guardian | Person appointed by court to assume legal responsibility for ward |
| Guardianship | established as to a minor when the minor's parents are deceased or otherwise determined to be incapable of providing regular care and supervision for the child |
| Inventory and Appraisement | Filed in court by executor or administrator documenting all known assets and liabilities in the decedent's estates at the time of death |
| Issue | Generally refers to a person's lineal descendants |
| Least restrictive alternative | Requirement in conservatorship proceeding that there be no reasonable alternative other than conservatorship and that powers given conservator are only as extensive as required to meet the issues that gave rise to the conservatorship |
| Limited conservatorship | In California a type of conservatorship for an adult who is mentally disabled but not necessarily legally incapacitated |
| Order for Distribution | Order in probate court directing distribution or all or part of the assets of the estate to designated beneficiaries |
| Per capita by generation | Distribution determined by the number of persons in each generation entitled to take. If there are three heirs in the first generation and two are deceased leaving issue, the estate goes 1/3 to the survivor of the first generation and the remainder is then divided equally among the members of the second generation |
| Per capita distribution | Distribution in equal shares among all persons entitled to share in estate |
| Per stirpes distribution | Distribution in equal shares at the first generation entitled to share in estate, and if any member of that generation is deceased leaving issue then the share of the member of the first generation is divided equally among that person's heirs |
| Pourover will | Will executed in conjunction with revocable living trust directing that all assets belonging to decedent at his death with are not already in the revocable living trust be placed into the trust |
| Publication | Process of publishing legally required notices in decedent's estate including notice of death and notice of petition for probate |
| Revival of will | After will has been revoked, action by testator intended to reestablish validity of that will |
| Revocable living trust | An arrangement whereby the Trustor creates a trust and places all assets with title into yhe Trust. The Trustor is also the Trustee and administers the Trust during his lifetime. At the Trustor's death his estate is administered through the trust and not through probate |
| Revocation of will | Action by testator intended to render a will inoperative in whole or in part |
| Take against the will | Right of surviving spouse to claim a larger share of estate than provided in decedent's will if the spouse's statutory share had the decedent died intestate is greater than the share provided in the will |
| Trustee | Person who is responsible for administering a trust according to the terms of the trust instrument |
| Trustor | Person who creates a trust |
| Undue Influence | Where one person in a position of special trust or power over another person takes advantage of that trust or power to obtain some special advantage |
| Uniform Transfer to Minors Act | Federal and state laws requiring appointment of a custodian to receive funds payable to a minor, to be held by the custodian until the minor attains majority |
| Ward | Person under guardianship |
| Will Contest | Objection to admissibility of all or part of a will based on allegations of fraud, mistake, undue influence or as to the technical validity of will itself |
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