Glossary

Assets

Assets are anything a person owns. Examples of assets include bank accounts, life insurance, investments, a home or other real estate, furniture, jewelry, art, clothing, and collectibles.

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Executor/Administrator

A person appointed in the Will to carry out the directions and requests in the Will and fully participate in the probate process meeting all the formalities and requirements of the probate court leading to the distribution of assets to the beneficiaries and satisfying all debt obligations. An Administrator has the same obligations as an

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Fiduciary

A fiduciary is a term that implies exceptional confidence, trust, and a high degree of good faith. Being said, a fiduciary is someone with a legal obligation (duty) to act on behalf of another’s benefit. The most common examples are trustees and agents under a power of attorney.

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