One who lacks the ability, physical, to receive and evaluate information or communicate decisions so much they cannot manage their essential requirements for food, clothing, shelter, safety or other care such that serious physical injury, illness, or disease is likely to occur.
For the purposes of elder law, see Incapacity.
When a will admitted to probate authorizes or directs independent administration, either by specific reference to this section or by language providing that the estate be administered without adjudication, order or direction of the court, the letters testamentary shall provide that the personal representative therein named may administer the estate independently if the probate has no reason to judge otherwise. When a will admitted to probate prohibits independent administration, expressly or by language manifesting intent that the estate be administered under court supervision, the directions of the will shall be observed. When all of the heirs interested in an estate consent to independent administration, and the Will does not prohibit it, Letters also may provide that the personal representative may administer the estate independently.
It is a Latin phrase that means “while living,” that is, from one living person to another. This is commonly used to describe when property rights transferred; while the parties were living, or after someone died.
A term used when a person dies without a valid Last Will and Testament, so their estate passes to heirs based on the laws of the state in which they lived when they died or the state where the real estate is located.
A trust in which the person starting the trust (the Grantor) has not kept the power to revoke or change the trust agreement. In the more common “living trust” used for general estate planning, the Grantor keeps the power to change beneficiaries and other terms of the trust agreement.