Probate:

The legal process of managing a deceased person’s estate.

Executor:

The individual appointed in the will to manage and settle the estate.

Administrator:

A person appointed by the court to handle the estate if no will exists.

Estate:

Everything a person owns at the time of their death.

Decedent:

The person who has passed away.

Asset:

Property, money, or items of value owned by the deceased.

Debt:

Money owed by the deceased at the time of death.

Inventory:

A detailed list of the estate’s assets.

Accounting:

A report detailing the estate’s expenses, income, and distributions.

Qualification:

The process where the executor or administrator is formally appointed by the court.