Business, Legal & Accounting Glossary
The management and settlement of an estate left by a person who did lot leave a will or an executor of estate.
The court-supervised distribution of the probate estate of a deceased person. If there is a will that names an executor, that person manages the distribution. If not, the court appoints someone, who is generally known as the administrator. In some states, the person is called the “personal representative” in either instance.
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This glossary post was last updated: 26th November, 2021 | 9 Views.