Introduction to Testamentary terms

Testate : When a person dies leaving a Will.

Intestate Succession : When a person dies without leaving a Will.

Testator : Testator is a person who makes a Will.

Legatee/ Beneficiary  : Legatee/ Beneficiary is a person who inherits the property under a Will.

Executor : An executor is a person who is appointed by a testator to execute his Will. An executor is duly bound to distribute the assets of the testator as per provision of Will.

Probate

‘Probate’ means the copy of a Will certified under the seal of a court of competent jurisdiction with a grant of administration of the estate of the testator. A probate can be granted only to the executor appointed under the Will. Further, a probate is essential if the Will is for immovable assets in multiple states. The executor is the most important person in the Will. An executor has a duty to collect and realize the estate of the deceased, pay his debts and distribute the legacies as mentioned in the Will by the testator. The duty of the executor is to probate the Will in a manner known to law. The court shall grant probate only to an executor who has been named in the Will.

Letter of Administration

Letters of Administration are usually issued to the persons entitled under the rules of intestacy (or their guardians if they are minors) where the deceased without a Will.

When someone dies without a will, it’s called dying intestate. Even though a person dies intestate, they still will likely have assets and debts that need to get resolved. The person’s remaining assets are distributed to their heirs, who are determined by state law. Assets go as per class heirs.

Even though there is no will, someone must still do the work of winding up the estate’s affairs and distributing the assets. The court appoints an administrator, who fulfills basically the same role as an executor. The administrator normally must be the deceased’s spouse or next of kin, but it could be anyone with an interest in the estate.

The laws about this are different in each state. A letter of administration is issued to the administrator, giving them the legal authority to act on behalf of the estate.

Succession Certificate:

A Succession Certificate establishes who the legal heirs are and the authenticity of the successor. It is a Certificate given to the successor of a deceased person who dies without leaving a will. The list of debts, securities and assets of the deceased is mentioned. It indicates the relation of the petitioner with the deceased. Along with providing details of other surviving legal heirs and that the deceased died intestate. And the information about the time, date and place of death of the deceased. It means that the certificate holder has authority over the deceased person’s assets of the deceased. The assets may include Insurance, Mutual Funds, Pension (in Employees Provident Fund or otherwise), Retirement Benefits or any other service benefits. In other words, it helps the grantee or the receiver, to recover the debts due to the deceased person.