Essentials of Business Law Chapter 27

A deceased person.

A person's declaration of how he or she wishes property to be distributed upon his or her death.

The person who makes a will.

The court responsible for accepting a will that meets all statutory requirements and for supervising the operation of a will.

The person responsible for settling the affairs of the decedent.

A personal representative named in the will.

A personal representative appointed by a court.

The state in which a person dies without a will.

An individual who receives gifts of personal or real property by will.

A gift of money by will.

A gift of personal property by will.

When a specific bequest of personal property is made, but the personal property is disposed of before the death of the testator.

A gift of real property by will.

A will that is completely handwritten.

An oral will.

The requirement that a testator be of sound mind and legal age.

A document, separate from the will, in which a person can make legal changes to his or her will.

A device that documents an individual's expressed wishes regarding his or her health care in the event that the individual is incapacitated without hope of recovery.

A document in which a person directs his or her physician and/or health proxy to forgo certain extraordinary medical procedures in especially dire circumstances.

A device or mechanism that permits personal or real property to be held by one party, the trustee, for the benefit of another, the beneficiary.

A person who is entrusted with the management and control of another's property rights associated with that property.

A person who sets up a trust while still alive.