Administrator / Administratrix (male / female) - (or personal representative)
Person appointed by the Surrogate Court to manage and distribute the estate of a person who died without a will; one appointed by the court to act for a decedent who left no will.

Beneficiary
Person named to receive property or bequest; one designated to receive something.

Caveat
An action to prevent a will from being probated, which is filed with the Surrogate's office prior to the judgment of probate being issued.

Codicil
A separate writing made after a will to change the provisions; a written amendment to change a will.

Decedent
A deceased person.

Devise
Gift of real estate by Will.

Estate
Everything owned by a person, all real and personal property; all of the property of a decedent, minor or incapacitated person, that can be passed on to another.

Executor/Executrix (male/female) - (or personal representative)
Person or institution named in a Will to carry out the provisions and directions of the Will; the person named by a testator to carry out provisions of a will.

Fiduciary
Legal status accorded to a person acting in a particular relationship to others, based upon good faith, loyalty and confidence. Includes executor (trix), administrator (trix), personal representative and trustee.

Heirs
Persons who inherit, including the surviving spouse, are entitled to receive the property of the decedent under the laws of intestacy.

Holographic Will
One written wholly in the handwriting of the testator.

Issue
All lineal descendants, natural or adopted, of all generations, with the relationship of parent and child at each generation being determined by the definition of child and parent.

Intestate
When a person dies without a Will.

Next-of-Kin
Relative(s) sharing in an estate by statute of distribution.

Personal Property
Intangible property such as stocks, bonds, or bank accounts; and tangible property such as furniture, automobile, jewelry.

Personal Representative
Person who acts for another in representing legal interests, such as an executor (trix) or administrator (trix).

Personalty
Movable things, personal property identified by the testator in a will, codicil, or letter/list for distribution by the Executor.

Probate
Official proof of the validity of a Will.

Refunding Bonds and Releases
By statute (N.J.S.A. 3B:23-24) an Executor or Administrator is required on paying a beneficiary his/her share of the estate, to have a Refunding Bond and Release signed by the beneficiary and to file it in the Surrogate’s Court. The statute requires that the Refunding Bond and Release be in the amount or value of the beneficiary’s share of the estate. The Refunding Bond and Release must be signed by the beneficiary before a Notary Public or attorney.
The Refunding Bond and Release has a dual purpose:

Refunding – To refund to the Executor or Administrator out of his/her share of the estate his ratable part of any unpaid debts, owed by the testator or intestate, if there are no other assets to pay them.

Release - To discharge the Executor or Administrator of an estate of his/her duties upon distribution to the beneficiary of his/her share of the estate.

Note that any required surety bond cannot be cancelled by the insurance agent unless the refunding bond and releases have been recorded with the Surrogate and copies presented to the insurance agent.

The Refunding Bond and Release and instructions can be found in our forms section. Your attorney can also prepare the Refunding Bond and Release for you.

Self Proving Will
A will that has an acknowledgment by the testator and affidavits of the witnesses, each made before an officer authorized by the Court to take acknowledgments.

Surety Bonds
A surety bond may be required for an Executor in certain situations. The bond protects the creditors, beneficiaries, and heirs of an estate.
A bond must continue in effect until the estate is settled and a refunding bonds and releases are recorded with the Surrogate. Bond Premiums are an expense of the estate.

Surrogate's Certificates
Surrogate's certificates or Letters Testamentary are also called "short form certificates." The certificates are required to transfer ownership of each asset in the name of the decedent.
Additional certificates can be obtained by writing to the Surrogate's Court, providing the name of the decedent, and enclosing the fee for the number of certificates requested. Certificates are usually mailed within one day of receiving a request.

Testator (trix)
Person who makes a Will; one (male/female) who executes a Will.

Trust
Property owned and managed by one person for the benefit of another.

Will
Legal declaration of the division of an estate; written instrument by which a person makes disposition of his property to take effect upon his death.

Witness
Person who observes the signing of a Will and also attests to the signatures.