FAQ: What is a Holographic Will?

Definition of HOLOGRAPHIC WILL: (noun) / a will written entirely in the handwriting of the testator and not executed and attested in accordance with the formalities prescribed by New York Estates Powers & Trusts Law § 3-2.1 In order for a holographic will to be admitted to probate, it must be proven that the will was […]

FAQ: What are ‘Issue’?

Definition of ISSUE: (noun) / descendants in any degree from a common ancestor In the context of trusts and estates, the term ‘issue’ is defined as “the descendants in any degree from a common ancestor”.  In other words, issue refers to a person’s lineal descendants, such as children, grandchildren, great-grandchildren, etc.  This differs from “heirs”, […]

FAQ: What is a Grantor?

Definition of GRANTOR: (noun) / a party who transfers ownership of property to another As applied to trust law, the grantor is the party who creates a trust and transfers or grants money to the trust.  In real estate law, the grantor is the transferor or seller of real property.   ANTONELLI & ANTONELLI – […]

FAQ: What is an Executor?

Definition of EXECUTOR: (noun) / any person to whom letters testamentary have been issued (NY SCPA §103(20)); a person legally appointed to represent a testate estate An executor is appointed by the Surrogate’s Court to act on behalf of an estate where the decedent died with a will, known as dying testate.  Letters Testamentary refers […]

FAQ: What is a pecuniary interest?

Definition of PECUNIARY: (adjective) / of or relating to money In estate law, a pecuniary interest refers to one’s interest in an estate that relates to money.  Likewise, a pecuniary loss refers to a loss that can be measured in terms of money.   ANTONELLI & ANTONELLI – New York City Probate Attorneys and Estate […]

FAQ: What is an Administrator?

Definition of ADMINISTRATOR: (noun) / any person to whom letters of administration have been issued (NY SCPA §103(2)); a person legally appointed to represent an intestate estate An administrator is appointed by the Surrogate’s Court to act on behalf of an estate where the decedent had no will, known as dying intestate.  Letters of Administration […]