An administrator is a person appointed by courts or by private arrangement to manage the property and affairs of another person, particularly in cases involving deceased individuals without a will or debt administration.
Estate planning involves the orderly handling, disposition, and administration of an estate when the owner dies, including drawing up wills, setting up trusts, and minimizing taxes.
A legal mechanism through which the estate of a deceased debtor is administratively handled in cases of insolvency, often drawing from principles of bankruptcy law.
An inter vivos transfer refers to the transfer of property or an interest in property during a person's lifetime. This term is derived from Latin, meaning 'between the living.' It is commonly used in estate planning and tax contexts to differentiate such transfers from those occurring after death.
A Legal Representative is an individual tasked with overseeing the legal affairs of another person or taxpayer, such as an executor or administrator of an estate.
