§ 1-2.12 Person The term “person” includes a natural person, an association, board, any corporation, whether municipal, stock or non-stock, court, governmental agency, authority or subdivision, partnership or other firm and the state.
§ 1-2.13 Personal representative A personal representative is a person who has received letters to administer the estate of a decedent. The term does not include an assignee for the benefit of creditors, or a committee, conservator, curator, custodian, guardian, trustee or donee of a power during minority.
§ 1-2.14 Per stirpes A per stirpes disposition or distribution of property is made to persons who take as issue of a deceased ancestor in the following manner: The property so passing is divided into as many equal shares as there are (i) surviving issue in the generation nearest to the deceased ancestor which contains […]
§ 1-2.15 Property Property is anything that may be the subject of ownership, and is real or personal property.
§ 1-2.16 Representation By representation means a disposition or distribution of property made in the following manner to persons who take as issue of a deceased ancestor: The property so passing is divided into as many equal shares as there are (i) surviving issue in the generation nearest to the deceased ancestor which contains one […]
§ 1-2.17 Specific disposition. A specific disposition is a disposition of a specified or identified item of the testator’s property.
§ 1-2.18 Testamentary beneficiary A testamentary beneficiary is a person in whose favor a disposition of property is made by will.
§ 1-2.19 Will (a) A will is an oral declaration or written instrument, made as prescribed by 3-2.1 or 3-2.2 to take effect upon death, whereby a person disposes of property or directs how it shall not be disposed of, disposes of his body or any part thereof, exercises a power, appoints a fiduciary or […]
§ 1-2.20 Lifetime trust The term “lifetime trust” shall mean an express trust and all amendments thereto created other than by will and shall not include; a trust for the benefit of creditors, a resulting or constructive trust, a business trust where certificates of beneficial interest are issued to the beneficiary, an investment trust, voting […]
§ 1-2.3 Demonstrative disposition A demonstrative disposition is a testamentary disposition of property to be taken out of specified or identified property.
