Category Archives: Probate

A person who is a blood relative in the direct line to an ancestor, such as child, grandchild, great-grandchild and on forever. Also known as a lineal descendant. Compare – collateral descendant, a relative descended from a brother or sister of an ancestor.

The person who has died, sometimes referred to as the “deceased.”

The act of mixing, sharing or pooling of funds belonging to one party with those of another party. Commingling of trust funds, personal and business funds, or principal and agent’s funds is generally prohibited under Missouri law.

Debts and Creditor’s claims filed against estates.

Any person or entity who is to receive assets, profits or other benefits from an estate, trust, insurance policy, or any instrument, contract or account in which there is distribution. Trust beneficiaries are also known as cestui que use or cestui que trust.

The original cost of an asset to be used to determine the amount of capital gain (or loss) upon its sale. The basis be increased or decreased over time due to capital improvements or depreciation.

The legal transferring and distribution of the assets of an estate.