Executor
is the person appointed by the decedent in the decedent's will to
run and manage the estate. "Executrix" is a term
sometimes used for female executors.
Settlor
is a person who makes a trust.
Testator
is a person who makes a will; one who dies leaving a will.
Beneficiary
is a person who receives anything pursuant to the terms of a will.
Estate
is the property and assets belonging to the decedent.
Fiduciary
is a person who acts for another as an agent, executor, trustee.
or other similar position. This person must strictly follow
the law, any governing documents, and the interests of the persons
for whom he or she is acting. A fiduciary owes very high
legal duties and is held strictly liable for failing to meet those
duties.
