A short glossary of the words people keep using

Administrator — court-appointed manager of an estate with no (usable) will.

Affidavit of death — recorded sworn statement, with death certificate attached, clearing a deceased owner from title.

Basis / step-up — your cost for capital-gains math; resets to date-of-death value when you inherit.

Beneficiary — person entitled to receive from a trust, will, or account.

Decedent — the person who died. Cold word, standard everywhere.

Escrow — the neutral third party that closes a sale; also the account holding funds.

Executor — person named in a will, empowered by the court, to administer a probate estate.

HECM — the standard FHA reverse mortgage.

IAEA — Independent Administration of Estates Act; 'full authority' probate sales without court confirmation.

Intestate — dying without a will.

Letters (testamentary / of administration) — the court paper proving an executor's or administrator's authority.

PCOR — Preliminary Change of Ownership Report; filed with deeds so the assessor can evaluate reassessment.

Probate — court-supervised administration of an estate.

Stepped-up basis — see basis.

Successor trustee — the person a living trust names to take over at death or incapacity.

Supplemental assessment — the catch-up property-tax bill after a reassessment event.

Trust administration — the out-of-court process of carrying out a living trust after death.

General education, not advice — verify anything you’ll rely on with a CPA or estate attorney.