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Click on the first letter of the word from the list above to go to the
appropriate section of the glossary.
-L-
Letters of Administration: Document issued by the probate court giving the administrator authority to administer the estate.
Letters Testamentary: A document issued by the probate court giving the executor authority to administer the estate under the provisions of the decedent's will.
Liabilities: The amounts owed to another by any person, family, or business (i.e. a mortgage).
Living trust: A trust established during the lifetime of the grantor.
