Examlex
Which of the following is a description of how a firm will reach some financial position in the future?
Personal Representative
A personal representative is an individual appointed to administer the estate of a deceased person, managing and distributing the estate's assets according to the will or, if there is no will, in accordance with state laws.
Administrator
The personal representative appointed by a probate court to settle the estate of a deceased person who died intestate (without leaving a valid will).
Decedent
A legal term used to refer to a person who has died, especially concerning their estate or possessions left behind.
Executor
A person named in a will who is charged with managing the estate of the deceased, ensuring that their wishes are carried out according to the will.
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