Arizona Laws 14-9101. Definitions
In this title, unless the context otherwise requires:
Terms Used In Arizona Laws 14-9101
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Beneficiary: means an individual for whom property has been transferred to, or held under a declaration of trust by, a custodial trustee for the individual's use and benefit under this chapter. See Arizona Laws 14-9101
- Conservator: means a person who is appointed by a court to manage the estate of a protected person. See Arizona Laws 14-1201
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Court: means the superior court. See Arizona Laws 14-1201
- Decedent: A deceased person.
- Descendant: means all of the decedent's descendants of all generations, with the relationship of parent and child at each generation. See Arizona Laws 14-1201
- Disability: means cause for a protective order as described in section 14-5401. See Arizona Laws 14-1201
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Guardian: means a person who has qualified as a guardian of a minor or incapacitated person pursuant to testamentary or court appointment but excludes a person who is merely a guardian ad litem. See Arizona Laws 14-1201
- Guardian ad litem: includes a person who is appointed pursuant to section 14-1408. See Arizona Laws 14-1201
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Parent: includes any person entitled to take, or who would be entitled to take if the child died without a will, as a parent under this title by intestate succession from the child whose relationship is in question and excludes any person who is only a stepparent, foster parent or grandparent. See Arizona Laws 14-1201
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means an individual or an organization. See Arizona Laws 14-1201
- Personal representative: includes an executor, an administrator, a successor personal representative, a special administrator and persons who perform substantially the same function under the law governing their status. See Arizona Laws 14-1201
- Property: includes both real and personal property. See Arizona Laws 1-215
- Special administrator: means a personal representative as described by sections 14-3614 through 14-3618. See Arizona Laws 14-1201
- State: means a state, territory or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico. See Arizona Laws 14-9101
- Trust: includes an express trust, private or charitable, with any additions, wherever and however created. See Arizona Laws 14-1201
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional or successor trustee, whether or not appointed or confirmed by the court. See Arizona Laws 14-1201
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
1. "Beneficiary" means an individual for whom property has been transferred to, or held under a declaration of trust by, a custodial trustee for the individual’s use and benefit under this chapter.
2. "Conservator" means a person who is appointed or qualified by a court to manage the estate of an individual or who is legally authorized to perform substantially the same functions.
3. "Court" means the superior court of this State.
4. "Custodial trust property" means an interest in property transferred to or held under a declaration of trust by a custodial trustee under this chapter and the income from and proceeds of that interest.
5. "Custodial trustee" means a person who is designated as trustee of a custodial trust under this chapter or a substitute or successor to the person designated.
6. "Guardian" means a person who is appointed or qualified by a court as a guardian of an individual, including a limited guardian, but not a person who is only a guardian ad litem.
7. "Incapacitated" means lacking the ability to manage property and business affairs effectively by reason of mental illness, mental deficiency, physical illness or disability, chronic use of drugs, chronic intoxication, confinement, detention by a foreign power, disappearance, minority or other disabling cause.
8. "Legal representative" means a personal representative or conservator.
9. "Member of the beneficiary‘s family" means a beneficiary‘s spouse, descendant, stepchild, parent, stepparent, grandparent, brother, sister, uncle or aunt, whether of the whole or half blood or by adoption.
10. "Person" means an individual, corporation, business trust, estate, trust, partnership, joint venture, association or any other legal or commercial entity.
11. "Personal representative" means an executor, administrator or special administrator of a decedent‘s estate, a person legally authorized to perform substantially the same functions or a successor to any of them.
12. "State" means a state, territory or possession of the United States, the District of Columbia or the Commonwealth of Puerto Rico.
13. "Transferor" means a person who creates a custodial trust by transfer or declaration.
14. "Trust company" means a financial institution, corporation or other legal entity that is authorized to exercise general trust powers.