For purposes of sections 45a-557 to 45a-560b, inclusive:

Terms Used In Connecticut General Statutes 45a-557a

  • 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.
  • Decedent: A deceased person.
  • Executor: A male person named in a will to carry out the decedent
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • Probate: Proving a will

(1) “Adult” means an individual who has attained the age of twenty-one years.

(2) “Broker” means a person lawfully engaged in the business of effecting transactions in securities or commodities for the person’s own account or for the account of others.

(3) “Court” means Probate Court.

(4) “Custodial property” means (A) any interest in property transferred to a custodian under sections 45a-557 to 45a-560b, inclusive, and (B) the income from and proceeds of that interest in property.

(5) “Custodian” means a person so designated under section 45a-558f or a successor or substitute custodian designated under section 45a-559c.

(6) “Financial institution” means a bank, trust company, a savings institution or credit union, chartered and supervised under state or federal law.

(7) “Guardian” means a person appointed or qualified by a court to act as guardian of a minor’s estate or a person legally authorized to perform substantially the same functions.

(8) “Legal representative” means any court appointed fiduciary, including, but not limited to, a guardian, conservator, executor or administrator. A legal representative does not include a guardian ad litem.

(9) “Member of the minor’s family” means the minor’s parent, stepparent, spouse, grandparent, brother, sister, uncle or aunt, whether of whole or half blood or by adoption.

(10) “Minor” means an individual who has not attained the age of twenty-one years.

(11) “Person” means an individual, corporation, organization or other legal entity.

(12) “Personal representative” means an executor, administrator, successor personal representative or temporary administrator of a decedent‘s estate or person legally authorized to perform substantially the same functions.

(13) “State” includes any state of the United States, the District of Columbia, the Commonwealth of Puerto Rico and any territory or possession subject to the legislative authority of the United States.

(14) “Transfer” means a transaction that creates custodial property under section 45a-558f.

(15) “Transferor” means a person who makes a transfer under sections 45a-557 to 45a-560b, inclusive.

(16) “Trust company” means a financial institution, corporation or other legal entity authorized to exercise general trust powers.