The person appointed by the court to manage one's estate when he or she dies without leaving a will.
Administrators have the same duties as executors.
Appreciated Property Property, such as real estate or stock, that has increased in value. Annuity A sum of money payable yearly or at other regular intervals. Beneficiary An individual designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan. Bequest To give or leave something by will, usually personal property or assets. An agreement in which you transfer cash or other assets to the United States Naval Academy Foundation in exchange for its promise to pay you an annuity for life or for a term of years.