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Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.
Conservator
A person or entity who is appointed by the court to exercise certain powers for the care of an incapacitated person, the person's estate, or both.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
Jointly held bank account
A bank account that is held by two or more people each of whom has a right of survivorship.
Health care directive
A legal document that lets others know one's wishes regarding medical care and treatment, funeral arrangements, organ donation, and other health care concerns.
Living Trust
A living trust is an estate planning device that allows a person to transfer assets to one or more persons before and after they die.
Beneficiary
A person designated to receive the income or principal of a trust estate.
Codicil
An amendment to a will. It is a separate document.
Power of attorney
A legal agreement that authorizes someone to handle or share in handling the financial matters of another person. A "durable" power of attorney can continue to give power to another in handling financial matters after incapacitation has occurred.
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
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