|
Estate
All of the property owned by a person, including real estate and personal property.
Decedent
A person who is deceased.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
Attorney-in-fact
This person receives the powers allocated in a power of attorney, such as a right to handle another person's financial matters.
Beneficiary
A person designated to receive the income or principal of a trust estate.
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.
Jointly held bank account
A bank account that is held by two or more people each of whom has a right of survivorship.
Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.
Property
The money a person has and the things a person owns.
Guardian
A person or entity who is appointed by the court to exercise many powers for the care of an incapacitated person, the person's estate, or both.
|
Did You Know?