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Property
The money a person has and the things a person owns.
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.
Revocation
In terms of wills, the process or act of canceling or destroying an existing will.
Codicil
An amendment to a will. It is a separate document.
Beneficiary
A person designated to receive the income or principal of a trust estate.
Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.
Estate
All of the property owned by a person, including real estate and personal property.
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.
Jointly held bank account
A bank account that is held by two or more people each of whom has a right of survivorship.
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.
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