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Property
The money a person has and the things a person owns.
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
Will
A legal document that directs where a person's property should go after that person dies.
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
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.
Payable on death account (POD)
An account, such as a bank account, that is handed over to a specified person upon another person's death.
Decedent
A person who is deceased.
Estate
All of the property owned by a person, including real estate and personal property.
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.
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