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Beneficiary
A person designated to receive the income or principal of a trust estate.
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.
Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.
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.
Estate
All of the property owned by a person, including real estate and personal property.
Revocation
In terms of wills, the process or act of canceling or destroying an existing will.
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.
Codicil
An amendment to a will. It is a separate document.
Property
The money a person has and the things a person owns.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
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