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Will
A legal document that directs where a person's property should go after that person dies.
Jointly held bank account
A bank account that is held by two or more people each of whom has a right of survivorship.
Escheat to the state
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.
Codicil
An amendment to a will. It is a separate document.
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
Revocation
In terms of wills, the process or act of canceling or destroying an existing will.
Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.
Beneficiary
A person designated to receive the income or principal of a trust estate.
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.
Property
The money a person has and the things a person owns.
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