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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.
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.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
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.
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
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.
Will
A legal document that directs where a person's property should go after that person dies.
Codicil
An amendment to a will. It is a separate document.
Jointly held bank account
A bank account that is held by two or more people each of whom has a right of survivorship.
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