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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.
Beneficiary
A person designated to receive the income or principal of a trust estate.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
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.
Revocation
In terms of wills, the process or act of canceling or destroying an existing will.
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
Escheat to the state
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
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.
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