|
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
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.
Escheat to the state
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.
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).
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.
Joint tenancy
A property held in joint tenancy is owned by two or more people who have an undivided interest in the property, and the interest continues even after the other owners die.
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.
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.
|
Did You Know?