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Codicil
An amendment to a will. It is a separate document.
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.
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).
Estate
All of the property owned by a person, including real estate and personal property.
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.
Will
A legal document that directs where a person's property should go after that person dies.
Power of attorney
A legal agreement that authorizes someone to handle or share in handling the financial matters of another person. A "durable" power of attorney can continue to give power to another in handling financial matters after incapacitation has occurred.
Revocation
In terms of wills, the process or act of canceling or destroying an existing will.
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