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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.
Revocation
In terms of wills, the process or act of canceling or destroying an existing will.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
Escheat to the state
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
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.
Property
The money a person has and the things a person owns.
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.
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.
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