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Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.
Property
The money a person has and the things a person owns.
Revocation
In terms of wills, the process or act of canceling or destroying an existing will.
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.
Estate
All of the property owned by a person, including real estate and personal property.
Decedent
A person who is deceased.
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.
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
Jointly held bank account
A bank account that is held by two or more people each of whom has a right of survivorship.
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
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