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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.
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.
Beneficiary
A person designated to receive the income or principal of a trust estate.
Property
The money a person has and the things a person owns.
Codicil
An amendment to a will. It is a separate document.
Escheat to the state
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.
Will
A legal document that directs where a person's property should go after that person dies.
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
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.
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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