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Codicil
An amendment to a will. It is a separate document.
Property
The money a person has and the things a person owns.
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.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
Estate
All of the property owned by a person, including real estate and personal property.
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.
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.
Revocation
In terms of wills, the process or act of canceling or destroying an existing will.
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