Probate Law Terms and Definitions

Health care directive
A legal document that lets others know one's wishes regarding medical care and treatment, funeral arrangements, organ donation, and other health care concerns.

Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.

Jointly held bank account
A bank account that is held by two or more people each of whom has a right of survivorship.

Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.

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.

Estate
All of the property owned by a person, including real estate and personal property.

Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.

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.

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.

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.