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Property
The money a person has and the things a person owns.
Living Trust
A living trust is an estate planning device that allows a person to transfer assets to one or more persons before and after they die.
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.
Will
A legal document that directs where a person's property should go after that person dies.
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.
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
Decedent
A person who is deceased.
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.
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