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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.
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
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.
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.
Beneficiary
A person designated to receive the income or principal of a trust estate.
Decedent
A person who is deceased.
Escheat to the state
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.
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.
Will
A legal document that directs where a person's property should go after that person dies.
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