Probate Law Terms and Definitions

Escheat to the state
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.

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

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

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.

Revocation
In terms of wills, the process or act of canceling or destroying an existing will.

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.

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

Decedent
A person who is deceased.

Will
A legal document that directs where a person's property should go after that person dies.

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.