Probate Law Terms and Definitions

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

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

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.

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.

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.

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.

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

Codicil
An amendment to a will. It is a separate document.

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

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.