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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.
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.
Decedent
A person who is deceased.
Beneficiary
A person designated to receive the income or principal of a trust estate.
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.
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.
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.
Codicil
An amendment to a will. It is a separate document.
Will
A legal document that directs where a person's property should go after that person dies.
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