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Heir
Those persons, including a spouse who are entitled to the property of a decedent when the decedent has left no valid will.
Decedent
A person who is deceased.
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.
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.
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.
Probate
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
Property
The money a person has and the things a person owns.
Assets
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
Escheat to the state
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.
Personal representative
The person responsible for the administration of an estate. This includes paying creditors and heirs.
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