| A | B |
|---|
| Asset | A useful or valuable thing, person, or quality |
| Beneficiary | A person or institution who derives benefits from the creation of a trust, proceeds of an insurance policy, bond, or retirement fund when the owner dies |
| Charity | A non‐profit organization |
| Decedent | The person who died |
| Estate | The real and personal property that a person owns |
| Estate Planning | Provides a clear plan for what should happen upon the death of an individual |
| Executor | A person or institution named in a will to carry out the settlement of an estate. This person or institution pays the debts, manages the property and later distributes it according to the provisions of the will. |
| Fiduciary | Someone entrusted with managing an estate; includes executor, guardian, conservator and trustee |
| Gift | A lifetime transfer of property without receiving payment |
| Guardianship | Established by a legal document called a will |
| Guardian | A person legally charged with the duty of taking care of another who, because of age intellect, or health, is incapable of managing his or her own affairs. |
