Debt – an amount of money owed to another person.
Digital Assets – things that you own that you cannot physically touch, such as online accounts, patents, and computer records.
Digital Trustee / Representative – a trusted person selected by you in a will to manage your Digital Assess after your death.
Estate – basically everything you own (money, property, residences etc.)
Guardian – a responsible adult that would care for your children if you were unable.
Heart of Your Estate – the section of your plan that divides your estate among your chosen heirs.
Heirs – people that can benefit from your estate plan.
Intestate – a state in which a person dies without a Will or Trust, and an estate is divided per state law.
Notary Public – a public official whose signature strengthens a Will or Trust, and helps avoid Probate.
Off the Top Gifts – a small amount gifted prior to dividing the heart of your estate. Often used to show fondness or faith.
Parented – a personal definition outlining the depth of relationship necessary for a child to be considered an heir (ex: born to, adopted, foster, live with, etc.)
Personal Representative – a trusted person selected by you in a will to manage and divide your estate after your death. Also called an executor.
Physical Assets – things that you own which you can physically touch, such as books, boats, and clothing.
Power of Attorney – a document giving power to another person to make decisions on your behalf when you’re unable to.
Probate – a public court process by which a Will is viewed, an estate is itemized and valued, and assets are divided under the supervision of a judge.
Representative or Trustee Fees – a reasonable amount of money paid to your Trustee or Personal Representative for their time and effort handling your Estate.
Spouse – your husband, wife, or life partner.
Trustee – a trusted person selected by you in a trust to manage and divide your estate after your death.
Unable to Act – a state in which you are unable to manage your finances on your own. Complete disability.
Will – a public document describing how you want your things handled after your death.
Trust – a private document describing how you want your things handled now and after your death.
Witnesses – people that Watch you sign your will or trust, and cannot benefit from your estate plan.