Difference between revisions of "Glossary for Preparing Your Will"

Glossary for Preparing Your Will (view source)

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 ;Beneficiary: A person designated to receive money or property in a will, benefit plan, or insurance policy.
-;Codicil: A document made after the will that changes some things in your will.
+;Codicil: A document made after the will that changes some things in the will.
-;Estate: All of the property and belongings you own at your death, with some exceptions. The estate does not include property you own with someone else jointly (such as a joint bank account) or property where you have designated a beneficiary (such as an insurance policy).
+;Estate: All of the property and belongings a person owns at their death, with some exceptions. The estate does not include property owned with someone else jointly (such as a joint bank account) or property where a beneficiary has been designated (such as an insurance policy).
 ;Executor: The person you appoint to carry out the instructions in your will and settle your affairs after you die.