Break through the shroud of obfuscation surrounding estate planning by learning these commonly used terms.Estate planning terms to know:1.Ademption31.Irrevocable trust2.Administrator32.Issue3.Advance medical directive33.Joint tenants with right of survivorship4.Beneficiary34.Letters testamentary5.Bequest35.Living trust6.Chattel36.Living will7.Codicil37.Marital exemption8.Community property38.Medical power of attorney9.Conservator39.Minor child10.Credit shelter trust40.Pay on death account11.Decedent41.Personal property12.Discretionary trust42.Pour-over will13.EGTRRA43.Power of attorney14.Election against the will44.Pretermitted15.Estate45.Probate16.Estate plan46.QDOT17.Estate tax47.QPRT18.Executor48.QTIP19.Fiduciary49.Real property20.Form 131050.Residuary21.Gift tax51.Revocable trust22.Grantor52.Second-to-die insurance23.Guardian53.Self-proving will24.Health care proxy54.State estate taxes25.Heir55.Taxable estate26.Inheritance56.Tenants in common27.Inheritance tax57.Testamentary trust28.Intestate58.Trust29.Inter vivos gift59.Trustee30.Inter vivos trust (living)60.Will
Break through the shroud of obfuscation surrounding estate planning by learning these commonly used terms.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Timely market news and advice for consumers ready to buy, sell or invest in real estate. Delivered weekly.
Mortgage servicers are spending more time on borrowers who are behind on payments than those who are current, according to a new J.D. Power study.
... Read more