ISSUE:
Common legal document definitions
RESOLUTION:
These are definitions for commonly used legal terms:
Will: A will is a document in which you (the person who makes the will) state who'll receive your property (the beneficiaries) and who'll carry out your wishes (the executor).
Living will: A living will is a document in which you state your wishes regarding life-sustaining treatment in the event that you have a terminal illness, you're unconscious, or you're expected to die within a relatively short period of time.
Living trust: A living trust (or revocable trust) is a trust created by a person (the grantor) for use during that person's lifetime. It provides for payments of income for the grantor and the distribution of the remaining assets of the trust upon the grantor's death.
Healthcare power of attorney: In a healthcare power of attorney, you designate a person (the agent) who'll have the authority to make healthcare decisions on your behalf if you are unconscious, incompetent, or otherwise unable to make such decisions.
Article ID: 44102
Date Modified: 00:00:00
Software: Home and Business Attorney 2007, Real Estate Attorney 2007, Business Attorney 2007, WILLPower 2007, Real Estate Attorney 2008, Business Attorney 2008, Home and Business Attorney 2008, WILLPower 2008
