Advanced directive: a legal document stating a person's wishes regarding medical care in the event that the person either has a terminal condition or is in a persistent vegetative state and is unable to communicate their wishes regarding treatment.
Agent: a person designated to act on behalf of another, the principal.
Conservator: court appointed individual to manage another person's (the protected person's) financial affairs.
Estate: the tangible and intangible possessions of an individual.
Fiduciary: a person in a position of trust acting for or on behalf of another.
Guardian: court appointed individual to manage the protected person's non-financial affairs.
Living trust: A trust created during the settlor's lifetime which settlor may revoke. Also called a revocable trust.
Living will: Another name for an advanced directive.
Medical power of attorney: A document designating an agent to act for the principal with respect to medical care and decision making.
Power of attorney: A document designating an agent to act for the principal with respect to financial matters.
Trust: A legal creation permitting one (the trustee) to hold property of the person creating the trust (the settlor) and act for another (the beneficiary) pursuant to the terms set forth in the trust.
Will: A document providing for the distribution of one's estate.
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