Understanding Estate Planning:
A Glossary for Peace of Mind

Administrator

If someone dies without a will, the court appoints an administrator to manage and distribute the estate according to Georgia’s intestacy laws.

Advance Directive (or Healthcare Directive)

A document that outlines your medical care preferences and names someone to make healthcare decisions for you if you’re unable to communicate.

Asset Protection

Legal strategies to help shield your wealth from lawsuits, creditors, or long-term care expenses.

Beneficiary

A person or entity designated to receive assets from a will, trust, insurance policy, or retirement account after your death.

Codicil

A legal document that makes changes to an existing will without replacing the entire document.

Conservator

A court-appointed person who manages the financial affairs or personal care of someone who is unable to do so themselves, often due to incapacity or disability.

Durable Power of Attorney

A legal form that allows someone you trust to manage your finances if you’re no longer able to do so.

Estate

All of your assets and debts at the time of your death. This includes real estate, personal property, investments, and liabilities.

Executor (or Personal Representative)

The person you, or the court, name in your will to handle your final affairs—like paying debts and distributing your property.

Fiduciary

Someone legally required to act in your best interest—this includes roles like executor, trustee, or power of attorney.

Grantor (or Settlor or Trustor)

The person who creates a trust and transfers assets into it.

Guardianship

A legal arrangement in which a person is appointed to care for a minor child or an incapacitated adult, managing their well-being and/or finances.

HIPAA Authorization

A document that allows your healthcare agent or loved ones to access your medical records and communicate with healthcare providers, in compliance with federal privacy laws.

Heir

A person entitled by law to inherit property from a deceased relative when no valid will is in place.

Intestate

Dying without a valid will. In this case, state laws determine how your assets are distributed and who becomes guardian of any minor children.

Living Trust (or Revocable Trust)

A flexible legal tool that lets you manage and pass on your assets without going through probate court.

Living Will

Part of your healthcare directive that explains what life-saving treatments you want (or don’t want) if you’re seriously ill and can’t speak for yourself.

Power of Attorney

A legal form that gives someone else permission to manage your finances or make legal decisions on your behalf.

Probate

The legal process of validating a will, paying debts, and distributing the remaining assets. This process is overseen by the probate court

Probate Court

The court that oversees the administration of wills, estates, guardianships, and conservatorships..

Pour-Over Will

A safety net will that ensures any assets not already in your trust are transferred into it after your death.

Special Needs Trust (SNT)

A trust designed to provide for a person with disabilities without disqualifying them from government benefits like Medicaid or SSI.

Trust

A legal arrangement where one person (trustee) holds and manages assets for the benefit of another (beneficiary). Trusts can be revocable or irrevocable and are often used to avoid probate or protect assets.

Trustee

The person or institution responsible for managing the assets held in a trust and carrying out the terms of the trust agreement.

Will

A legal document that specifies how your assets should be distributed and who should care for your minor children after your death.