The Elder Law Office of Steven C. Perlis and Associates, P.C.

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Elder Law Legal Terminology

Estate Planning

• Agent or Attorney-In-Fact – A person or organization named in a power of attorney to act on behalf of the person who signs the document.
• Beneficiary - A person or organization designated to receive benefits through a legal device, such as a will or trust, or a contract, such as a life insurance policy or individual retirement account.
• Living Will – A document that provides specific instructions to your physician regarding your wishes on whether you want death-delaying procedures used if you have a terminal condition and are unable to communicate your wishes
• Power of Attorney – A Power of Attorney is a form signed by an individual that designates another person or organization to make decisions for that individual. The person signing the form is the “principal” and the person or organization chosen to make the decisions is called the “attorney in fact” or the “agent”.
• Principal – This term commonly refers to the individual who appoints an attorney-in-fact or agent to act on his or her behalf in a power of attorney document.
• Testate – A person who dies with a will is said to have died "testate."
• Testator – A person who makes a will.
• Trust – A trust is a relationship typically set forth in an agreement in which one person (trustor,settlor,grantor) transfers property to another person or organization (trustee) to hold the property for the benefit of another (beneficiary).
• Trustee - The person or organization who manages assets and distributes income and/or principal owned by a trust under the terms of a trust document.
• Trustor - Someone who creates a trust. This person is also referred to as the “grantor” or “settlor”.
• Will – A document in which a person specifies what is to be done with his or her property when that person dies.

Guardianship

• Guardian - An individual or organization appointed by a court as the legal representative of a disabled adult.
• Guardian Ad Litem – A person appointed by the court to visit with and advise an alleged disabled person of his or her rights in a guardianship proceeding. Although not required, the Guardian Ad Litem is typically an attorney.
• Guardianship – A guardianship is a court proceeding in which an individual is determined to be legally disabled and incapable of handling his or her personal and/or financial matters.
• Petition – A petition is a formal written request presented to a court.
• Respondent – A term used to identify the party who must respond to a petition.
• Ward – A person who has a guardian appointed by a court.

Medicaid Related Terms

• Medicaid - A program established by the federal government and administered by the states to help pay medical and other costs for financially needy people (regardless of age).
• Medicare – The health insurance program for people age 65 or older, people under age 65 with certain disabilities, and people of all ages with end-stage renal disease
• Pooled Trust – This is a type of special needs trust which is funded with assets typically belonging to an individual with a disability. The Trustee is a non-profit organization. The funds are pooled for investment purposes, but each beneficiary has his or her own sub-account.
• Special Needs Trust - A type of trust used for a person who would like to qualify for or continue to qualify for public benefits, but has too many resources to meet the asset requirements. “Special Needs” are those which cannot or will not be paid for by any government, private, or other source.

Probate

• Administrator – An administrator is a person or organization appointed by a court to manage and administer the estate of someone who dies without a will. This person is also referred to as the personal representative.
• Decedent – A person who has died, also referred to as the “deceased.”
• Descendant – Those persons who are in the blood line of an ancestor. For example, children, grandchildren, great-grandchildren, and so on.
• Estate – A term commonly used to describe all the property you own (whether real property or personal property) and liabilities. 
• Executor/Executrix - The person or organization named in a will and appointed by a court to administer the property of someone who has died. The executor/executrix collects the property, pays debts and taxes, and then distributes the property as specified in the will. This person is also referred to as the personal representative.
• Heirs – An heir is a legal term used to describe the person or persons who are entitled to inherit property under intestate succession laws.
• Intestate – A person who dies without a valid will.
• Intestate Succession Laws - The method by which property is distributed when a person dies without a valid will. Each state provides laws on how to distribute this property, typically to the closest surviving relatives.
• Legatee - A legatee is a person to whom money, property, or anything else of value is given by a last will and testament.
• Probate – A probate is a legal proceeding which establishes the validity of a will (if there is one), and appoints an individual or organization as the deceased person’s representative. The personal representative then identifies and inventories the deceased person’s property, pays the debts and taxes, and distributes the deceased person’s property according to the will, or if there is no will, then pursuant to state law. The administration can be formal (supervised) or informal (independent).