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Today's Terms
Will
Definition:
A written document that provides instructions for disposing of a person's property upon the person's death. A will generally also names an executor or personal representative to handle the estate.
Incapacity / Incompetent
Definition:
Legally unable to manage one's own affairs due to mental disability. This may be temporary or permanent.
Personal Property
Definition:
Movable property, including furniture, antiques, automobiles, business equipment, cash and stocks. Compare with Real Property.
More Estate Planning Terms >
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