Terms

Page	Terminology	Layman's Definition
1	real property	land and anything built on it, like a house
1	property	anything you own, like land, money, or peronal items.
1	per stirpes	a way to pass down property so the inheritance follows the family tree. Like a waterfall. Ex) if a child dies before the parent, that child’s share goes to their children.
1	inherit	to receive money, land, or things from someone who has died.
1	executor	the person you name in your will to carry out your wishes and handle your affairs after you die.
1	guardian of child	an adult chosen to take care of a child's wellbeing if the parents die or cannot care for them.
1	conservator of child	an adult chosen to manage a child’s money or property until the child becomes an adult.
2	advanced healthcare directive	a set of instructions for your doctors and loved ones about what treatments you want or don't want if you can't speak for yourself.
2	healthcare agent	the person you choose to make healthcare decisions for you if you are unable to.
3	financial power of attorney	a paper that lets someone else handle your money or property if you can't. You say when it starts, including when you're incapacitated
3	incapacitated	not able to make decisions for yourself or your affairs because of illness or injury.
3	Tangible personal property	physical things you can touch and own, like clothes, jewelry, or a car.
3	Stocks and bonds	investments you can buy to earn money over time. Stocks give you a small portion of a company, while bonds let you loan a company or government money
3	Commodities and options	types of investments, like oil or farm products, and contracts to buy or sell them later.
3	Banks and other financial institutions	places like banks or credit unions where you keep or borrow money.
3	Operation of entity or business	running or making decisions for a company or business.
3	Insurance and annuities	plans that give money for things like accidents, health care, or retirement.
3	Estates, trusts, and other beneficial interests	money or property you get from someone’s will, trust, or other legal setup.
3	Claims and litigation	legal cases or requests for help from an entity/organization where you may benefit (ex- personal injury).
3	Personal and family maintenance	paying for living needs like food, clothes, housing, and care for family.
3	Benefits from governmental programs or civil or military service	money or help you get from programs like Social Security, veterans’ benefits, or disability.
3	Retirement plans	accounts like 401(k)s or IRAs
3	Taxes	money paid to the government from income, property, or purchases.
3	decision making authority	the power to make choices for someone else.
3	Create, fund, amend, revoke, or terminate an inter vivos trust. _____	start, add to, change, cancel, or end a trust that is made while someone is alive.
3	Make a gift, subject to the limitations of O.C.G.A. §10-6B-56 and any Special Instructions in this power of attorney. _____	give someone a gift of money or property, if the law and this document allow it.
3	Create or change rights of survivorship. _____	set up or change who gets property when one of the owners dies.
3	Create or change a beneficiary designation. _____	choose or change who gets money or property from things like life insurance, retirement accounts, or bank accounts when you die.
3	Authorize another person to exercise the authority granted under this power of attorney. _____	Let someone else use the powers given by this legal document. Lets your Agent give control of your money to someone else (careful)
3	Waive the principal's right to be a beneficiary of a joint and survivor annuity, including a survivor benefit under a retirement plan. _____	give up the right to receive money after a spouse dies from a shared retirement plan.
3	Exercise authority over the content of electronic communications sent or received by the principal. _____	manage or see someone’s emails, texts, or other digital messages. can limit access to others.
3	Exercise fiduciary powers that the principal has authority to delegate and that are expressly and clearly identified (including the persons for which the principal acts as a fiduciary) in the Special Instructions. _____	use powers to handle money or property for others, if allowed and clearly written in the document.
3	Renounce an interest in property, including a power of appointment. _____	say no to money, land, or rights that you were given in a will or legal paper.
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