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Today's Terms
Power of attorney
Definition:
A legal agreement that authorizes someone to handle or share in handling the financial matters of another person. A "durable" power of attorney can continue to give power to another in handling financial matters after incapacitation has occurred.
Joint tenancy
Definition:
A property held in joint tenancy is owned by two or more people who have an undivided interest in the property, and the interest continues even after the other owners die.
Codicil
Definition:
An amendment to a will. It is a separate document.
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