Wills: Wills can be very simple or extremely complex. They are meant to list a person’s assets, property and personal belongings and determine where they should be distributed. Wills do not have to be expensive and will make sure your wishes are honored with less friction among family & friends.

Codicil: An amendment to the will such as when a grandchild is born and needs added to the will.

Executor: The person appointed to pay the bills and to make sure the will is carried out the way you want it. 

Durable Power of Attorney: This appoints an individual to have permission to access bank and financial information and to pay bills.

Living Trusts: In addition to a will, some people set up living trusts that include certain assets but not all and are mainly used for tax reasons.

Probate: Legal process of settling an estate. With no will the court will decide where the proceeds go and it may not be where you intended.

Living Will: End of life decisions such as using feeding tubes, ventilators and receiving CPR are covered in living wills.

Medical Directives or Health Care Proxy: Much more comprehensive than a living will, some people call it the “healthcare power of attorney”. 

DNR: When your heart stops, there will be no CPR or intubations. 

Action Step: I am not a lawyer and please remember that these definitions are to get you started if you need legal help. If you are worried that you might change your mind, each of these documents can be rewritten and changed except for certain irrevocable living trusts.

Golden Nugget: Elder law is a specialty of law that concentrates on the legal issues of seniors. The National Academy of Elder Law Attorneys (website listed) accredits attorneys who take extra courses on senior issues like living wills, estate planning and power of attorney’s.