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Today's Terms
Probate
Definition:
The process of settling your estate after you die, including paying creditors and heirs, and validating a will (if there is one).
Jointly held bank account
Definition:
A bank account that is held by two or more people each of whom has a right of survivorship.
Personal representative
Definition:
The person responsible for the administration of an estate. This includes paying creditors and heirs.
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