Planning words in plain English
Look up the words used in your accounts, health care permissions and planning papers. Each meaning links to a practical guide.
- 50 terms
- Official sources
A
- 1Access key
For Apple Legacy Contact, an access key is part of what the person you chose needs for a future data request. It is not your Apple Account password. Apple requires the key together with death documentation. Record where the key is kept rather than entering it into this website. The person you chose should understand its purpose and where their copy is.
- 2Advance designation
Social Security advance designation lets you name people the agency could consider as a future representative payee. It does not appoint them now. You can record your preference while you are able to do so. Keep the person's contact details with your benefit information. Explain that the agency still decides whether a payee is needed and whom to appoint.
- 3Advance directive
An advance directive records medical-care instructions for a time when you cannot communicate your wishes. The documents and names vary by state. The term comes up when you organize your wishes and tell your family where the papers are. A written instruction that no one can find leaves a practical gap. Ask your clinician and lawyer which documents apply.
- 4Agent
An agent is a person authorized to act for someone else. In a power of attorney, the document and applicable law set the authority. You may encounter the word in financial or health care paperwork. Write down the role as it appears in your document. An agent, trusted contact, beneficiary and emergency contact can be different people with different jobs.
- 6Autopay
Autopay is an arrangement for recurring payments. With automatic debit, you authorize a company to withdraw money from an account. A useful family bill list records the company, usual payment date and where the paperwork is. It does not need account numbers. CFPB distinguishes company withdrawals from a bank's bill-pay service, so identify which arrangement each bill uses.
B
- 1Backup contact
Here, a backup contact is another person your family can call if the first person is unavailable. It is a practical contact role. Ask the person before naming them. Explain whom they should contact and where your important information is. Naming a backup on a planning card does not create a power of attorney or replace the people named in legal documents.
- 2Bank account
A bank account is an arrangement for money held with a bank. The account type, owners and agreement matter when you plan for your family. Record the institution and account type without writing an account number. Joint ownership, beneficiary designation and permission to act are different arrangements. Ask your bank to explain its existing records rather than treating every account the same.
- 3Beneficiary
A beneficiary receives money, property or benefits under a particular arrangement. The meaning depends on the account, trust, insurance policy or benefit program. Being a beneficiary differs from being allowed to manage something while its owner is alive. Review each institution's record rather than assuming your will supplies every designation. Record where the paperwork is kept, without copying balances or account numbers.
C
- 1Claim
Here, a claim means a request to an official unclaimed-property program for property you believe belongs to you. The program reviews the request. Finding a matching name is the search step. Proving ownership is the claim step. Follow the relevant state's instructions rather than assuming that one document list works everywhere. Use official services for any identity information.
- 2Claimant
Here, a claimant is the person requesting property or a benefit from the relevant program. The program decides what evidence or authority is required. The claimant may be the owner or someone with a different legal role. Do not assume a family relationship alone settles that question. An official program can explain its requirements. A lawyer can explain disputed ownership or estate authority.
- 3Conservatorship
Conservatorship is a court arrangement in which an appointed person acts or makes decisions for someone who needs help. Its scope depends on state law. California Courts describes one state's approach. Other states use different names and rules. Organizing your existing papers can help you explain your arrangements to a lawyer. A readiness check does not decide capacity or whether a court order is needed.
D
- 1Death certificate
A death certificate is an official record of a person's death. Organizations may require a certified copy rather than an ordinary photocopy. This term appears in Apple's access requirements and other institution instructions. USAGov directs people to the vital-records office for the place where a death occurred.
- 2Digital assets
Digital assets are electronic records or content in which you have an interest. Examples can include online photos and files. Legal definitions vary. Washington's digital-asset law defines the term as an electronic record in which an individual has a right or interest. Ownership of content and permission to access an account are different questions. Use the provider's official preparation route.
- 3Durable power of attorney
A durable power of attorney can remain effective if you become unable to make decisions. Durable describes that continuing authority. Durable does not tell your family where the document is or which tasks it permits. Record its location and the contact details for the person named. Ask a lawyer about the wording, effective date and state requirements.
E
- 1Emergency access
Emergency access is a provider's route for a chosen person to request access under set conditions. Password managers use different names and rules. Check your own provider's current instructions. Bitwarden, for example, uses a configured wait before an emergency request can take effect unless the owner approves it sooner. Other providers differ. Never put passwords or recovery details in a public planner.
- 2Emergency contact
An emergency contact is someone you ask others to call if something happens. Listing a contact does not by itself grant legal decision-making authority. Use a clear name, relationship and current phone number on a private card. Discuss the role with the person first. If you also named a medical decision maker, keep that role identifiable rather than assuming the two roles are the same.
- 3Estate
An estate can mean the property a person owned at death. The exact legal treatment of that property depends on state law and its ownership. California Courts uses this term for the deceased person's legally owned property. Making an inventory while you are alive helps you explain what exists. It does not decide how property transfers or replace advice from a lawyer.
- 4Executor
An executor is the person named in a will to carry out its instructions after death. Court appointment and the role's requirements depend on state law. California Courts describes an executor as named in a will and appointed by the court. The name alone does not explain permission to act while you are alive. Ask a lawyer about the people and roles in your own documents.
G
- 1Guardianship
Guardianship is a court-created role involving another person's care or property. State law determines whom it covers and what authority it gives. Names differ across states and between personal-care and property matters. CFPB discusses court-appointed guardians of property. Do not assume that an emergency contact or a person named in a private letter has court authority. Ask a lawyer about your situation.
H
- 1Health care proxy
A health care proxy is a person you name to make health care decisions when you cannot communicate them yourself. Some states use another name. You may see representative, surrogate or agent in the same context. Your medical-care decision maker and the person allowed to discuss Medicare claims may have different permissions. Keep the document location beside your emergency contacts.
- 2Health information
Health information is information about your health, care or payment for care. A simple contact list differs from a provider's clinical record. Permission to share information and authority to make medical decisions are separate questions. Ask the provider which permission it needs. Medicare has its own authorization for discussing personal health information through 1-800-MEDICARE.
I
- 1Inactive Account Manager
Google Inactive Account Manager sets instructions for selected account data after a period of inactivity. It is a Google Account setting. You choose the people and data in your own Google Account. Tell the people you choose what you intended, then review the setting as your accounts change. A plan for Google does not automatically cover another email provider.
- 2Insurance policy
An insurance policy is the written contract recording an insurance agreement. The policy's terms explain the particular coverage and conditions. Your family list can name the insurer, type of policy and location of the paperwork. It does not need a policy number or a recommendation about coverage. The NAIC locator serves a different purpose from searching for a living person's policy.
J
- 1Joint account
A joint account has more than one owner. The account agreement and ownership terms affect what happens if an owner dies. Adding an owner differs from naming a trusted contact or a beneficiary. CFPB advises checking the agreement or asking the bank about ownership terms. Use your paper list to record the institution and where its paperwork is kept.
L
- 1Legacy Contact
A Legacy Contact is a person chosen through a provider's own account setting for a later request. Apple's setting concerns certain data after your death. It does not mean sharing a password or granting unrestricted account access today. Apple requires an access key and death documentation. Different companies offer different routes, so keep the provider and setting name with each account.
- 2Letter of instruction
Here, a letter of instruction means a personal note explaining where things are and what you want your family to know. It is not a will. A note can point to existing papers, the people you chose and everyday arrangements. Keep it separate from legal documents. Write in your own words. A lawyer can explain which wishes require a legal document in your state.
- 3Living will
A living will records your wishes for medical treatment if you cannot make your own emergency-treatment decisions. It concerns care rather than distributing property. The similar names can cause confusion. Keep your health care instructions identifiable in your paper list. Tell the person you chose where to find them. Ask your clinician about medical choices and a lawyer about state rules.
M
- 1Medical records
Medical records contain information about your health care. They are different from a short list of your doctors, medicines or emergency contacts. HIPAA generally gives you access rights to records held by covered providers and plans, with exceptions. Our preparation sheets record where information is kept. They do not ask you to upload clinical records or interpret treatment information.
O
- 1Original document
Here, original document means the original paper you keep, rather than the place noted in a checklist. The institution decides what version it needs. Record where the paper is and whom your family can ask about it. A note saying a document exists does not establish its validity or make a copy acceptable. Ask the institution or your lawyer about the required version.
P
- 1Passcode
A passcode is the code you use to open a device. It differs from an account password or an institution's permission to act for you. Our phone check asks whether your arrangements are ready. It never asks you to enter the code. Use the device maker's official guidance and decide privately how to keep your own recovery arrangements safe.
- 2Password manager
A password manager stores passwords and can create and fill them. Its account-recovery and emergency-access options depend on the provider. Keep the provider's name in your account list, without including any password. Check whether it has an emergency-access route and what you must set up yourself. A family planning sheet is not a password vault.
- 3Payable on death
Payable on death, often shortened to POD, describes a deposit arrangement naming beneficiaries to receive funds after the owner dies. You may see this wording on a bank's beneficiary record. It differs from making someone a joint owner while you are alive. Ask the institution to explain the actual account terms and a lawyer about your overall plan.
- 4Pension
A traditional pension is a retirement plan promising a specified benefit, often paid monthly. Other retirement plans can work differently. Use the plan's name when organizing your records. A pension may be with a former employer or a plan administrator. PBGC holds some unclaimed benefits from ended private-sector plans. A search match does not confirm what you are owed.
- 5Personal representative
In probate, a personal representative is the person authorized to represent the estate. Health-privacy rules use the same phrase in another context. Ask which context a form or institution means. California's probate guide describes an estate representative. Medicare's permission form may ask for documents showing authority to act for a living person. One label does not establish permission for every task.
- 6POLST
POLST names a medical-order form about treatment. It differs from a personal planning checklist or a letter to your family. Names and forms differ between states. Ask your clinician whether a POLST or a similar medical order applies to you. Our preparation guides help record where existing papers are kept. They do not choose treatments or produce medical orders.
- 7Power of attorney
A power of attorney is a legal document that authorizes someone to act for you. Its wording and state law determine the authority. You will see this term when you list your important papers and the person you chose for financial decisions. Knowing where a document is differs from knowing what it authorizes. Ask a lawyer in your state about its scope.
- 8Probate
Probate is a legal process concerning a person's property after death. Whether a court process is needed depends on the property and state law. We help you prepare your own account and paper list while you are alive. We do not administer estates or decide which court procedure applies.
R
- 1Representative payee
A representative payee is a person or organization Social Security appoints to manage benefits for someone who cannot manage them. This is a Social Security role. A power of attorney, joint account or family relationship does not itself appoint a payee. Advance designation records who you would like Social Security to consider if a payee becomes necessary.
- 2Retirement account
A retirement account holds savings intended for retirement. Workplace plans and individual arrangements have different names, records and rules. Your account list can name the employer or institution and where statements are kept. The Labor Department's search tool helps locate certain workplace retirement plans. It does not decide benefit eligibility or make payments.
S
- 1Safe deposit box
A safe deposit box is storage space at a bank. It is different from a bank deposit account. Its location alone does not tell your family who may open it. Ask the bank about its agreement and a lawyer about state rules. Keep the location of important papers in your list, without publishing keys or access details.
- 2Savings bond
A U.S. savings bond is money lent to the U.S. government under the bond's terms. It can be an electronic record or an older paper bond. Keep the type and location in your account list. Do not publish bond numbers or account credentials. TreasuryDirect provides the current route for a lost paper bond. The retired Treasury Hunt tool is no longer the place to search.
- 3Small estate affidavit
A small estate affidavit is a written statement used in some state procedures to transfer eligible property after death. Eligibility rules differ by state. California provides one example for certain personal-property transfers. This page does not state a value threshold or tell you to use an affidavit. Ask a lawyer in the relevant state about the property, date of death and current rules.
- 4Survivor benefits
Social Security survivor benefits are monthly payments for eligible family members of a worker who died. Eligibility depends on the program's rules. The term differs from advance designation of a representative payee. Survivor benefits concern an eligible family member's benefit claim. Advance designation records your preference about who might manage your own benefits if needed.
T
- 1Tax refund
A tax refund is money returned through the tax system when your return and applicable rules produce an amount due back to you. Use the IRS service to check a federal refund. Our account list can record that tax paperwork exists and where it is kept. It never asks for tax identifiers or the amount of a refund. State refunds use state services.
- 2Transfer on death
Transfer on death, often shortened to TOD, can name who receives securities when their owner dies. Other uses of the term depend on state law. This definition concerns the securities registration described by the SEC. Do not assume that a bank account, home or investment uses the same procedure. Ask the institution what its record says. A lawyer can explain state-specific effects.
- 3Trust
A trust is a legal arrangement concerning property managed for named people or purposes. The trust document and law determine its terms. CFPB describes a revocable living trust as one example. Do not assume that every asset belongs to a trust because a trust document exists. Keep its location in your paper list and ask a lawyer about its scope.
- 4Trusted contact
A trusted contact is someone your brokerage may contact in limited circumstances. Naming them does not give them trading or account authority. The role differs from a power of attorney and from a beneficiary. Ask your brokerage which role each person holds. Keep the firm's contact details in your family account list without writing account numbers.
U
- 1Unclaimed property
Unclaimed property is money or other property left inactive with a company or financial institution. State programs can hold it for its owner. Use the official program for a state where you have lived or had an account. A search result alone does not establish ownership. Follow that program's claim instructions and provide identity details only through its official service.
Put the words into practice
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