Essential Elder Law Terms and Definitions

By definition, elder law issues are filled with legal terms and definitions. An experienced elder law attorney like Adam Tobin is your best resource for explaining legal terms often encountered when creating one’s estate plan or dealing with legal issues. It can also be helpful to have a glossary of terms. Here are some of the most common legal terms terms that relate to elder law.

If you haven’t prepared an estate plan for yourself or helped a loved one prepare theirs, contact us today to get started. The Law Offices of Adam Tobin can help you establish your estate plan or answer any questions you may have about estate planning or elder law issues.

Administrator

A person appointed by a court to administer the estate or a deceased person who did not leave a will.

Advanced Directive

A legal document that allows a person to specify their medical care or treatment in the event that they become incapacitated and unable to communicate these wishes at a later time.

Beneficiary

The person or persons you name to receive property or money in a trust, will, insurance policy, annuity, or retirement plan.

Codicil

A written amendment to a person’s will that must be dated, signed, and witnessed. A codicil can add to, change, or revise the terms of the original will. If a will contains a codicil, both are submitted to the court for approval.

Community Spouse

The husband or wife of a Medicaid applicant who is receiving Medicaid-funded, long-term care in an institutional setting such as a nursing home.

DNR Order

DNR stands for “do not resuscitate.” A DNR order is a written order from a physcian that tells health care providers not to perform CPR on a patient if the person’s heart stops beating.

Estate Plan

A set of legal documents that determine how a person’s assets will be managed and distributed after death. An estate plan protects one’s assets while they are alive and states how assets should be distrbuted after one dies.

Executor

An individual appointed by the testator of a will whose main duty is to carry out the terms of the will as directed by the deceased person.

Fiduciary

A person or organization that acts on behalf of another person and has the legal duty of acting primarily for that person’s benefit.

Living Will

A living will allows a person who is unconscious or incapacitated to express his or her desires regarding the use of extraordinary measures to extend his or her life when there is no reasonable expectation that he or she will regain consciousness or recover.

Power of Attorney

A legal document that expressly authorizes another person to manage your financial affairs. Massachusetts state law creates two different powers of Attorney: a durable power of attorney in which the power is immediately transferred to your “attorney-in-fact” or a springing or future power of attorney that takes effect upon a person’s subsequent disability as determined by their physician.

Probate

The process of validating a will and disposing of assets as prescribed in a person’s will. Most locations have special probate courts that are dedicated to this process.

Trust

A trust allows for assets to be distributed to beneficiaries at a specific time or for a specific purpose. This allows a person to have more control over the distribution of their assets to their beneficiaries. There are two basic forms of trusts: after-death (or testamentary) trusts and living (or inter vivos) trusts. https://www.adamtobinlaw.com/living-trust-attorney

Will

A legal document that designates the person or persons who will receive the assets you own upon your death. A will is also the instrument used to appoint legal guardians for your minor children. A will does not override a beneficiary designation on a life insurance policy, retirement plan, or a joint form of ownership.