Sometimes it is hard to understand lawyers because they seem to speak their own language. While WLF|Trust Company tries to speak plain english and avoid speaking in legalese, it is inevitable that legal terms will come up during the estate planning process. Here is a helpful glossary on the most commonly used terms: Agent: Someone who is authorized by another to act for or in the place of that person. Asset: Anything owned by someone that has a value. Attorney-in-fact: Someone who is appointed to act as an agent for another under a Power of Attorney. Beneficiary: One who benefits from the transfer of property. Codicil: An addition to a Will that changes or replaces part of it
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