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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).
Escheat to the state
Definition:
When no heirs have made claims to either all or part of an estate, the state receives the unclaimed estate.
Joint tenancy
Definition:
A property held in joint tenancy is owned by two or more people who have an undivided interest in the property, and the interest continues even after the other owners die.
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