AB Trust
A trust designed to assure that the personal estate tax exemption of each spouse is used correctly. The surviving spouse should have access to the assets of the deceased spouse during the remainder of the surviving spouse's lifetime.

Administrator
A person appointed to handle the affairs of the deceased.

Annual exclusion
An exclusion allowing a person to give away a certain amount each year as a “gift” without paying gift taxes.

Assets
Items of value.

Attorney-in-Fact
An individual designated in a power of attorney document, to act as the agent of the person who has executed the document.