The "technical" term I use most in educating about personal finance is… BUCKET. It’s useful in so many areas of financial planning. You put your money into checking account buckets and set-up various budget buckets. You contribute money to a 401(k) bucket during your working years and then take money out of that bucket in retirement.
This video is 90 seconds of instruction on the primary decisions you face in creating the optimal Will…the document you should have properly written before you KICK the bucket!