wills
probate wills & probate a wills a wills
a
a
a

Glossary of Terms

The following terms are those that are commonly used in the Wills and Probate process:


Administrator – The person who deals with (administers) the estate of the person who has died intestate (without a will).

Bequest – A gift of a particular object.

Child – In will or intestacy matters, the children of the deceased include their adopted and illegitimate children, but not their step-children (unless they are specifically mentioned).

Common-law spouse – This term has no legal relevance, although a partner who lived with the deceased for two or more years before their death might be able to claim a share of the estate.

Devise – A gift of a house or land.

Estate – All the assets and property of the deceased, including all houses, cars, investments, money and belongings.

Executor – The person appointed in the will to deal with the estate of the deceased.

Inheritance Tax – The tax that may have to be paid when the total estate of a person who has died is more than a certain amount (currently £315,000).

Intestate – The term used to describe someone who has died without making a Will.

Issue – All the descendants of a person (children, grandchildren, great-grandchildren etc.).

Legacy – A gift of money (usually a specific amount).

Letters of Administration – The document issued to the administrators by the Probate Registry to authorise them to deal with the estate.

Life interest – The right to receive the income or benefit for property or capital sum (but not the capital sum itself) for life.

Minor – A person under 18

Next of kin – The person who is legally entitled to the estate of the deceased should they die intestate.

Nil rate band – The value of an estate up to which inheritance tax is not payable.

Personal chattels – Personal belongings, including jewellery, cars, furniture, books, wine and pictures (but not money, investments, property or business assets).

Person estate – All the investments and belongings of a person apart from land and buildings.

Personal representative – A general term of administration and executors.

Probate of the Will – The document issued to executors by the probate registry to authorise them to deal with the estate.

Proving the Will – Making the application for probate to the probate registry.

Probate registry – A court within the Family Division of the High Court that deals with probate and administration matters.

Real estate – Land and buildings owned by a person.

Remainder man – The person who gets the property or capital sum after the death of the person holding a ‘life interest’.

Residue – The remaining balance of an estate left once all debts and specific bequests have been made.

Specific bequests – Particular items gifted by the Will. Also known as specific legacies.

Testator – A person who makes a Will. Testatrix is sometimes used to refer to a female Will-maker.

Will – The document in which you say what will happen to your money and possessions on your death.

 


 

willsa

a a a a a a a a a a a