Wills can include a number of unfamiliar legal terms and phrases that are not always easy to understand. This glossary explains some of the most commonly used terms you’re likely to come across.
The person responsible for administering an estate when there is no valid Will or no executor has been appointed.
Everything you own, including money, property, investments, vehicles and belongings.
A person, group or organisation named in a Will who will receive a gift from an estate.
A gift left to a person or organisation in a Will.
Personal possessions and movable items, such as furniture, jewellery, artwork or vehicles.
A legal document used to make changes or additions to an existing Will without rewriting the entire document.
A gift in a Will that will only be given if certain conditions or circumstances are met.
A legal document that allows beneficiaries to change how part or all of an estate is distributed after someone has died.
The total value of a person’s money, property, possessions and other assets at the time of their death.
The person or people appointed in a Will to administer the estate and carry out the wishes set out in the Will.
A tax that may be charged on an estate after someone dies, depending on the value of the estate and current tax rules.
The legal rules that determine how an estate is distributed when someone dies without a valid Will.
Legal documents issued by the court that give someone the authority to deal with an estate when there is no valid Will, or when no executor can act.
Any debts, financial obligations, or amounts owed by a person or estate, such as mortgages, loans, or unpaid bills.
A type of gift in a Will that allows someone to benefit from an asset, property or income during their lifetime before it passes to another beneficiary at a later date.
Two separate but usually similar Wills, commonly made by couples, which often leave assets to one another before passing them to other beneficiaries.
A legal document that gives someone the authority to make decisions on another person’s behalf.
The legal process of administering an estate and confirming the authority of the executor to deal with the deceased person’s affairs.
The remaining part of an estate after debts, taxes, expenses, and any specific or pecuniary gifts have been distributed.
A share or percentage of the residual estate left to a beneficiary or charity. This type of gift can retain its value over time, as it reflects the overall value of the estate.
A particular item or asset left in a Will, such as jewellery, property, artwork, or shares.
The person who has made the Will.
A legal arrangement where assets are held and managed by one person or organisation for the benefit of another person or group.
A person or organisation appointed to manage assets or money held within a trust.
A legal document that sets out how a person wishes their estate and assets to be distributed after their death.
A person who observes the signing of a Will and confirms that it has been signed correctly.
