Wills Jargon Buster
Explaining the legal issues around a will involve using quite a few legal terms that the general public may not be familiar with. Here are the definitions of commonly used terms:
Administration of an Estate: is the term used to describe the gathering in of assets, paying the debts attaching to the estate, paying out the bequests according to the instructins in the will and ensuring that all tax affairs are properly dealt with.
Testate: A person has died leaving a valid will.
Intestate/Intestacy: A person had died without leaving a valid will.
Partial Intestacy: A person has died and their will does not fully deal with their affairs.
Codicil: Is an addition to a will. It is almost like a "P.S." at the end of a letter.
Executor/Executrix: Is the person who is appointed under a will to administer the estate of the Deceased.
Testator/Testatrix: Is the person who has made the will.
Legal Personal Representative: is the person who has taken out the Grant of Representation to administer the Deceased's estate.
Grant of Probate: is the document issued by the Probate Office authorising the Executor(s) to administer the Deceased's estate.
Grant or Letters of Administration with Will Annexed: is the document issued by the Probate Office authorising somebody other than the person named in the will of the Deceased to administer the Deceased's estate.
Grant or Letters of Administration on Intestacy: is the document issued by the Probate Office authorising somebody to administer the affairs of a person who died without making a will.
Grant of Representation: a catch-all phrase used to describe Grants of Probate and Letters of Administration.
Legacy/Bequest: is an inheritance/gift to somebody under a will.
Residue: is everything that the person owns that is not specifically given to somebody under the terms of their will.
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