Glossary

The most commonly used words and expressions are listed below.

Administrator(m)/Administratrix(f): The name given to a personal representative if not appointed by a valid will. This person will usually have to obtain a grant of letters of administration from the Probate Registry to show that he or she is the person with legal authority to deal with the deceased's estate.

Assets: A persons' Land, buildings, investments, savings and Personal Chattels which together make up their 'estate'.

Beneficiary: A person who benefits from a Will.

Bequest: A gift of a particular object or cash (as opposed to 'Devise', which means land or buildings).

Charity: An organisation registered as a UK charity or other qualifying organisation e.g. Hospices.

Civil Partner: A person who has entered into a civil partnership with another person.

Civil Partnership: The relationship between two civil partners registered under the Civil Partnership Act 2004.

Child (referred to in a will or intestacy): Child of the deceased including adopted and illegitimate children but, unless specifically included in a Will, not stepchildren.

Class of persons: A group of people with a particular common link, e.g. all my grandchildren, or all my first cousins.

Codicil: A document that alters an existing Will.

Co-habitee: A partner of the deceased who may be able to claim a share of the estate. The term 'common law wife' has no legal force.

Domicile: The country you consider to be your permanent home even if you actually reside elsewhere. It is distinct from nationality and place of residence.

En Ventre Sa Mere: This means a child unborn within the mother's womb.

Estate: For inheritance tax purposes since 22 March 2006, this includes a person's assets in their sole name, their share of joint assets, assets they have nominated elsewhere, assets in trust (an immediate post death interest, disabled person's interest or a transitional serial interest) from which they had a benefit, assets given away but in respect of which a benefit had been reserved and the value of alternatively secured pension funds where the deceased had benefits as an original member or as a dependant who received benefits in succession to an original member. The value of chargeable transfers within seven years of death (most usually gifts other than those to individuals) must be added in order to calculate the inheritance tax due.

Excepted estate: One that is less than £325,000 or more than £325,000 but less than £1,000,000 and no Inheritance Tax is payable because the estate passes to a spouse, civil partner or a charity.

Executor(m)/Executrix(f): The name given to a personal representative if he or she is appointed by a valid Will or codicil. The executor will usually have to apply for probate of the Will to show that he or she is the person with legal authority to deal with the property of the deceased.

Free of Tax: Gifts made by Will can be expressed to be free of tax which means that any inheritance tax on the value of that gift is borne by the residuary estate.

Grant of probate: The document issued by the probate registry to the Executors of a Will to authorise them to administer the estate of someone who has died.

Guardian: A person who would become responsible for your children in the event of your death before your children are 18 years old.

Inheritance tax (IHT): The tax that may be payable when the total estate of the deceased person exceeds a set threshold (subject to various exemptions and adjustments).

Intestate: A person who dies without making a Will.

Issue: Your children and all generations arising from them - grandchildren, great-grandchildren, and so on.

Joint Tenants: Where two or more people own assets as 'Joint Tenants' it means that on the occasion of the death of one of them their share in that asset passes automatically to the surviving co-owner(s) and not as part of their estate under their Will.

Legacy: A gift of money or object.

Letters of administration: The document issued by the probate registry to the administrator of the estate of an intestate person.

Letters of administration with Will annexed: The document issued by the probate registry to the administrator when there is a Will but the Will does not deal with everything e.g. it fails to appoint an Executor.

Minor: A person under 18 years of age.

Per Stirpes: Where a gift is made to children it is shared equally.

Personal Chattels: These are defined in Section 55 (1) (x) Administration of Estates Act 1925 and mean 'carriages, horses, stable furniture and effects (not used for business purposes), motor cars and accessories (not used for business purposes), garden effects, domestic animals, plate, plated articles, linen, china, glass, books, pictures, prints, furniture, jewellery, articles of household or personal use or ornament, musical and scientific instruments and apparatus, wines, liquors and consumable stores, but do not include any chattels used at the death of the intestate for business purposes nor money or securities for money'.

Personal representative: A general term for both administrators and executors.
Probate of the Will: The document issued to executors by a probate registry in England, Wales and Northern Ireland to authorise them to administer the estate.
Probate Registry: The government office that deals with probate matters. The Principal Probate Registry is in London with district registries in cities and some large towns.

Residuary Beneficiary: A person who gets or shares what is left of the estate after all debts, taxes and specific legacies have been paid.

Residuary Estate: Means your estate after the deduction of specific gifts and money gifts, debts, funeral and testamentary expenses.

Spouse: A person who is married to someone else and that relationship is recognised by law.

STEP: Means The Society of Trusts and Estate Practitioners.  Often Wills, as in the case of your Will prepared using this service, include a clause: 'The Standard Provisions of the Society of Trust and Estate Practitioners (1st Edition) shall apply with the deletion of paragraph 5 Section 11 Trust of Land and Appointment of Trustees Act 1996 (consultation with beneficiaries) shall not apply.'  The Standard Provisions are a collection of administrative provisions which enable the Executors to administer your estate efficiently and effectively.  If you have chosen professional Executors e.g. a firm of solicitors these Standard Provisions enable them to charge for their services.  A copy of the STEP Standard Provisions can be downloaded from http://www.step.org/attach.pl/28/211/STEP%20Standard%20Provisions.doc

Subject to Tax: Gifts made by Will can be expressed to be subject to tax which means that the gift bears its own tax rather than having the tax on it paid out of the Residuary Estate.

Tenants in Common: Where two or more people own assets as 'Tenants in Common' it means that on the occasion of the death of one of them their share in that asset passes in accordance with the provisions of their Will, if they have one, or under the Intestacy Rules if they don't.

Residue: What is left of the estate to share out after all the tax, expenses, debts and specific bequests and legacies have been paid.

Solvent: Value of the assets exceeds any debts and liabilities.

Specific bequests: Particular items gifted by will. They may be referred to as 'specific legacies'.

Testator(m)/Testatrix(f): A person who makes a Will.

Trustee: A person responsible for administering a trust.

Trusts: These are obligations which bind a person holding the legal ownership of assets (Trustee) to deal with the assets for the benefit of others (Beneficiaries). 
The most common form of trusts which arise are Bereaved Minor Trusts; 18-25 Trusts; Disabled Persons Interest Trusts; Relevant Property Trusts; Immediate Post Death Interests, Transitional Serial Interests and Discretionary Trusts.  If you need or want further information or advice in respect of these or other Trusts then we suggest you take independent specialist advice.

Will: The document in which you say what is to happen to your possessions on your death.