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Glossary for Probate

Administrator

Someone appointed by the Probate Registry to administer the estate of someone who dies without making a Will.

Chattels

Moveable goods such as furniture and jewellery.

Corrective Account

An inheritance tax form which notifies HMRC about changes to the inheritance tax liability of an estate during the administration period.

Estate

What someone owns at the date of their death, eg. property, Bank accounts and investments.

Estate Accounts

A document approved by the personal representative and residuary beneficiary at the end of the administration of the estate.  It sets out the assets and liabilities as at the date of death, what has been paid from the estate and received into the estate since death and the amount passing to the beneficiaries.

Executor

Someone appointed in a Will to administer the estate of a deceased person.

Grant of Letters of Administration

An Order made by the Probate Registry enabling an Administrator to administer the estate of a someone who dies without a Will.

Grant of Probate

An Order granted by the Probate Registry enabling an executor to administer the Will of a deceased.

Guardian

Someone appointed to look after a child of the deceased who is under 18 years of age.

HMRC

Her Majesty’s Revenue & Customs

IHT

Inheritance Tax

IHT205

Inheritance tax form required where no inheritance tax needs to be paid

IHT400

Inheritance tax form required where inheritance tax must be paid (or in certain complicated estates where no inheritance tax needs to be paid).

Interim Distribution

A distribution of the residuary estate made during the administration process and prior to the final distribution being made.

Intestacy

Where somebody dies without making a Will.

Oath

A document which must be sworn in front of a Solicitor or Commissioner of Oaths by a Personal Representative promising to administer the estate of the deceased properly (soon to be replaced by Statement of Truth).

Pecuniary legacy

A gift of an amount of money.

Personal Representative

An umbrella term to cover executors and administrators.

Probate Registry

A branch of the High Court dealing with matters relating to deceased persons.

Residuary Beneficiary

A beneficiary who is entitled to all or a part of the residuary estate.

Residuary Estate/Residue

What is left after the deceased’s labilities have been paid and gifts of money and specific items under the Will have been made.

Specific legacy

A gift of a specific chattel.

Statement of Truth

A document which must be signed by a Personal Representative promising to administer the estate of the deceased properly.

Statutory Notices

Notices placed in certain publications asking estate creditors to contact the Personal Representatives.  Gives protection to the Personal Representatives but creditors can still go against beneficiaries of an estate.

Trustee

In relation to probate matters, this is somebody who is appointed by a Will or the intestacy rules to administer ongoing trusts.