Personal representatives often administer estates without a legal advisor. If administered incorrectly, there could be several repercussions for beneficiaries or the executors in a personal capacity. Interpretation Wills contain legal jargon...
Administrative powers | Provisions which give executors certain powers which they may need in administering an estate. |
Attestation clause | A clause at the end of the Will which confirms that certain Will making requirements have been met. |
Beneficiary | Somebody who benefits from a gift in a Will |
Chattels | Your moveable objects such as furniture and jewellery. |
Codicil | A legally binding amendment to a Will. |
Executor | Someone appointed in a Will to deal with the estate and affairs of a deceased person. |
Guardian | Someone appointed to look after a child of the deceased who is under 18 years of age. |
Pecuniary legacy | A gift of an amount of money. |
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 liabilities have been paid and gifts of money and specific items under the Will have been made. |
Revocation clause | Revokes former testamentary documents. |
Specific legacy | A gift of a specific chattel. |
Testamentary document | A Will or Codicil. |
Testator/Testatrix | Someone who makes a Will (male/female). |
Trustee | In a Will a Trustee is appointed to administer ongoing Trusts set up under the Will |
Will | A legally binding document which sets out what is to happen to your estate after you die. |
Witness | A Will must be witnessed by at least two witnesses who must also sign their names. |