Legal terms

Just what does all that legal language mean?

Administrators	the people (often family members) who manage and distribute your estate if you don't make a Will.
Beneficiary	anyone who receives something from your Will.
Bequest or Legacy	a specific amount of money or item left in your Will.
Codicil	a separate document making a change, or adding to an existing Will. It must be witnessed in its own right and kept with your Will.
Crown	where the money goes (your estate) if you have no next of kin and did not make a Will.
Estate	the total of what you leave.
Executors	people you ask (and name in your Will) to look after your affairs according to the terms of your Will.
Inheritance Tax	a tax paid on estates above a certain value. Check with a solicitor or financial advisor for the most up to date details.
Intestate, intestacy	someone who dies without having made a Will, or when the wishes in your Will do not cover all of your estate.
Pecuniary bequest	a bequest of a fixed amount of money.
Probate	procedure whereby it is formally established whether you left a valid Will and who your executors will be.
Residue	what's left of your estate after payment of debts, taxes, costs, pecuniary and specific gifts have been made.
Residuary bequest	all (or a share of) the residue of your estate.
Specific bequest	a gift of a particular item (not money).
Testator/Testatrix	a man/woman making a Will.
Trustee	a person responsible for any part of your estate left in trust.

If you need more information about our work before you make a decision about leaving a gift in your will, please get in touch.