A | B | C | D-E | F-G | H-I | J-K-L-M-N-O-P | Q-R | S | T-U-V-W-X-Y-Z

A

• Administrators
  Those appointed to administer an estate where there is no will or executor, often solicitors

B

• Bequest
  Another name for a legacy
• Beneficiary
  The named individual or organisation/charity that benefits from your will

C

• Codicil
  A document allowing additional changes to your will. This must be signed and witnessed in the same manner as your will
• Crown
  HM Treasury. This is where the proceeds of your estate will go if you do not have a next of kin and did not make a will (intestate)

E

• Estate
  All assets and debts owned by you at the time of your death
• Executors
  These are the people that you appoint to deal with the affairs of your estate after your death, they are known as ‘Trustees’ in your will

G

• Guardians
  Guardians are the people that are appointed to look after any minors up to the age of 18

I

• Inheritance Tax (IHT)
  May be payable on an estate when someone dies. Transfers made to a charity are exempt from tax. Find out more about IHT by visiting the HM Revenue and Customs website.
• Intestacy
  If you die without making a valid will then you are referred to as ‘intestate’

P

• Pecuniary Legacy
  A fixed sum of money left in your will
• Probate
  Required under law in most cases to formally establish whether you left a legally valid will and who your executors will be

R

• Residuary Legacy
  The residue of an estate or a share of it
• Residue
  The remains of your estate after payment of all debts, expenses, tax and distribution of any legacies be it specific or pecuniary

S

• Specific Legacy
  An item that is tangible, for example, a piece of jewellery or furniture

T

• Testator
  As the person making the will, you are the Testator

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