Here Is Our Glossary Banstead
Creating a will requires familiarity with legal terminology, which can initially feel overwhelming. By understanding the meanings of commonly used words and terms, you will be better equipped to navigate the important process of drafting a will. Our goal is to provide you with unique and engaging content to assist you every step of the way.
Administrator
This is somebody who manages the financial affairs of the deceased where there is no Will.
Normally the administrator is someone who is the next of kin.
Asset
This can be anything you own that is of value. This can include property.
Beneficiary/Beneficiaries
Those who have been left money or other benefits in a Will.
Bequest
A gift made in a Will to an individual or body.
Children
The children of the deceased. This means illegitimate and adopted children but not stepchildren unless the Will includes provision for them.
Codicil
This is a legal document that alters or adds to an existing Will and therefore needs to be kept with it. Like a WillBanstead, it also has to be witnessed.
Executor
Grant of Probate
Guardian
Inheritance Tax
Intestacy
Legacy
Letters of administration
Life Interest
Personal Chattels
Probate
Probate Registry Banstead
Property
Residue
Schedule
Testator
Trust
Will