Legal Jargon Explained

LEGAL JARGON GLOSSARY

Administrator

The individual appointed by law to administer someone’s Estate when they die without a Will

Attestation

To bear witness to a legal document confirming the correctness and truth of the document

Beneficiary

Any individual/organisation that benefit/receive from the Will

Codicil

When any changes are made to an existing Will, the addition is called a codicil

En Ventre

Child in the womb at the time of death of the Testator (the person making the Will)

Estate

This is the term used for the total value of a person when they die

Executor

Those entrusted to carry out the instructions within someone’s Will are called Executors. Ordinarily, someone will have two or three Executors. Usually Executor will be family members or friends.

Fiduciary

Refers to the person given a position of trust i.e. the Trustee

Funeral Arrangements

Instructions may be given with someone’s Will, dictating how they wish their funeral to be conducted. This could be in regard to flowers/donations, funeral service, burial, etc.

Intestacy

The whole circumstances created as a result of someone dying and not having a Will is called intestacy

Legacy

This is the term given for any gift in a will. Various types of legacy can be defined as follows:

Specific Legacy:
Any gift appertaining to a specific or certain item/property

Pecuniary Legacy:
A specific financial gift

Residual Legacy:
The residue or amount of money or asset remaining after expenses and other legacies have been paid

Life Interest

Something left to an individual for use in their lifetime only after which it is allocated elsewhere i.e. charity or other beneficiary

Conditional Interest

A legacy (gift) that is only valid if certain conditions are met

Per Stirpes

Refers to an inheritance passing down through the bloodline i.e. from parent to child to grandchild and beyond.

Probate

This is the legal process that is conducted to ensure validity of the Will. If the Will is deemed invalid an Administrator will be appointed by law.

Testator

The Testator is the person who is making the Will.

Trust

This is a special arrangement set up in a Will whereby a proportion of someone’s assets can be administered from after their death.

Witness

It is essential for two witnesses to sign the Will and to watch each other signing the Will. The two Witnesses must also watch you sign the Will. A spouse or beneficiary is not able to sign the Will as this would make any gift to them void.

For further information please email info@foresightwills.co.uk or telephone 01603 268 080.