Glossary

 FAQs
Glossary
 


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

  • Address: The number, street name, and other information that describes your legal residence. For the purposes of your Will, your legal residence is usually the one in which you pay taxes, register to vote and have your automobile registered.

  • Able: Physically or mentally equipped to do something, especially because of circumstances and timing; having the necessary resources or talent to do something.

  • Alternate: Different from and serving, or able to serve, as a substitute for something else; somebody who acts as a substitute for somebody else.

  • Assets: A property to which a value can be assigned; the property of a person that can be taken by law for the settlement of debts or that forms part of a dead person's estate.

  • Attest: To show that something exists or is true or valid; to state that something is true, especially in a formal written statement.

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B

  • Bequeath: To leave personal or other property to somebody after death by means of a will; to hand something, for example, knowledge or a practice, down to future generations.

  • Bequest: Something disposed of in a will; something passed down to future generations; an act of bequeathing something.

  • Beneficiary: Somebody who receives a benefit from something; somebody who is entitled by a will, trust, or insurance policy to receive money or property.

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C

  • Child: A young human being between birth and puberty; a son or daughter of human parents; someone under a legally specified age who is considered not to be legally responsible for his or her actions.

  • Codicil: An additional part of a will that either modifies it or revokes part of it; an appendix or supplement to a text (formal)

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D

  • Dependent: A family member or other person who is supported financially by another, especially one living in the same house; not able to live without support from other people, especially financial support from a parent or child.

  • Discretion: The good judgement and sensitivity needed to avoid embarrassing or upsetting others; the freedom or authority to judge something or make a decision about it.
    Discretionary: Giving somebody the freedom to make a decision according to individual circumstances.
    Disposal: The transferring of something valuable to another by sale or gift.
    Disposition: Settlement of a business or legal matter.

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E

  • Executor: Somebody named in a will or appointed by a court to carry out the instructions contained in a will; somebody who carries something out, for example, an order.

  • Estate: The whole of somebody's property, possessions, and capital; the assets and liabilities of somebody who is dead or bankrupt.

  • Effects: Somebody's personal belongings, or the things that somebody is carrying about him or her (formal).

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G

  • Guardian: A person who watches over or protects somebody or something, or an organization with a protecting role; somebody who is legally appointed to look after the affairs of another, especially those of a minor.

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H

  • Honorarium: An amount of money paid to somebody, especially a professional or famous person, for providing a service.

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I

  • Illegitimate: Not complying with the law, or not under the law; born to parents who are not married to each other.

  • Intestate: not having made a legally valid will, somebody who has died without having made a legally valid will.

  • Inheritance: Money, property, or a title that has been inherited or is to be inherited; hereditary ownership of wealth or a title, or the succession to wealth or a title; the right of an heir to inherit wealth or a title when an ancestor dies; something that is inherited from the past.

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L

  • Legitimate: Complying with the law, or under the law; born of legally married parents.

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M

  • Minor: Younger than the legal age of adulthood; someone who has not reached the legal age of adulthood.

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N

  • Nominate: To suggest somebody for appointment or election to a position or for an honour or award; to appoint somebody to a position, or make somebody responsible for a duty

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O

  • Original: The first or unique item from which copies or alternative versions are made; completely new, and so not copied or derived from something else; relating to or being something from which a copy or alternative version has been made.

  • Owner: Somebody who owns something

  • Organization: A group of people identified by shared interests or purpose, for example, a business.

  • Occupation: The job by which somebody earns a living; an activity on which time is spent.

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P

  • Percentage: A proportion stated in terms of one-hundredths that is achieved by multiplying an amount by a percent; a proportion of a larger group or set.

  • Possession: The act or state of owning or holding something; something owned or held; the physical occupancy of something, for example, a house, whether or not accompanied by ownership.

  • Pre-deceased: Someone who's death occurred before the death in question; a death that occurred before the death in question.

  • Priority: The state of having most importance or urgency; the state of having preceded something else; the right to be ranked above others.

  • Probate: The legal certification of the validity of a will; an official copy of a will that is legally certified as genuine and given to the executors.

  • Property: Something of value such as land or a patent that is owned; a piece of land or real estate that is owned by somebody.

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R

  • Revoke: To make something null and void by withdrawing, recalling, or reversing it.

  • Revocation: The cancellation or withdrawal of something such as a law, license or Will.

  • Residence: The house, apartment, or other dwelling in which somebody lives.

  • Residue: The remainder of a deceased person's estate after debts have been paid and bequests distributed.

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S

  • Succession: A sequence of people or things coming one after the other in time; the assumption of a position or title, the right to take it up, or the order in which it is taken up.

  • Spouse: Somebody's husband or wife.

  • Survive: To manage to stay alive or continue to exist, especially in difficult situations; to remain alive after the death of somebody else.

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T

  • Trust: Confidence in and reliance on good qualities, especially fairness, truth, honour, or ability; the position of somebody who is expected by others to behave responsibly or honourably; the legal holding and managing of money or property belonging to somebody else, for example, that of a minor; a legal arrangement by which one person (trustee) holds and manages money or property belonging to somebody else.

  • Trustee: The legal holding and managing of money or property belonging to somebody else, for example, that of a minor; a legal arrangement by which one person (trustee) holds and manages money or property belonging to somebody else.

  • Testament: A formal statement or speech outlining beliefs; an old word for a legal will, used most often in the phrase "last will and testament."

  • Testamentary: Relating to a will; bequeathed or set out in a will.

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U

  • Unable: Not able to do something.

  • Unwilling: Not willing to do something.

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V

  • Vacancy: An office, position, or tenancy that is unfilled or unoccupied.

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