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Glossary

Administrator:

A person appointed to deal with the estate of a person who has either died intestate or without naming a valid executor.

Assets:

These represent everything that a person owns. This can include property, land, shares and cash.

Attestation clause

This is the statement in a Will before the signatures verifying that both the Testator and witnesses are present at the signing.

Beneficiary:

Any person who benefits from a Will.

Deceased:

A dead person

Estate:

The total property of a deceased person.

Executor:

The person named in a Will to administer the estate.

Inheritance Tax:

The tax payable on the estate of a deceased person should the assets be above a nil - band

threshold.

Intestate:

A person who dies without having made a Will.

Probate:

The process of officially proving the validity of a Will.

Revoke:

The legal term for cancelling a Will.

Testator:

The person who makes the Will.

Trust:

A legal arrangement where a person (the Trustee) holds an asset for the benefit of one legally to it.

Trustee:

A person nominated to deal with a Trust.

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