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What do terms mean?
So we are here to take the wiggle out of will writing by breaking down the jargon used
and explaining everything clearly.
Wills are full of terms that you’ve most likely never even heard of before. Knowing a few commonly used words and phrases can be a useful tool in making the all-important document known as a Will. Count on us for interesting and entertaining content by exploring our Glossary Chelmsford, where we simplify complex legal jargon to make wills easier to understand.
Administrator
This is the person who administers the deceased's, estate where no Will exists.
The administrator is usually a blood relative.
Asset
This can be any form of secure value that you already possess. This can include property.
Beneficiaries
Beneficiaries People who have been given money or something else in a Will.
Bequest
A gift created by a Will to a person or organization.
Children
The children of the deceased. That is illegitimate and adopted children, but not stepchildren unless the Will specifically makes provision for them.
Codicil
This is a legal testament that changes or adds to your existing Will and should therefore be stored with it. It's hardly even worth watching unless it's also a Will Chelmsford.
Executor
For an individual or a respected organization like a bank or solicitor, they have been given legal responsibility by the person who has passed away to deal with their financial matters as outlined in their Will.
Grant of Probate
This is the power of the Court for the Executor to deal with the monetary matters of the deceased.
Guardian
By allowing the deceased to make critical arrangements for their Will such as appointing a guardian for their children it means the little ones are in good hands. Ours is to effectively manage and care for the children of the deceased. Count on us to deliver original, informative content in a professional, convincing voice.
Inheritance Tax
This includes paying tax on the portion of an estate that exceeds a certain level.
Intestacy
If a person passes away without a will, it is known as intestate. This also means that the distribution of the estate is carried out with the help of an agreed upon policy.
Legacy
This is an individual or company that you leave a gift to in your Will Chelmsford.
Letters of administration
These are records from the court itself that certify that the individual is authorised to act as the estate administrator.
Life Interest
This is a gift that gives a specific person or people income from an asset or the right to live in a property for life.
Personal Chattels
These are not money or property, but part of the deceased's personal effects.
Probate
This is the legal procedure that must be undergone when a person dies to ensure it is a valid Will. It grants the executors authority to manage the estate.
Probate Registry Chelmsford
This is a sub-service within the Courts service which deals with the Wills and estates of people who have died.
Property
Anything which the deceased owned.
Residue
This is what is left of the estate to be divided up after all the debts, legacies and specific bequests have been paid.
Schedule
This is an inventory of everything that goes into a trust or Will.
Testator
This is the writer of the Will.
Trust
It is a relationship in which a trustee holds and manages property for someone else.
Will
This document is a legal way of saying what the deceased wants to have done with his or her property after they die.
Witnesses
These are individuals who are not and will not be benefiting from the Will. Their task is to sign the Will to acknowledge they witnessed the Testator signing it.
Our unique Trusted will writing service provides you with professional advice and support to help you ensure that your last wishes are properly carried out after you pass away.
We know that deciding on your will can be hard, which is why we offer the help and support needed to get it right.
Our professional team of will writers Chelmsford are at your disposal from start to finish.
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