Glossary of Terms for Probate and Wills
There are 42 entries in this glossary.All
| Term | Definition |
|---|---|
| Administrator |
Someone who is appointed by law to settle your affairs if you die without a Will (Intestate) |
| Affidavit |
Written statement by a person called 'the Deponent', who signs it and swears or affirms to the truth of its contents |
| Annuities |
Refer to Annuity |
| Annuity |
A contract sold by an insurance company or financial institution designed to provide payments to the holder at specified intervals, usually after retirement. |
| Asset |
An asset is a possession of value that can be left in a Willi, such as a house or land, money, shares in a Company, works of art, or a life insurance policy |
| Beneficiaries |
Plural of Beneficiary |
| Beneficiary |
A beneficiary is someone who receives benefits from a Trust, Estate or Will. |
| Bequeath |
To leave to somebody or dispose of as in a Will |
| Bequest |
A bequest is a gift, such as cash or property, left in your Will (see also Legacy). |
| Bona Vacantia |
Assets which are left without an owner on death except the State |
| Caveat |
A warning entry made at a Probate Registry to prevent a grant of representation being issued. (Probate) |
| Codicil |
A further document making a change, or adding to, an existing Will. It must comply with the same formalities as the Will. It should be filed with the original Will but not attached to it. |
| Commorientes |
The situation where persons die together in circumstances where it is not certain who died first. |
| De Bonis Non |
Unadministered assets |
| Deceased |
The person who has died. |
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