Glossary

BENEFICIARY

A person who will receive a benefit or asset on the death of the testator

BEQUEATH, DONATE, LEAVE, GIFT

Words describing the testator’s instructions in distributing his/her estate and assets

CODICIL

An amendment or addition to a Will

ESTATE

The property and assets to be distributed following death

EXECUTOR

The person(s) named to administer the estate in line with the wishes of the testator

GRANT OF PROBATE

The legal approval authorising the process of administering and settling the estate of the testator by the executor(s)

GUARDIAN

The persons named to look after your minor children after your death

INTESTATE

The word to describe someone who dies without a Will

LAST WILL & TESTAMENT

The legal document that specifies and records how a person’s property and assets are to be distributed after death

MINOR CHILD

One who has not reached their eighteenth birthday

RESIDUE

The remainder of a person’s estate after payment and settlement of all debts, liabilities, expenses and specific gifts in the Will

TESTATOR

The person who makes a Will