Administrator: someone who is appointed by law to settle your affairs if you die without a Will

Administration, Letters of
Granted by a court to administrators (usually the next of kin) to give them the authority they need to act and to administer/distribute the estate where there is no Will.

Assets
Generally everything that you own.

Beneficiary: anyone who receives from a Will

Bequest
A gift left in a Will.

Chargeable gift
A gift on which Inheritance Tax may be payable.

Codicil: to change an existing Will you can add a codicil. Often it is as easy and no more costly to make another Will.

Crown or Treasury: the government. If you do not have a Will and have no next of kin, the Crown receives your estate.

Devise
A gift by Will of freehold property.

Estate: is the total value of everything you own at your death, less any outstanding commitments.

Executor/Executorix (M/F): those people you choose to make your Will happen. You may have one or two. Often this will be a friend and a local solicitor.

Funeral arrangements: directions you can give in your will regarding your wishes such as details of your burial, funeral services, 'In memoriam' gifts in lieu of flowers, etc.

Guardian
Someone appointed to look after the interests of a child under the age of 18.

Inheritance Tax: Tax payable on the transfer of assets either during an individual's lifetime or on his or her death.

Intestacy : the name for the situation that arises when someone dies without making a Will.

Legacy: a gift in a Will. It can be
- Specific legacy: a definite object or property
- Pecuniary legacy: a gift of a specific sum of money
- Residual legacy: (the residue): a gift of the money or asset left when other legacies and expenses have been paid - i.e. the remainder.
- Life Interest: eg 'to my wife for her use in her lifetime, then to charity'
- Conditional Interest: a legacy which is dependent upon an event or specified criteria being met.

Life Interest
The right to enjoy for life (or until a specified time period has elapsed or an event has occurred, like someone remarrying) either money or property which will eventually revert to the original estate in some way on death - instructions are included in the Will as to what should happen to the gift when the life interest ends.

Pecuniary Legacy
A gift of money under a Will.

Potentially Exempt Transfer (PET)
A gift made during ones lifetime that is exempt from Inheritance Tax if the donor lives for seven years after making the gift.

Predeceased
Someone who dies before the person who has made the Will.

Probate, Grant of
The document which confirms to executors that they have authority to act, and which validates the Will.

Residue
What is left of the estate after the payment of all debts, taxes, administration expenses, legacies and bequests under the Will.

Reversionary Interest
Interest in trust property.

Testator/Testatrix (M/F): this is you - the person making the Will.

Trust: an arrangement you can make in your Will to administer part of your assets after your death. You can only make a limited Trust (To make a Nil Rate Band Discretionary Trust). For more complicated Trust provisions, you should contact a local Solicitor (See one of the solicitors listed).

Trustee
The person who holds property on behalf of another person and is responsible for administering the trust assets.

Variation, Deed of
An arrangement whereby certain provisions under a Will may be varied by consent of the beneficiaries.

Will
A form of instructions as to how someone wishes to dispose of their assets on death.

Witness: Two witnesses must see you sign your Will and you must also watch both of them sign it. They must also watch each other sign the Will. No beneficiary (or their spouse) should sign the Will; if they do, any gift to them or their spouse will be invalid and will fail.