TERMINOLOGY

The following are some basic terminologies that will be useful to aid your understanding on the scope of Will writing.

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Administrator
The person appointed by the court to handle the estate of someone who died without a Will or with a Will but no nominated executor.

Affidavit
Written statement by a person, who signs it and swears under oath.

Asset
Generally any item of property that has monetary value, such as a house or land, money, shares in a Company, works of art, or a life insurance policy.

Beneficiary
A beneficiary is someone who receives benefits from a 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 a Will.

Caveat
A legal notice to a court to prevent a grant of Probate being issued.

Codicil
A document that changes, revokes, or amends part or all of a validly executed Will. It is filed with the original Will but not attached to it.

Deceased
The person who has died.

Domicile
Treat a specific country as a permanent home, reside or be based.

Estate
All the possessions of one who has died and are subject to probate (administration supervised by the court) and distribution to heirs and beneficiaries.

Executor
A person named by a maker of a will, or nominated by the testator, to carry out the directions of the Will.

Guardian
The person appointed by the court to control and care for a minor. The person appointed by the court to look after an incapacitated adult may also be known as a guardian.

Intestate
A situation where a person dies without leaving a valid will.

Minor
Any person who is below 21 years old.

Probate
The process of proving a Will is valid and thereafter administering the estate of a dead person according to the terms of the Will.

Trustee
A person who holds property, authority, or a position of trust or responsibility for the benefit of another.

Undue influence
The amount of pressure which one uses to force someone to execute a Will leaving assets in a particular way, to make a direct gift while alive or to sign a contract. The pressure that takes away a person’s free will to make decisions, substituting the will of the influencer.