GLOSSARY OF TERMS

Beneficiary
One who is named in a Will to receive property - - one who receives a benefit or gift under a Will.

Bequest
A gift. A Will provision leaving property to a Beneficiary.

Codicil
A legal document which is a supplement to a Will. It changes an existing Will.

Donee
One who receives a gift.

Donor
One who gives a gift.

Estate
All property owned by a person when they die.

Executor
A person appointed in a Will to carry-out the wishes of the Testator and to distribute/administer the property of the deceased. In some jurisdictions this person is called a “Personal Representative”.

Guardian
A person with the legal power and duty to care for another person and/or a person’s property.

Heirs
Persons who inherit from another by operation of law where there is no valid Will.

Intestate
To die without a valid Will.

Legacy
A gift of property in a Will.

Power of Attorney
A legal document authorizing someone else to act for you/on your behalf.

Probate
A Court proceeding in which the validity of a Will is established and, in general, the distribution/administration of the property which passes under the Will.

Residue
All property given by Will or Trust after specific gifts of property have been made - -, ie. the balance/what’s left.

Testator
A person making a Will.

Trust
Legal arrangement under which one person controls property given by another person for the benefit of a third person. The person in control is the Trustee. The person giving property is often called the Settlor/Grantor and the person receiving the benefit is the Beneficiary.

Trustee
A person appointed to administer a Trust.

Will
A legal document in which a person sets-out his/her intentions about what he/she wants done with his/her property after death.

Witness
A person who saw/observed a specific event such as the signing/execution of a Will.