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Definitions (67)
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witnesses
Two adults who are present, together with the will drafter, when they date and sign the will. The witnesses, or any spouse of a witness, cannot receive any benefit from the will.
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will drafter/will preparer
The person instructed to prepare the will on behalf of the testator.
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will
A legal declaration in which a person names one or more others to manage their estate and oversee the distribution of their property as instructed upon their death.
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trust
A trust is the formal transfer of assets (it might be property, shares or just cash) to a small group of people (usually two or three) or to a trust company with instructions that they hold the assets [..]
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step
The Society of Trust and Estate Practitioners – membership body for professionals advising on family inheritance and succession.
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testamentary capacity
The term used to describe a person's legal and mental ability to make or alter a valid will.
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probate
The court process by which a will is determined to be valid and granted legal effect, or invalid with assets distributed by a personal representative.
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probate
Official confirmation by the Court of the validity of a will and the executors named in it.
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remunerated executor
Where the executor is paid for their services beyond normal ‘out of pocket’ expenditure.
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