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There are several terms that are commonly used in relation to estate matters and Wills. It is important to understand what these words mean if you are dealing with the death of a family member or friend.
Administrator - A person appointed by the court to handle the estate if the testator does not name an executor in their Will, or no Will exists.
Beneficiary - A person named in a Will to receive some of the estate.
Bequest - A gift, usually of personal property, under a Will.
Codicil - A document that adds to or changes a Will.
Devise - A gift or transfer of real property under a Will.
Estate - After a person's death, their assets and liabilities make up their estate. A person's estate can include personal possessions, real property and debts.
Executor - A person named in a Will to carry out the terms of the Will.
Executrix - Sometimes used to describe a female executor.
Intestate - A person who dies without a Will.
Letters Probate – Court documents authorizing an executor to deal with an estate.
Letters of Administration – Court documents appointing an administrator to deal with an estate.
Personal Property - Refers to goods and money. This includes things like furniture, vehicles, jewellery, animals, clothing, stocks, shares, patents and copyrights.
Probate - The court process of proving that a Will is valid and administering the estate under the supervision of the court.
Real Property - Refers to immovable property such as land and real estate.
Testator - The person who makes a Will.
Testatrix - Sometimes used to describe a female testator.
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