Beneficiary - A person or organisation who benefits from the Will
Bequest or Legacy - A gift of a specific item or sum of money
Chattels - Personal possessions such as contents of a house
Codicil - A change or addition to an existing Will. It must also comply with the rules governing the making of Wills
Estate - Everything you own at the time of your death
Executor and Trustee - The person appointed in the Will to ensure that your wishes stated in the Will are out. We will be happy to be appointed as Executors, at no extra cost to you when the Will is made
Grant of Probate - An order of the Court stating that a Will is legally valid. It confirms the authority of the Executors.
Inheritance Tax - The tax payable in some circumstances on the value of your property at your death and on some lifetime gifts
Residue - The remainder of your property after payment of debts, funeral and other expenses, fees, tax and any specific legacies
Testator or Testatrix - The person making the Will
Trust - When assets are held by trustees on behalf of beneficiaries' usually children or grandchildren