This posts gives a quick description of some of the common legal jargon phrases linked to the death of a person.
Assets – These are things owned by someone which have some value, such as their house.
Beneficiary – A person who benefits from the will, e.g. they receive a gift of money or inherit the deceased estate.
Bequest – A gift in the will of money or personal property
Estate – A person’s estate comprises their property, entitlements and obligations. This will include all their money but also the duty to pay taxes and debts.
Executor – This is the person or persons who are named on the will to carry out the directions of the will
Forfeited to the Crown – When the deceased died intestate or without a validly executed will and their relatives cannot be traced, their estate will be passed on to the crown.
Inheritance – The part of the deceased estate that passes to another is inheritance.
Intestate – A person who dies without a will has died intestate.
Probate – The legal permission an individual is required to get to be able to deal with another person’s estate after they have died. Before an executor can deal with the deceased assets, they must apply for probate.
Will – A legal document which states how the individual wishes their estate to be handled after they die.
Please feel free to comment any legal terms you’ve come across that you don’t understand and I’ll add them to my next Legal Jargon post!
