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Administrator |
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Person legally appointed to settle affairs where there is no Will. |
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Chattels |
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Personal possessions such as car furniture, jewellery. |
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Codicil |
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Document making valid alteration/addition to a Will. |
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Estate |
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The total of your possessions (money. Property, chattels etc) when you die. |
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Executor |
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Person appointed by you in your Will to carry out your wishes. |
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Intestacy |
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Where a person dies without leaving a valid Will. |
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Issue |
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Children, grandchildren, great grandchildren etc |
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Legacy |
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A specified gift left in a Will. |
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Partial Intestacy |
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Where a Will does not cover the whole estate. |
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Probate |
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Proper legal procedure to ensure that a Will is valid. |
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Residue |
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What is left after all specific gifts in the Will have been met and taxes and debts paid. |
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Testator/Testatrix |
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Name given to man/woman who has made a Will after he/she has died. |
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Trust |
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When assets are left with Trustees who administer them for the good of beneficiaries. |