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Absolute Interest
The entitlement to the item of property which is not limited by any other person’s... -
Administrator
A person appointed by the Court to manage the estate of a deceased... -
Ambulatory Will
A will which can still be changed because the settlor is... -
Assent
A formal document which is required when transferring ownership to a person who is entitled to the property following the death of the... -
Beneficiary
A beneficiary is someone who stands to gain as a result of a bequest made in a will or who receives something from an... -
Bequest
A gift of Chattels or Assets by... -
Codicil
A codicil is an addition or amendment to an existing... -
Common Law Partner
A partner who you live with but to whom you are not... -
Contingent Will
A will which will only become effective if some condition is... -
Declaration of Trust
See... -
Discretionary Trust
This is a trust where the beneficiaries and/or their entitlements to the trust fund are not fixed, but are instead determined by the criteria set out in the trust instrument by the... -
Estate
The assets of a person at the time of their death, less any outstanding... -
Executor
An executor (or executrix in the case of a female) is the person (or people) who have been appointed in a will to deal with the testator's affairs after their... -
Grant of Probate
This is a legal document which allows the person or persons named in it to collect in and distribute the... -
Grant of Representation
A legal document which confirms that the executor has the authority to deal with a deceased person's... -
Guardian
A person appointed to safeguard,protect and manage the interests of a child or mentally disabled... -
Inheritance Tax (IHT)
This is a tax imposed on the privilege of receiving property by inheritance or legal... -
Intestacy
This refers to the situation where a person who has died has not made a valid... -
Legacy
See... -
Letter of Administration
This is the authority given by the Probate Registry to deal with the affairs of a deceased person who has not left a valid...
