Jargon busting – wills

You have decided to make your will. You’ve met with your legal advisor, discussed your needs and received advice. You then receive your will to review, but find it contains words you may not fully understand. Let’s look at some of those terms and remove any doubt or confusion about their meaning.

Why is jargon used in wills?

Legal terms are used in formal documents to ensure clarity. A will is a formal document. The terms used form a kind of shorthand to save lengthy explanations or repetition throughout the document. They are also used to avoid ambiguity to those who need to interpret the document.

Terms relating to people

Let’s look, first of all, at the people mentioned in a will.

The testator

The testator is the person who makes the will. If you are making the will, you are the testator.

The executor

The executor is the person (or organisation) you appoint to deal with the administration of your estate. They are responsible for identifying the assets and debts of the estate. The executor must apply for Probate (the formal authority allowing them to deal with the estate). They need to deal with any Inheritance Tax issues. Finally, they must distribute the estate following the directions expressed in the will.

You can have more than one executor and they can either act jointly or as substitutes should one or more of their number die before you do.

Beneficiaries

These are the people (or organisations) who you have decided will inherit a share of your estate after your death.

Trustee

Sometimes a trust is set up within a will. The person who manages the trust is called a trustee. There may be one or more trustees.

Issue

When this term is used in a will, it refers to the children, grandchildren and great grandchildren and other descendants named or referred to in a will or who have an entitlement to inherit.

Guardians

If you have children who have not reached majority, you can appoint a guardian to look after their affairs.

Terms relating to money and property

Within the will, there will be terms relating to the property and money belonging to the testator.

Estate

This is a list of all the assets you own less the debts or other liabilities due. Sometimes this is called the net estate.

Assets

These are the items of value the testator owns. They are made up of property, cash and investments.

Chattels

This is another term relating to property. In this case it means an item of personal property that can be moved around. Examples of this might be personal belongings or effects, furniture or a car.

Bequest

This is a gift made in a will. The types of gifts contained in bequests tend to be gifts of personal property. Examples of this might be an item of jewellery, a car, a piece of antique furniture or a work of art.

Legacy

Just like a bequest, a legacy is also a gift but tends to be more wide-ranging. It covers all types of property as well as personal items and cash.

Residue

The residue in a will is everything that is left in the estate after debts, bequests and legacies have been dealt with.

Life Interest

This is a term used when the testator decides to allow someone to use an asset during their life but where they do not receive ownership. This is commonly used in relation to a property.

To discuss this or any other related matter with Kelly directly, please call us, start a live chat or email us at info@hartbrown.co.uk.

*This is not legal advice; it is intended to provide information of general interest about current legal issues.

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Kelly Smith

Chartered Legal Executive, Trusts & Estates

Kelly joined Hart Brown’s Trust & Estates Team in January 2024 and works as a Chartered Legal Executive at our Guildford and Woking offices. Kelly...

Chartered Legal Executive, Trusts & Estates

Kelly Smith

Kelly joined Hart Brown’s Trust & Estates Team in January 2024 and works as a Chartered Legal Executive at our Guildford and Woking offices.

Kelly has worked in law for 25 years and has over 10 years’ experience in Private Client. Kelly’s expertise includes Wills, Lasting Powers of Attorney and all aspects of estate administration.

Kelly is personable and takes a pragmatic, friendly approach when assisting her clients. She is committed and likes to communicate regularly with her clients so as to keep them updated and build confidence in their relationship.

Outside of work Kelly enjoys time with her family and friends.

What do Kelly's clients say?

"Kelly is a very professional, kind and approachable person. She listen closely to what we wanted in our wills, advised us on ways we could achieve our goal. Kelly was able to answer all of our questions. The wills were drawn up and completed with no fuss and very timely. We would recommend her to anyone, she is a true star!"

"We found Kelly very helpful and thorough when preparing our wills and LPAs. Being willing to visit us at our home was a definite plus. The guidance we received and the promptness with which matters were dealt made for an overall very satisfactory experience."

"We found Kelly to be helpful, knowledgeable and thorough when preparing our Wills and Lasting Powers of Attorney. We will go to Hart Brown again if we need help with any legal matters."