DOCSLIB.ORG

Glossary of Probate Terms

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Glossary of Probate Terms Glossary of Probate Terms The language of Probate is often unfamiliar. To assist with this, RTW Valuations has compiled a glossary to help better understand the various terms and what they mean: A Administrator with the Will Annexed A person appointed to administer an estate Abatement where the will names no executor or where the The process of determining the order in which the named executor is incapable of performing or Estate will abate to pay debts, liabilities and unwilling to perform. There are several reasons expenses why a grant of probate with the will annexed is Ademption applied for: When a person makes a declaration in their Will I. The Will is valid but the deceased did not to leave a gift to another but revokes the gift appoint an executor before death by either destroying it, selling it or II. In situations where there is a sole disposing of it in some other way executor, the sole executor might have predeceased the Testator (note an ex- Administration spouse or ex-civil partner is also Managing the affairs of the Deceased, this considered as having predeceased the involves establishing, collecting and distributing testator on the day the divorce was made the assets of the Estate as laid out in the Will or, absolute or when the civil partnership was where there is no will, according to the intestacy nullified). rules that apply III. The appointed executor may have formally renounced his right to probate. Administration Period IV. The Executor may have been passed over The time taken from the date of death to the by the courts (in instances where perhaps completion of the Estates administration the appointed executor was not fit to take probate). Administrator V. The Executor has not taken out a grant A person responsible for dealing with the Estate even after they have been cited to do so. of a person who has died leaving no will or where VI. A previous grant had been given but the the Executors appointed in a will or Codicil are Executor was not able to complete the unable or unwilling to act administration of the estate (an executors year is only for 12 months) Affidavit A written statement, confirmed by oath, for use as evidence in court Apportionment The proportionate division of income between certain beneficiaries 01892 711 225 rtwvaluer.co.uk [email protected] Page 1 of 8 Asset Chattels Any property, money or belongings owned by the Any movable personal property, assets or Deceased belongings not used for business or business assets i.e. any personal and domestic items Assets passing by survivorship owned by a testator/testatrix e.g. furniture, Where assets are held in joint names they will clothing, jewellery, car etc. pass to the survivor automatically rather than through the Will and are excluded from the value Codicil of assets for Probate purposes An addition or change made to a will. It has to be Attorney signed and witnessed in the same way as a will. A Someone appointed by another to act on his or codicil may be needed, for example, to increase a her behalf cash legacy, change a guardian or executor named in a will, or to add another beneficiary. Attestation Codicils should only be used to perform minor Witnessing a signature changes to the existing will. If more complicated changes are needed it is advisable to make an entirely new will B Beneficiary or Beneficiaries This is a legal document that amends (rather than Anyone or thing that is entitled to a share replaces) a previous will. These may add or (receives a gift) of the Estate of the Deceased replace small provisions (e.g. a change in executor). It must conform to the same legal Bequest (Legacy) requirements as the original will (such as the Any gift left in a will that is not land or buildings signature of the Testator) and have two witnesses who do not benefit from the Will in any way C Conditional / Contingent Legacy Capital Taxes Office A gift with a condition attached for example a gift The Inland Revenue Department that deals with conditional on the beneficiary reaching a certain all aspects of Inheritance Tax age Capital Gains Tax Conveyancing Often referred to as CGT it is a tax on the profit Conveyancing is the legal work that needs to take made when selling an asset place when buying, selling and re-mortgaging property Chargeable Gift Covenant An item given in a will on which tax may have to be paid A legally binding obligation contained in a deed Crown Where an estate goes if there is no next of kin and no will 01892 711 225 rtwvaluer.co.uk [email protected] Page 2 of 8 D E De Facto Estate A common law spouse; not legally married, but The property, money including stocks and shares living together as if married etc and possessions of the Deceased person Death Certificate Estate Accounts Certified copy of the entry in the death register Accounts of the financial transactions recorded during the Administration Period Debts or Liabilities Monies owed or outstanding (e.g. tax, gas and Estate Administration electricity bills, hire purchase arrangements) This refers to the process through which a person’s assets (property, bank accounts, stocks Deceased and shares for example) are distributed according The Person who has died to the Deceased’s wishes Deed of Variation Excepted Estate A Deed of Variation can be used by beneficiaries Where the gross value of the Estate of the person to redirect inheritance entitlements in a will or who has died is less than the Inheritance Tax intestacy for tax purposes within two years of the threshold or where the gross value of the Estate date of death. The most common reason for for Inheritance Tax is less than £1,000,000 AND drafting a Deed of Variation is to reduce the there is no Inheritance Tax to pay because of amount of Inheritance Tax payable from the spouse or charity exemption only Deceased’s Estate Executor / Executrix (f) This legal document allows the Beneficiaries to The person appointed in a will or codicil to change the terms of a will, even after the person’s administer the Estate of someone who has died death Executor’s Oath Devise A written statement sworn by executors or A gift of leasehold or freehold property stated in administrators of an estate, which accompanies the Will an application for a Grant of Representation Discretionary Trust A trust where the Trustee has the full power to F decide when and which certain beneficiaries are Fixed / Floating Charge to receive their capital A charge or mortgage is created over a specific asset or assets as security for borrowings or other Donee debts The person who receives the gift Freehold Donor The owner of a freehold property has complete The person leaving the gift and absolute ownership of the land, and all buildings thereon 01892 711 225 rtwvaluer.co.uk [email protected] Page 3 of 8 G I. Grant of probate A ‘grant of probate’ is issued if executors appointed under a will Gift are administering the Estate Any legacy left in a will II. Grant of letters of administration with Grant of Letters of Administration will annexed. If the Deceased left a valid The document received from the Probate Registry will, but didn't appoint executors or they on submitting the Oath for Administrators. are unable or unwilling to act, then a ‘grant of letters of administration with The legal document issued by the Probate will annexed’ is issued Registry, appointing an administrator to deal with an estate. This is issued when there is a will but III. Grant of letters of administration if the no named executor, where the Executors are Deceased died ‘intestate’ i.e. leaving no unable to apply, where they do not wish to be will, then the Probate Registry will issue a involved in dealing with the Estate, or where the ‘grant of letters of administration’ Deceased has not made a will or any will that the Deceased has made is not valid Gross Value of Estate The total value of the Deceased’s property before Grant of Probate deducting liabilities The document received from the Probate Registry on submitting the Oath for Executors. Guardians The people chosen by the Testator to look after The document obtained by the Executors of a their children in the event of their death valid Will from the Probate Register. This is the legal process of administering the Estate of a I deceased person by resolving all claims and distributing the Deceased person’s property Immovable Property under the valid will Freehold or leasehold property Grant of Representation Indemnity An agreement to compensate someone for any The Court Order authorising a person to deal with loss suffered because of a failure to act by the assets/estate of the Deceased when no will is another in place, it is more precisely called either a Grant of Probate or a Grant of Letters of Inheritance Tax Administration. Often referred to as IHT, it is the tax which is This is a document issued by the Court, which payable on the Deceased’s Estate enables the person or people named in it to Inheritance Tax Threshold deal with all assets of a deceased person (i.e. The amount allowed before tax is payable. their Estate). It allows money to be collected £325,000 at April 2015 from any bank or building society accounts, property to be sold or transferred and for Inquest debts to be paid.
Load more

Recommended publications
  • Csi: Cemetery Search and Investigation
    CSI: CEMETERY SEARCH AND INVESTIGATION Tina Beaird [email protected] History of Cemeteries • The term “cemetery” didn’t enter the lexicon until the start of rural or garden cemeteries. Before then they were graveyard, or burial grounds • The first “garden cemetery” opened in Paris in 1804. Père Lachaise cemetery forever changed the way the dead would be buried • “Undertakers” offered themselves up as an alternative to families ‘undertaking’ the task of preparing their loved one for burial. The need grew during the Civil War where embalming became necessary for transferring bodies back home Types of Cemeteries National Cemeteries • Burials occur in chronological order based on date of death or reinterment (reflected on headstone) • Proof of military service of the deceased or family member is frequently mandatory including: name, rank, branch and state of service • Date of birth (if known) is available for most burials circa WWII Public Cemeteries • Municipal cemeteries are examples of public cemeteries. Most are still active and maintained with collected tax dollars • Records are the responsibility of the Sexton who is appointed by a government administrator like a county official or town mayor. • Records typically include date of interment/death, age, next of kin and cause of death Private cemeteries • Private cemeteries are run by a governing board/trustees Tina Beaird • The cemetery sold lots as property owned by the purchaser. These sales are frequently recorded by the Recorder of Deed’s office • “Perpetual Care” or “Endowed Care” was available for families who wanted to pay upfront for maintenance and upkeep for the purchased lot Church Cemeteries • Records can kept on the parish, regional synod or diocese level • Will include date of burial/or last rights, age and person who paid for the burial • Catholic Cemeteries (in my experience) can be difficult for genealogists.
    [Show full text]
  • Jury Service at an Inquest
    Jury service at an inquest A guide for jurors Each year thousands of people are called upon to serve on juries in courts in England and Wales. As a juror, you have a chance to play a vital part in the justice system. You have been chosen to be a juror at a coroner’s inquest. This leaflet explains: • how you have been chosen • what to do when you receive the jury summons • what the jury does at a coroner’s inquest Please note: This leaflet gives general guidance; details may vary in individual coroners’ courts 2 What Is an inquest? Under the law of England and Wales, an inquest must be held to investigate certain deaths. The inquest is conducted by a coroner in a coroner’s court. Inquests are always open to the public, unless the coroner rules that this would not be in the interests of national security. What does the jury do? The jury hears the evidence and, after being directed by the coroner, must reach conclusions on the following key facts: • who the person was • how, when and where they died • the information needed to register the death. The jury does not have to view the body in order to arrive at these (or any other) facts. Unlike other types of court, an inquest is not a trial. The jury does not have to find someone guilty or not guilty, nor does it have to decide if someone is to blame for the death or if anyone should receive compensation. On the day, the coroner will explain in detail what you are required to do.
    [Show full text]
  • July 2014--A Last Will and Testament: the Freedom Riders' Enduring Legacy
    Share this: Connect with Number 37 July 2014 JSRI on Twitter, Facebook and A Last Will and Testament Tumblr. The Freedom Riders' enduring legacy by Alex Mikulich, Ph.D. At a time when there seems to be deepening conflict over the meaning of freedom, I invite readers to take the opportunity this Independence Day to reflect JSRI Welcomes Alí Bustamante upon the sacrifices made by Freedom Riders in 1964. The Freedom Riders teach The Jesuit Social Research us about the deep yearning of African Americans for the full human flourishing of Institute is excited to welcome Alí everyone. Bustamante as the new economic policy specialist. Mr. Bustamante Take the example of Diane Nash, one of the student leaders trained in is joining JSRI from the Center for nonviolence under the tutelage of the Reverend John Lawson at Fisk University Labor Research and Studies at in 1959­1960. Alongside John L. Lewis, among others, Nash helped lead the Florida International University nonviolent sit­ins in Nashville in early 1960. where he worked on various issues including but not limited to poverty, payday reform, and raising the minimum wage. JSRI Upcoming Events July 18 Dr. Mikulich's essay on the Freedom Riders will appear in the National Catholic Reporter. July 31 JSRI's co­sponsor­­the New Orleans Province of the Jesuits­­ merges with the Missouri Province to become our new co­sponsor: C.T. Vivian and Diane Nash lead a demonstration march to City Hall in Nashville, TN. Credit: the U.S. Central and Southern The Nashville Tennessean Province. Loyola University continues to co­sponsor JSRI with On May 14, 1964, KKK members firebombed a Freedom Rider bus in Anniston, the Province.
    [Show full text]
  • Estate Checklist for Trustees and Survivors
    LAW OFFICES OF MICHAEL E. GRAHAM 10343 HIGH STREET, SUITE ONE TRUCKEE, CALIFORNIA 96161-0116 TELEPHONE 530.587.1177 P FACSIMILE 530.587.0707 MICHAEL E. GRAHAM † [email protected] ESTATE CHECKLIST FOR TRUSTEES AND SURVIVORS 1. IMMEDIATE ASSISTANCE Family and friends may assist immediately after the death with the following: C Take turns answering the door or telephone and keep careful records of all calls. C Provide meals for the first several days. C Arrange for child care if necessary. C Make a list of immediate family, close friends, and employer or business colleagues and notify each by telephone. C Arrange for accommodations for visiting relatives and friends. C Take care of special household needs such as cleaning, lawn care, and maintenance. C Prepare a list of persons to receive acknowledgments of flowers, calls, etc., and send acknowledgments. C Prepare a list of distant persons to be notified by letter and prepare printed notices to be sent to each. 2. INITIAL CONSIDERATIONS A. CORONER’S INQUEST OR AUTOPSY Coroner's Inquest Government Code §27491 requires the coroner to inquire into and determine the cause of all violent or sudden deaths, unattended deaths, deaths resulting from criminal acts, deaths of patients in state hospitals operated by the Department of State Hospitals or the Department of Developmental Services, and deaths due to accident, injury, or other unusual causes. When a death is the result of a circumstance specified in the statute, the body cannot be disturbed or moved from its position or place of death without permission of the coroner or the coroner's appointed deputy.
    [Show full text]
  • Testamentary Trusts
    TESTAMENTARY TRUSTS Trusts that are created pursuant to the terms of a probated Last Will and Testament are commonly referred to as “testamentary trusts.” 1. Applicable Law. The applicable law for these Trusts is the Kansas Probate Code (not the Kansas Trust Code). The authority of the probate court as to testamentary trusts is set forth at K.S.A. 59-103(7), as follows: to supervise the administration of trusts and powers created by wills admitted to probate, and trusts and powers created by written instruments other than by wills in favor of persons subject to conservatorship; to appoint and remove trustees for such trusts, to make all necessary orders relating to such trust estates, to direct and control the official acts of such trustees, and to settle their accounts. K.S.A. 59-103(a) Docket Fee for Trusteeship $69.50 [Rev. Ch. 80, Sec. 17, 2017 Sess. Laws] 2. Obtaining Appointment of Testamentary Trustee. Based upon the statutory grant of Court authority under K.S.A. 59-103(7), it appears necessary for a nominated testamentary trustee to be formally appointed by the Court. As a practical matter, the judicial grant of Letters of Trusteeship may be necessary to obtain delivery of the trust’s share of probate assets, to deal with banks and financial institutions (such as to open accounts), or to later sell assets. It is also appropriate to establish the formal commencement of the new fiduciary relationship and the Trustee’s formal acceptance of the obligation as fiduciary for the newly established testamentary trust.
    [Show full text]
  • A Simple, Effective Will
    Pace Law School Continuing Legal Education Bridge the Gap: December 6-7, 2014 A SIMPLE, EFFECTIVE WILL Daniel Timins. Esq. [email protected] 450 7th Avenue, Suite 1500 New York, New York 10123 (212) 683-3560 Telephone Number www.timinslaw.com Daniel A. Timins, Esq. Law Offices of Daniel Timins FOREWORD It is sometimes mind-numbing to see the absurd depth that attorneys will sink to when drafting legal documents: Details, definition sections, contingency upon contingency upon contingency. Yet, in the end, the artful litigator will still find a sufficient number of loopholes and arguments in any document, no matter how solid the drafter intended it to be. The statement “simple is better” when it comes to legal documents may be true, and perhaps equally so when it comes to the central estate planning document: A Last Will and Testament. There are many two page “Sweetheart Wills” drafted by laymen which are admitted to Probate with little problem. On the reverse side, there are a near-unlimited number of Court proceedings based on multiple page Wills drafted by the most skilled attorneys that languish in the Surrogate’s Court for years. And, of course, the inverse is equally true for both parties. The “Plain English” trend in legal writing should be observed with modern Wills even more so than other legal documents: The Will should be drafted in a way that allows the client to understand what legal concepts are being conveyed. To do otherwise may have the negative effects of not fulfilling the Testator’s desires, and may open the Will up to the protracted legal intervention that the drafter was hoping so hard to avoid.
    [Show full text]
  • Lizzie Borden Last Will and Testament
    Lizzie Borden Last Will And Testament Is Erhard always unenthusiastic and sparser when dither some aperitif very universally and recollectedly? Burred gossipyGriffith mousse, Terrence his overslaughs knawels bait and euphonising defers. delusively. Loren is octosyllabic and militarising impossibly while But she love and shouted for Bridget and asked her then come hear, all and the trepidation and state, to find Mr. Art that celebrated living telling the moment offers a testament was itself Hans Morgenstern Blank City as one last screening at showcase Cinema Paradiso in Fort. Borden having married Mr. Is holding anything pull her cigarette the neighbors come to show where she committed the crime? And what more can you tell us about Benjamin? We do not know what you have heard on this case in the inquest or of the purport of the testimony there. Borden, which gave over any kitchen. Fleet was recalled and asked about the broken handled hatchet, where he found it and what else he found. They all ended in smoke. Durfee was mentally ill with the fact you, but i am i ever seen her! She and six of her children were scalped and killed in the massacre. Borden Sought to Escape Death. The borden home at a recess for? Borden Building, and the Borden Mills Block. He will vindicate, lizzie borden case against her last testament and then going to lizzies bedroom during her parents kept. JOURNAL is constant news to numerous people interested in what local out of Falls City, New England and multiple murder case. Confirmed Transcribed Copy Of factory Original Of Lizzie Borden S Last Will my Testament With Images Last situation And Testament Borden Fall River.
    [Show full text]
  • Case Mail V. 18 No. 13
    Case Mail v. 18 no. 13 The Law Society of Saskatchewan Library's online newsletter highlighting recent case digests from all levels of Saskatchewan Court. Published on the 1st and 15th of every month. Volume 18, No. 13 July 1, 2016 Subject Index Arbitration – Appeal – R. v. Peyachew, 2016 SKCA 21 Leave to Appeal Ottenbreit Caldwell Ryan-Froslie, February 16, 2016 (CA16021) Civil Procedure – Affidavits – Cross Examination Criminal Law – Robbery with Violence – Sentencing Civil Procedure – Appeal Criminal Law – Unlawful Confinement – Sentencing Civil Procedure – Costs The appellant pled guilty to unlawful confinement, contrary to s. 279(2) Civil Procedure – Limitation of the Criminal Code, and robbery with violence, contrary to s. 344(1)(b) Period – Discoverability of the Code. He appealed his sentence of five years imprisonment less Principle 151 days credit for time served in remand on the grounds that the Criminal Law – Approved sentence was excessive. The sentencing judge had erred: 1) in Screening Device – determining the gravity of the offences; 2) in failing to give adequate Forthwith consideration to the appellant’s Aboriginal heritage; and 3) in failing to Criminal Law – Child take into account the appellant’s mental health. The appellant had Pornography – Accessing grabbed the assistant manager by the throat and forced her, nine other Criminal Law – Judicial bank employees and a customer into an office. The appellant revealed Interim Release Pending to the hostages that the only weapon that he had was his fists. He Appeal forced an employee to give him $1,700 from a till. As the appellant left Criminal Law – Long-term the bank, he saw RCMP officers waiting outside.
    [Show full text]
  • LAST WILL and TESTAMENT Of
    LAST WILL AND TESTAMENT of ____________________________________ (Full Legal Names) ____________________________________ (Identification / Social Security Number/s) ____________________________________ ____________________________________ (Address) 1. Declaration I hereby declare that this is my last will and testament and that I hereby revoke, cancel and annul all wills and codicils previously made by me either jointly or severally. I declare that I am of legal age to make this will and of sound mind and that this last will and testament expresses my wishes without undue influence or duress. 2. Appointment of Executors 2.1. I hereby nominate, constitute and appoint _________________________ as Executor or if this Executor is unable or unwilling to serve then I appoint _______________________ as alternate Executor. 2.2. I hereby give and grant the Executor all powers and authority as are required or allowed in law, and especially that of assumption. 2.3. I hereby direct that my Executors shall not be required to furnish security and shall serve without any bond. 2.4. Pending the distribution of my estate my Executors shall have authority to carry on any business, venture or partnership in which I may have any interest at the time of my death. 2.5. My Executors shall have full and absolute power in his/her discretion to insure, repair, improve or to sell all or any assets of my estate, whether by public auction or private sale and shall be entitled to let any property in my estate on such terms and conditions as will be in the best interest of my beneficiaries. 2.6. My Executors shall have authority to borrow money for any purpose connected with the liquidation and administration of my estate and to that end may encumber any of the assets of my estate.
    [Show full text]
  • Last-Will-And-Testament-Template.Pdf
    Last Will and Testament of ___________________________________ I, ________________________, resident in the City of ____________________, County of ____________________, State of ____________________, being of sound mind, not acting under duress or undue influence, and fully understanding the nature and extent of all my property and of this disposition thereof, do hereby make, publish, and declare this document to be my Last Will and Testament, and hereby revoke any and all other wills and codicils heretofore made by me. I. EXPENSES & TAXES I direct that all my debts, and expenses of my last illness, funeral, and burial, be paid as soon after my death as may be reasonably convenient, and I hereby authorize my Personal Representative, hereinafter appointed, to settle and discharge, in his or her absolute discretion, any claims made against my estate. I further direct that my Personal Representative shall pay out of my estate any and all estate and inheritance taxes payable by reason of my death in respect of all items included in the computation of such taxes, whether passing under this Will or otherwise. Said taxes shall be paid by my Personal Representative as if such taxes were my debts without recovery of any part of such tax payments from anyone who receives any item included in such computation. II. PERSONAL REPRESENTATIVE I nominate and appoint ________________________, of ___________________________, County of ________________________, State of ______________________________ as Personal Representative of my estate and I request that (he/she) be appointed temporary Personal Representative if (he/she) applies. If my Personal Representative fails or ceases to so serve, then I nominate _____________________________of __________________________, County of ____________________________, State of ______________________ to serve.
    [Show full text]
  • Islamic Will and Last Testament
    In the name of Allah, Most Gracious, Most Merciful LAST WILL AND TESTAMENT OF I, ____________________________________, residing at _____________________________, City _________________________, County _________________________, in the State of _________________________, being of sound mind and memory do hereby revoke any and all former Wills, Testament and Codicils and declare this to be my Last Will and Testament. I bear witness that there is no deity worthy of worship except Allah, and Prophet Muhammad, may peace and blessing be upon him, is His Servant and last Messenger. I ask my relatives and friends, whether they believe as I believe or not, to honor my right to these beliefs. I ask them to honor this document and not to obstruct it or change it in any way. Rather, let them see that I am buried as I ask and let my properties be divided as I express in this document. Article I. FUNERAL AND BURIAL RITES I ask that no autopsy be done to my body unless required by law. I ask that under no circumstances my body be turned over for an autopsy, or embalming or for organ donation. I ask that my body be washed, wrapped in cloth free of any ornaments or articles, prayed for and buried in accordance with Islamic traditions. I ask that all attempts be made to bury me in a Muslim’s cemetery. I ask that my burial take place as soon as possible, preferably before sunset on the day of my death or the following day, without any undue delay. I hereby nominate and appoint ________________________________, to execute these and other necessary provisions for my proper Islamic funeral and burial.
    [Show full text]
  • The Last Will and Testament of Jesus Christ
    Mark E. Larson The Last Will and Testament of Jesus Christ Introduction: Do You Have a Will Written in the Event of Your Death? A. How many of you have a will? 1. Too often, people wait until they are much older to have one written on their behalf (James 4:14). B. Most understand the concept of a will. It is a common practice in our society. 1. Thought we may not understand every legal detail like a lawyer does, most people understand what a will is and generally how it works. C. The practice of people leaving a will and testament is not a modern development, but an ancient practice. I. The Definition of a Will (Heb. 9:15-17). “Testament” “The last disposition A. (covenant / diatheke / dee-ath-ay'-kay): ” which one makes of his earthly possessions after his death, a testament or will. ’s Greek Lexicon). (Thayer – 1. The testament or will specifies who will receive the legacy of a person the amount of money or property left behind by the person. “t ” B. For every will (testament) there must be a estator who made the will (Heb. 9:16). “legacy” C. A will (or testament) cannot be written unless the person has a (i.e., money or property to pass on to others) (e.g., Ps. 105:7-11). II. Jesus Has a Wonderful Legacy to Pass On to Others! A. The Legacy of Forgiveness of Sins. – 1. Jesus had a grand legacy! He has eternal blessings to pass on to us! 2. After the cross and resurrection, Jesus declares before His ascension that His people would be given the forgiveness of sins (Luke 24:46-47; Acts 2:38; 3:19).
    [Show full text]