Demystifying Probate: Your Guide to Understanding Probate Jargon
Navigating the probate process can be overwhelming, especially with all the legal jargon. But don't worry, we're here to help you make sense of it all. Here’s a straightforward guide to some common terms you might encounter:
Executor/Executrix
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Definition: The person named in a Will to handle the deceased's estate.
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Note: "Executor" is now commonly used for both males and females, though older Wills may use "Executrix" for females.
Administrator/Administratrix
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Definition: The person entitled to apply for a Grant when there is no Will.
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Note: The right to be an Administrator is governed by intestacy laws, usually the main beneficiary of the estate.
Personal Representative (PR)
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Definition: A term for both Executors and Administrators, often used on forms to close accounts and handle estate affairs.
Grant of Probate
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Definition: A document from the Probate Registry that allows the Executor(s) to manage the deceased's estate.
Grant of Letters of Administration
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Definition: Equivalent to a Grant of Probate but used when there is no Will.
Grant of Representation
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Definition: A term that covers both Grants of Probate and Letters of Administration.
Estate
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Definition: Everything the deceased owned at the time of death.
Probate
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Definition: The legal process that validates a Will and formally appoints a Personal Representative to manage and distribute the deceased's estate.
Intestate
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Definition: A person who has died without a Will.
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Note: Their estate distribution is determined by law. See our 'Who Inherits' Guide here.
Legacy/Bequest
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Definition: A gift left in a Will, which can be either cash or a specific item.
Beneficiary
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Definition: A person entitled to inherit under a Will or through intestacy.
Inheritance Tax
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Definition: A tax on assets exceeding a certain threshold (£325,000 as of the current threshold).
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Associated Terms:
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Nil-Rate Band: The amount up to which the estate has no inheritance tax.
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Residence Nil-Rate Band: An additional allowance for property passed to direct descendants.
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Transferrable Nil-Rate Band: Allows any unused nil-rate band to be transferred to a surviving spouse or civil partner.
If you need help or advice regarding the probate process, our experienced team is here to assist you. Call Us on 0116 2121000.
We're here to make the Probate process as smooth and stress-free as possible.
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