Will legal terms explained

Administrator. If you die without making a Will, or if you don't name an executor, the law will appoint an administrator to handle your estate.

Bequest. A gift in your Will. This could be an object, sum of money, or part of your estate.

Codicil. This is a separate document making a change to your existing Will. This is a really useful way of updating your Will without having to make a new one.

Estate. The value of all your assets at the time of your death.

Executor / Executrix Someone you appoint to carry out the instructions in your Will.

Intestacy. The situation where someone has failed to leave a Will.

Legacy. A gift made through a Will.

Life Interest. Being able to use property, or the interest on a sum of money, for a fixed prior or for life (after which it will pass to someone else).

Pecuniary Legacy. The gift of a fixed sum of money.

Probate. A procedure establishing the Will is legally correct, and who the executors and administrators will be.

Residue. What is left of your estate after all your bequests have been paid, and all the debts, taxes and expenses have been settled.

Residuary Legacy. The gift of all, or a percentage of, the residue of your estate.

Specific Legacy. The gift of a specific item (work of art, car, house, jewellery etc)

Trustee. The person appointed to look after anything left in a trust.