Glossary - explanation of terms

  • Testator - the person who makes the will
  • Executor - the person(s) who collect in the assets, pay the bills and distribute the assets to the beneficiaries.
  • Beneficiary - the person(s) who receive a benefit from the estate according to the terms of the will
  • Probate - the approval of the Supreme Court to the will.
  • Intestacy - when a person dies without a will.
  • Household chattels (where someone dies without a will) - there is a lengthy definition in the Wills Probate & Administration Act Section 61A (which is too boring to include) but it specifically excludes motor vehicles, boats, aircraft, racing animals, original painting, trophy, clothing, jewellery or other chattel of a personal nature.
What is an Executor?
I have young children, should I appoint a guardian...
 

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Saturday, 17 August 2019
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