A written doc. that expresses the wishes of person making the will as far as the disposition of property upon death.
The Real property amd Personal property owned by a person as of the date of his/her death.
An idividual's written statement of how his/her Personal Property was to be distributed after death. Term "Will" is now commonly used to refer to disposition of both real and personal property. Formal instrument begins, "THIS IS THE LAST WILL AND TESTIMENT OF..."
The state of having a will
The state of not having a will.
A male person who has a will.
A female person who has a will.
A handwritten will that is NOT witnessed & are not generally valid.
Former term to refer to a male person appointed by the testator in a will, to carry out the wishes of the testator; now called an Estate Trustee or Personal Representative (PR).
A person designated in a will to administer the estate of a testator according to the terms of the testator's will, or a person appointed by the courts to administer the estate of a deceased who died intestate or without having appointed someone to administer the estate.
Person designated to receive all or part of the estate under a will.
Power of Attorney
À legal document by which one person empowers another to represent her/him or to act in her/his place.
Party who gives the power of attoney
Party who gets the power
Next of Kin
The closest blood relatives of a deceased person.
Person or company that promises to satisfy the obligation of another in the event of the other's default.
Affidavit of condition of will
Sworn statement of a witness to a will verifying the condition of the will at the time of execution; it is made & presented when administering the will.
Final settlement of accounts & affairs of an estate
Passing of Accounts
The procedure of having estate accounts proved or "passed" by the court
Person appointed by the court to deal with the affairs of a person who died without a will. Ex the person died intestate.
Occurs when the testator gives away something in a will to a beneficiary; but at the time of death, the item no longer is owned by the testator.
the representative designated by the maker of the Personal Directive (PD)
To make a gift through a will. Ex. To my son Michael, I bequeath half my estate.
As always, a surety or guarantee. When dealing with wills and estates in Alberta, the court may require a bond to be paid into court if the will is being probated in Alberta when the executors are located outside of Alberta.
Legal doc. that amends the terms of a will.
Old-fashioned verb meaning "to gift through a will."
A synonym for "beneficiary."
Person who is granting power over his/her financial affairs to a representative through a POA.
Person designated by a testator as the person who is to look after the testator's minor children.
Another term for "beneficiary."
A POA that takes effect the moment it is signed.
Person who is granting power over his/her non-financial affairs to a representative through a Personal Directive.
Modern term for executor. Often used when the executor & trustee are the same person.
An uneforceable clause in a will - it contains wishes or desires, usually about funeral & burial arrangements.
A court procedure that proves the validity of a will.
Turning down a job. (Ex. executor) designated by a will, POA, or PD.
Probating a will in 1 jurisdiction after it has been probated in another.
What is left over after the estate's debts have been paid & the specific bequests have been disbursed.
The taking back of a gift, usually when a condition is not met.
In Wills & Estates context, the cancellation of a previous will, POA, or PD.
A POA that takes effect upon the fulfillment of certain conditions listed in the POA.
Act of passing property and/or affairs down the family line.
A trust that is established by a will.
Mental capacity neccessary to make a will & to understand its effects.
Legal adult who supervises & manages the trust until the beneficiary can receive the trust funds.
Funds held in trust for the benefit of a person, usually to be disbursed @ a later date. Often set up on the death of a testator who has designated minor children as beneficiaries. The children will receive the trust funds @ an age designated by the testator.
Details the procedures for probating a will. If deceased had no will, & therefore died intestate, the surrogate rules detailed what happens to the estate.
Legal document which gives authority to act for another person in legal or financial matters.
Personal Directive (PD)
Living will, specifies what actions should be taken for their health in the event that they are no longer able to make decisions due to illness.