Wills & probate

Wills & probate

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Wills & probate

transfer tax

Legal services; Wills & probate

A tax imposed on the transfer of the property; by will, inheritance, or gift.

assets passing by survivorship

Legal services; Wills & probate

Where assets are held in joint names, they will often pass to the survivor automatically rather than through the will, and are excluded from the value of assets for probate purposes. Properties (real ...

beneficiary

Legal services; Wills & probate

A person who derives advantage from something, for example a trust, will, or life insurance policy.

abatement

Legal services; Wills & probate

A pro rata reduction applied amongst beneficiaries or creditors if there is insufficient money to satisfy specific bequests or debts.

attestation

Legal services; Wills & probate

The process of bearing witness to a signature.

chattels

Legal services; Wills & probate

An item of property other than real estate (ie bricks and mortar property). Examples are clothes, furniture and jewellery.

codicil

Legal services; Wills & probate

A legal document that amends (rather than replaces) a previous will. These may add or replace small provisions (e.g. a change in executor) or may completely change the majority of the will. It must ...