Wills & probate

Wills & probate

Industry: Legal services

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Wills & probate

asset and liability holders

Legal services; Wills & probate

Companies or organisations that hold the deceased's assets and liabilities. For example, an asset holder could be a building society and a liability holder could be a credit card company.

creditor

Legal services; Wills & probate

A person or company that is owed money by the deceased.

disbursement

Legal services; Wills & probate

A payment made to a third party.

estate accounts

Legal services; Wills & probate

Accounts recording the full details of the estate and the financial transactions during the administration period.

personal representative

Legal services; Wills & probate

An executor or administrator of an estate.

power of attorney

Legal services; Wills & probate

A formal deed by which one person appoints another to act on their behalf or represent them.

tenants in common

Legal services; Wills & probate

One of the ways for two or more individuals to own property. Each owner owns a specified share which passes on death to the beneficiaries named in the deceased's will, or in accordance with the ...