Beneficiary – person or organisation, to whom you
leave a gift

Bequest – gift to person/organisation

Residuary bequest – remainder of your estate after other gifts given and debts cleared

Pecuniary bequest – fixed sum of money, value decreasing over time

Specific bequest – items such as jewellery or furniture

Contingent bequest – gift dependent upon an event

Codicil – change to your Will

Estate – In the context of Wills, the term Estate refers to the totality of the property which the deceased owned or in which some interest was held

Executor – person(s) appointed by you to ensure that wishes in your Will are carried out

Intestate – Dying without leaving a will, or leaving an invalid will so that the property of the estate passes by the laws of succession rather than by the direction of the deceased

Legacy – gift to a person/organisation

Life interest – lifetime gift, such as giving someone the right to live in a property

Residue – possessions, property and money after debts and gifts

Testator – person who has made a Will