Wills Glossary

15 August 2016

Estates, Wills & Trust | Private Law

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– Summary

This page contains explanations for commons words and terms uses on this website when discussing Wills and Estates.

Below is a list of common words and terms you may come across concerning Wills.

Click here for our GLOSSARY OF LEGAL TERMS that relate to Law in general.

Click here for our list of LATIN terms that are commonly used in Law.

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Abatement	The process of determining the order in which the estate will abate to pay debts, liabilities and expenses.
Ademption	When a person makes a declaration in their Will to leave a gift to another but revokes the gift before death either by destroying it, selling it or disposing of it in some other way.
Administration	Managing the affairs of the deceased. This involves establishing, collecting and distributing the assets of the estate as laid out in the Will or, where there is no Will, according to the intestacy rules that apply.
Administration period	The time taken from the date of death to the completion of the estate’s administration.
Administrator	The person who deals with distributing the estate in cases when there is no Will.
Apportionment	The proportionate division of income between certain beneficiaries.
Attorney	Someone appointed by another to act on their behalf.
Attestation	Witnessing a signature.
Asset	Property, money or belongings owned by the deceased.

Beneficiary	Anyone or thing that is entitled to a share of the estate of the deceased.
Bequest	Any gift left in a Will that is not land or buildings

Codicil

An addition or change made to a Will. It has to be signed and witnessed in the same way as a Will. A codicil may be needed, for example, to increase a cash bequest, change a guardian or executor named in a Will, or to add another beneficiary. Codicils should only be used to perform minor changes to the existing Will. If more complicated changes are needed it is advisable to make an entirely new Will.

Conveyancing

Conveyancing is the legal work that needs to take place when buying, selling and re-financing property.

Deceased	The person who has died.
Discretionary Trust	A trust where the trustee has the full power to decide when and which certain beneficiaries are to receive their capital.
Donee	The person who receives the gift.
Donor	The person leaving the gift.

Estate	The property, money and possessions of the deceased person.
Executor	The person appointed in a Will or codicil to administer an estate.

Fideicommissum

A legal institution, where the owner of a property transfers this property to another person, subject to it being transferred from that person to yet another person at a later stage.

Gift	Any bequest left in a Will.
Guardians	The people chosen by the testator to look after their children in the event of their death.

Immovable Property	Freehold or leasehold property.
Indemnity	An agreement to compensate someone for any loss suffered as a result of a failure to act by another.
Insolvency	When there is a shortfall of funds to meet all liabilities.
Interest	The right to property.
Intestate	When a person dies with no legally valid Will.
Intestate Succession	The name for the situation which arises when someone dies without having made a legally valid Will. Their estate is then distributed according to the laws governing intestate succession.
Issue	All the direct descendants of a person.

Last Will and Testament	A legal document that lays out the way a person wishes to have their estate distributed upon death. It can also contain their wishes for their burial/cremation.
Letters of Executorship	The legal document issued by the Master of the High Court, appointing an executor to deal with an estate.
Liability	The debts that need to be settled by the estate following the death of the deceased.
Liquidation and Distribution Account	Accounts of the financial transactions recorded during the Administration Period.
Living Will	A Living Will usually covers specific directives as to the course of treatment that is to be taken by caregivers.

Matrimonial Home	The place where a husband and wife live.
Minor	A person under the age of 18.
Moveable Property	Any property that is not immovable e.g. personal chattels.

Next of Kin	The nearest blood relative of the deceased.
Notary Public	A legal officer appointed to deal with legal documents, principally for the conclusion of an ante-nuptial contract (in South Africa) but also for international purposes.

Oath	A pledge to tell the truth, verbally or in writing.

Post Mortem	A medical examination of the body to determine the cause of death.
Power of Attorney	Authorisation to act on someone else’s behalf, usually in the form of a signed document.
Predeceased	Someone who dies before the person who has made the Will.
Pro Rata	Proportionately.

Realisation	Converting estate assets into cash.
Registrar	The person who registers the death. Every death must be registered by the Department of Home Affairs.
Residuary Beneficiary	Any person entitled to receive the whole or a share of any residue of the estate, under the terms of the Will or on intestacy.
Residuary Estate	What is left of the estate after all liabilities and expenses have been paid.
Residue	What’s left after the money legacies, specific gifts, funeral expenses and all other expenses.
Revocation	When the testator decides to change their Will completely and invalidates the previous one.

Satisfaction	Settling a debt or obligation.
Settlor	A person who has set up a trust.
Specific Bequest	Specific gifts left to specific people.

Testament	Another name for a Will.
Testate	Dying leaving a Will.
Testator	The person who sets out his wishes and requests as to how their estate should be divided in the form of a Will.
Testatrix	A female testator.
Trust	An arrangement set up by Will or deed with Trustees being appointed and given money or assets to hold and manage for the defined beneficiaries.
Trustee	Someone who is given the legal responsibility to holds any assets until nominated beneficiaries meet certain criteria set out in the deceased’s Will e.g. until a beneficiary reaches the age of 18. Trustees normally have powers to distribute monies and have full power to sell and invest.

Usufruct

The right to use and enjoy the profits and advantages of something belonging to someone else, as long as the property is not altered in any way. In the case of a Last Will and Testament, an asset that is bequeathed to one person but the use is given to someone else, usually for the remained of that person’s life (i.e. a husband might leave a house to his children but the use of the house to his wife until she dies).

Will	A form of instructions indicating how someone wishes to dispose of their assets on death.
Witnesses	The persons who must be present to see the testator sign the Will. They must also sign the Will themselves and should not be beneficiaries of the Will.

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DISCLAIMER: THERE ARE MORE CONSIDERATIONS THAN WE CAN COVER IN THIS ARTICLE SO ONLY USE THIS INFORMATION AS A GUIDE. THIS INFORMATION DOES NOT CONSTITUTE LEGAL ADVICE. IT IS ALWAYS BEST TO DISCUSS YOUR SITUATION WITH AN ATTORNEY; CONTACT US AT 0861 88 88 35; helpdesk@gcm-legal.com AND THROUGH THE CONTACT FORM ON THIS PAGE.

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17 Jul 2016 | Family Law, Private Law

An ante-nuptial contract (or ANC) is one of the most important documents you will even sign. This article explains why you must have an ANC.

Next Entries »

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Administration period

Administrator

Apportionment

Attorney

Attestation

Asset

Bequest

Deceased

Discretionary Trust

Donee

Donor

Gift

Guardians

Immovable Property

Indemnity

Insolvency

Interest

Intestate

Issue

Letters of Executorship

Liability

Liquidation and Distribution Account

Living Will

Matrimonial Home

Minor

Moveable Property

Notary Public

Oath

Post Mortem

Power of Attorney

Predeceased

Pro Rata

Realisation

Registrar

Residuary Beneficiary

Residuary Estate

Residue

Revocation

Satisfaction

Settlor

Specific Bequest

Testate

Testator

Testatrix

Trustee

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