Reference

Glossary

Clear definitions of legal terms and concepts related to wills and estate planning.

A

Abatement

Abatement is the proportional reduction of gifts in a will when the estate cannot pay all legacies in full after settling debts and administration expenses.

Accumulation and Maintenance Trust

An Accumulation and Maintenance Trust (A&M Trust) is a historical trust allowing income to be saved or spent on a child's needs until age 18 or 25, with tax advantages that ended in 2006.

Additional Voluntary Contributions (AVC)

Additional Voluntary Contributions (AVCs) are extra pension payments beyond your standard contributions to boost retirement income, taken from salary before tax.

Ademption

Ademption is the automatic failure of a specific gift in a will when the testator no longer owns that particular item at death, leaving the intended beneficiary with nothing.

Administrator

An administrator is a person appointed by the Probate Registry to manage and distribute the estate of someone who died without a valid will or when no executor can act.

Adoption

Adoption is the legal process that makes a child the permanent legal child of their adoptive parents, with the same inheritance rights as a biological child.

Adult Dependant's Pension

An adult dependant's pension is a lifetime income paid by the NHS Pension Scheme to your surviving spouse, civil partner, or nominated partner after your death.

Advance Decision / Living Will

An advance decision (living will) is a legally binding document specifying medical treatments you want to refuse if you later cannot make or communicate decisions.

Age 18 to 25 Trust

An Age 18 to 25 Trust is a will trust created by parents allowing children to inherit at a chosen age between 18 and 25, with favourable inheritance tax treatment.

Age of Majority

Age of majority is 18 in England and Wales—the age when you legally become an adult with full rights to make a will, inherit property directly, and enter into binding contracts.

Agricultural Land

Agricultural land is land actively used for farming purposes that may qualify for significant inheritance tax relief when passed through a will.

Agricultural Property Relief (APR)

Agricultural Property Relief (APR) is an inheritance tax relief that reduces or eliminates tax on qualifying farmland and farmhouses.

AIM-listed Company

An AIM-listed company is a business traded on the Alternative Investment Market for smaller companies, treated as 'unquoted' for UK inheritance tax purposes.

Annual Exemption

The Annual Exemption is the £3,000 allowance each person can give away each tax year (6 April to 5 April) without those gifts being added to their estate for IHT purposes.

Apostille

An apostille is an official certificate issued by the UK government that verifies a document's authenticity for use in over 120 countries without further authentication.

Appropriation

Appropriation is the legal power allowing executors to transfer a specific estate asset directly to a beneficiary instead of selling it and distributing cash.

Armed Forces Wills

Armed forces wills, also called privileged wills, allow UK military personnel in actual military service to make valid wills without witnesses or even in spoken form under special legal provisions.

Art and Collectibles

Art and collectibles are valuable tangible items like paintings, antiques, sculptures, and jewellery that require professional valuation for inheritance tax purposes.

Articles of Association

Articles of association are the internal rulebook for a limited company, setting out how it operates and what happens to shares when someone dies.

Assent

An assent is a legal document that transfers ownership of property from a deceased person's estate to the beneficiary who inherits it.

Assets

Assets are everything you own that has value—including property, savings, investments, personal possessions, and digital accounts—which together form your estate when you die.

Attestation Clause

An attestation clause is the formal statement at the end of a will that records how the testator and witnesses signed it, providing evidence of proper execution under UK law.

Attestation Clause (International Wills)

An attestation clause for an international will is a formal certificate confirming that all legal requirements under the Washington Convention have been met.

Attorney (LPA Context)

An attorney (in the LPA context) is a person you legally appoint through a Lasting Power of Attorney to make decisions on your behalf if you lose mental capacity.

Attorney Powers and Limitations

Attorney powers and limitations define what attorneys appointed under a Lasting Power of Attorney can and cannot do on behalf of the donor who appointed them.

B

Bankruptcy and Wills

Bankruptcy doesn't stop you making a will, but it affects what assets you can leave and means any inheritances you receive before discharge go to your creditors, not you.

Bare Trust

A bare trust is a trust where a beneficiary has the absolute right to receive assets on demand once they reach adulthood (age 18 in England and Wales, 16 in Scotland).

Beneficial Interest

Beneficial interest is the right to enjoy the economic benefits of a property or asset (such as income, use, or sale proceeds) even when someone else holds the legal title.

Beneficiary

A beneficiary is a person or organisation you name in your will to receive assets, money, or property from your estate after you die.

Beneficiary Witness Rule

The Beneficiary Witness Rule is a legal principle under Section 15 of the Wills Act 1837 that voids any gift to a person who witnesses the will.

Bereavement Support Payment

Bereavement Support Payment is a government benefit that provides a lump sum and monthly payments for up to 18 months to help with costs after your spouse or partner dies.

Best Interests

Best interests is the legal principle that decisions made on behalf of someone who lacks mental capacity must genuinely benefit them and respect their wishes.

Bitcoin

Bitcoin is digital currency that operates independently of banks or governments, secured by cryptography and recorded on a public ledger called the blockchain.

Blended Family

A blended family is a household where one or both partners have children from previous relationships, creating a family structure that includes stepchildren, biological children, or both.

Blockchain

Blockchain is a secure digital ledger system that records transactions in connected blocks across multiple computers, enabling cryptocurrency to exist without central control.

Body Donation to Medical Science

Body donation to medical science is the process of giving your whole body to a medical school after death to be used for teaching anatomy, surgical training, or medical research.

Bona Vacantia

Bona vacantia is the legal term for ownerless property that passes to the Crown when someone dies without a will and no living relatives can be found to inherit their estate.

Breach of Trust

Breach of trust occurs when a trustee fails to comply with the trust's terms or their legal duties, making them personally liable to compensate beneficiaries for losses.

Brussels IV Regulation

Brussels IV Regulation is an EU law that determines which country's inheritance rules apply when someone dies with connections to multiple EU countries.

Burden of Proof

Burden of proof is the legal obligation to provide sufficient evidence to establish a claim in a will dispute, typically on the balance of probabilities.

Business Assets

Business assets are all property owned by or used in your business that may qualify for inheritance tax relief when passed through your estate.

Business Property Relief (BPR)

Business Property Relief (BPR) is an inheritance tax relief that reduces qualifying business assets' taxable value by 50% or 100%, helping family businesses pass intact.

Business Succession Planning

Business succession planning is the process of deciding who will own and run your business after your death or retirement and how to transfer it efficiently.

Business Valuation

Business valuation is the process of determining the worth of your business, company shares, or business assets for inheritance tax and probate purposes.

Buy-to-Let Property

A buy-to-let property is a house or flat purchased specifically to rent out to tenants as an investment, typically financed with a specialist buy-to-let mortgage.

C

Capacity Assessment

A capacity assessment is a formal evaluation by a solicitor, doctor, or both to determine whether someone has the mental ability to make a specific legal decision.

Capital Gains Tax (Estate Context)

Capital Gains Tax in an estate context refers to tax treatment of asset gains when someone dies, where death provides a tax-free 'uplift' that eliminates CGT on historical gains.

Care Home Fees

Care home fees are the costs charged for residential or nursing home care, which can significantly deplete your estate depending on your savings, property value, and income.

Caveat

A caveat is a formal notice entered at the Probate Registry that stops anyone from obtaining a grant of probate or letters of administration for 6 months.

Caveat Emptor (Will Challenges)

Caveat emptor in will challenges means potential challengers must investigate their concerns and gather solid evidence before bringing a claim or risk paying substantial costs.

Certificate Provider

A certificate provider is an independent person who confirms the donor understands their Lasting Power of Attorney, is making it voluntarily without pressure, and has the mental capacity to do so.

Chain of Representation

A chain of representation is a legal principle where the executor of a deceased executor automatically assumes responsibility for completing the original estate administration.

Chargeable Estate

Your chargeable estate is the portion of your estate actually subject to Inheritance Tax, calculated after deducting debts, exemptions, and reliefs.

Chargeable Lifetime Transfer (CLT)

A Chargeable Lifetime Transfer (CLT) is a gift made during your lifetime, typically into a trust, that triggers an immediate 20% tax charge on amounts exceeding £325,000.

Charitable Trust

A charitable trust is a trust established exclusively to benefit registered charities, giving trustees flexibility to distribute assets while receiving complete inheritance tax relief.

Charity Exemption

Charity exemption is an inheritance tax relief that makes gifts to UK registered charities completely tax-free and can reduce the tax rate on your estate from 40% to 36%.

Chattels

Chattels are your personal belongings, tangible movable property you can physically touch and move, such as furniture, jewellery, and vehicles, but not money or investments.

Child / Children

In UK wills, "children" refers to your biological sons and daughters and any legally adopted children, but does not automatically include stepchildren unless named specifically.

Citation

A citation is a formal court notice compelling someone entitled to probate to act within a specified time or forfeit their right as executor.

Civil Partner

A civil partner is someone who has registered a civil partnership, a legally recognized relationship that provides identical inheritance rights and tax exemptions as marriage.

Claimant

A claimant is the person who starts a legal case by bringing a claim to court—in estate disputes, this is typically someone challenging a will or seeking provision from an estate.

Classic Car

A classic car is an older vehicle (typically 20+ years) valued for its age, rarity, or historical significance that forms part of your estate and must be valued for IHT purposes.

Clinical Negligence

Clinical negligence occurs when a healthcare provider breaches their duty of care to a patient through substandard treatment that directly causes harm or worsening of their condition.

Cloud Storage

Cloud storage is an online service (like Google Drive, iCloud, or Dropbox) that stores your files remotely on internet servers, requiring specific arrangements for executor access after death.

Codicil

A codicil is a legal document that makes specific changes to an existing will without replacing the entire will, though modern practice generally favours writing a new will instead.

Cohabitation Agreement

A cohabitation agreement is a legally binding contract between unmarried partners that sets out who owns what property, who pays for what, and what happens if they separate or die.

Cohabitee / Unmarried Partner

A cohabitee or unmarried partner is someone living with their romantic partner without being married or in a civil partnership, a status that provides no automatic inheritance rights under UK law.

Common Law Marriage Myth

The common law marriage myth is the widespread but false belief that living together for a certain period automatically grants unmarried couples the same legal rights as married couples—it doesn't.

Commorientes Rule

The commorientes rule is a legal presumption that when two or more people die together and you cannot prove who died first, the younger person is deemed to have survived the older person.

Company Administrator

A company administrator is a licensed insolvency practitioner appointed to take control of a financially distressed company to rescue it, restructure it, or achieve the best outcome for creditors.

Company Shares

Company shares are units of ownership in a business that represent your stake in the company and form part of your estate when planning your will.

Contemplation of Marriage Clause

A contemplation of marriage clause is a provision in your will that prevents it from being automatically cancelled when you marry a particular named person.

Contesting a Will / Contentious Probate

Contesting a will (contentious probate) is the legal process of challenging a will's validity or claiming financial provision from an estate when someone believes the will is invalid or inadequate.

Contingent Interest

A contingent interest is a right to receive inheritance or trust property only if a specific condition is met, such as reaching a certain age or surviving another person.

Controlling Interest

Controlling interest is the ownership of enough shares in a company, typically more than 50% of voting shares, to control major business decisions and determine the company's direction.

Costs Order

A costs order is a court's decision about who pays the legal bills after a dispute, usually requiring the losing party to pay both sides' costs, which can total £50,000 or more.

Court of Protection

The Court of Protection is a specialist UK court that makes decisions about finances and welfare for people who lack mental capacity to make those decisions themselves.

Creditor

A creditor is a person or organization to whom the deceased owed money at the time of death, and who has a legal right to claim payment from the deceased's estate.

Cross-Option Agreement

A cross-option agreement is a legal contract between business shareholders that gives survivors the right to buy and the deceased's estate the right to sell shares on death.

Cryptocurrency

Cryptocurrency is digital currency secured by cryptography and recorded on a blockchain, constituting personal property under UK law that can be included in your will.

Cryptocurrency Wallet

A cryptocurrency wallet is a digital tool that stores private keys—secret codes needed to access, manage, and transfer cryptocurrency, rather than storing the actual coins themselves.

Currency Fluctuation Risk

Currency fluctuation risk is the financial impact of exchange rate changes on foreign assets in your estate between death and distribution to beneficiaries.

D

Death in Service Benefit

Death in service benefit is a tax-free lump sum, typically 2-4 times your salary, paid to your nominated beneficiaries if you die while employed.

Deed of Variation

A deed of variation is a legal document allowing beneficiaries to redirect inheritance within two years of death, as if the deceased made the change.

Deemed Domicile

Deemed domicile is a UK tax rule treating long-term residents (15+ years historically, 10+ from 2025) as UK domiciled for Inheritance Tax on worldwide assets.

Defendant (Probate Context)

In probate disputes, a defendant is the party being sued who must respond to legal challenges about a will's validity, estate administration, or inheritance claims.

Deferred Member (NHS)

A deferred member (NHS) is a former NHS employee who left the Pension Scheme before retirement but kept their accumulated benefits until normal pension age.

Defined Benefit Pension

A defined benefit pension is a workplace pension that pays you a guaranteed retirement income based on your salary and years of service, with your employer bearing all investment risk.

Defined Contribution Pension

A defined contribution pension is a retirement savings pot where your payout depends on contributions and investment performance, not a guaranteed salary-based amount.

Dependent

A dependent is someone who relies on you for financial support and may have legal rights to claim from your estate even if not named in your will.

Deprivation of Liberty Safeguards (DoLS)

Deprivation of Liberty Safeguards (DoLS) are legal protections for people in care homes or hospitals who lack mental capacity to consent to restrictions on their freedom.

Deputy

A deputy is a person or organisation appointed by the Court of Protection to make decisions on behalf of someone who lacks mental capacity and doesn't have a lasting power of attorney in place.

Devastavit

Devastavit is a legal claim against an executor who has caused financial loss to an estate through mismanagement, making them personally liable.

Digital Assets

Digital assets are anything stored electronically that you own or have rights to use, including cryptocurrency, online accounts, social media, and digital files.

Digital Executor

A digital executor is a person named in your will to manage your online accounts, digital assets, and electronic records after your death.

Digital Footprint

Your digital footprint is the complete record of your online presence—every account, post, email, photo, and interaction—that persists after your death unless someone takes action to manage it.

Digital Legacy

Digital legacy is all the online accounts, digital files, and electronic data you leave behind when you die, from social media to cryptocurrency.

Direct descendants are your children, grandchildren, great-grandchildren, and all future generations in your direct line, including adopted children and stepchildren if you're married to their parent.

Director

A director is a person legally appointed to manage a limited company's day-to-day operations on behalf of shareholders, ensuring UK law compliance.

Directors and Officers Insurance

Directors and Officers Insurance (D&O) is liability insurance protecting company directors personally by covering legal costs when sued for wrongful acts.

Disabled Person's Trust

A Disabled Person's Trust holds assets for someone with a qualifying disability, protecting benefit eligibility while providing inheritance tax advantages.

Disclaimer (of Inheritance)

A disclaimer of inheritance is a formal refusal to accept a gift left to you in a will or through intestacy, treating you as if you had never been entitled to it.

Discretionary Trust

A discretionary trust is a flexible trust where trustees have complete discretion to decide which beneficiaries receive trust assets, how much they receive, and when.

Disinheritance

Disinheritance is when you deliberately exclude someone from your will who would normally expect to inherit from you—such as a child, spouse, or other close family member.

Dissolution (of Civil Partnership)

Dissolution is the legal process of ending a civil partnership through a court order, equivalent to divorce, which removes your former partner from your will.

Distribution

Distribution is the final stage of estate administration where the executor transfers assets to beneficiaries after paying all debts, taxes, and expenses.

Dividend

A dividend is a payment of company profits distributed to shareholders, typically paid regularly as a reward for holding shares in that company.

Divorce

Divorce is the legal process that ends a marriage, automatically revoking any gifts to your former spouse in your will and removing them as executor.

DIY Will Risks

DIY will risks are the legal and practical problems that occur when you write a will yourself without professional help, potentially making it invalid.

DNR / DNACPR

DNACPR (do not attempt cardiopulmonary resuscitation) is a medical form completed by a doctor stating that CPR should not be attempted if your heart or breathing stops.

Domain Name

A domain name is the unique internet address (like "yourname.co.uk") that you register to direct visitors to your website and acts as a transferable digital asset.

Domicile

Domicile is the country you consider your permanent legal home, determining which country's laws apply to your inheritance and estate.

Domicile of Choice

Domicile of choice is the country you've actively chosen to make your permanent home by living there and intending to remain indefinitely.

Domicile of Origin

Domicile of origin is the legal "home country" you're automatically assigned at birth based on your parents' domicile, usually your father's if your parents were married.

Donor (LPA Context)

A donor (in LPA context) is the person who creates a lasting power of attorney and appoints one or more attorneys to make decisions on their behalf if they lose mental capacity.

Double Taxation Treaty

A double taxation treaty is an agreement between the UK and another country that prevents you from paying inheritance tax twice on the same assets when you die.

Drag-Along Rights

Drag-along rights are contractual provisions allowing majority shareholders to force minority shareholders to sell their shares when the majority accepts a sale offer.

Dual Will Strategy

A dual will strategy is an estate planning approach where you create separate wills in different countries to govern assets in each jurisdiction.

E

Earn-out Agreement

An earn-out agreement is a business sale payment structure where the buyer pays part of the purchase price later, contingent on the business achieving agreed performance targets after completion.

Enduring Power of Attorney (EPA)

An Enduring Power of Attorney (EPA) is a legal document created before October 2007 that appointed someone to manage your property and financial affairs, continuing even if you lost mental capacity.

Equity

Equity is the portion of your property that you own outright, calculated by subtracting your outstanding mortgage and secured loans from your property's current market value.

Equity Release

Equity release is a financial product allowing homeowners aged 55+ to access cash from their property's value while continuing to live there.

Estate

An estate is everything a person owns (their assets) minus everything they owe (their debts), which passes to their beneficiaries after death.

Estate Accounts

Estate accounts are detailed financial records showing all assets, debts, expenses, and distributions in a deceased person's estate until final distribution.

Estate Administration

Estate administration is the legal process of collecting a deceased person's assets, paying debts and taxes, and distributing the remainder to beneficiaries.

Estate Planning

Estate planning is organizing how your property, money, and possessions will be managed and passed on when you die or if you become unable to make decisions yourself.

Estrangement

Estrangement is a breakdown in family relationships where contact stops, which can affect but doesn't eliminate inheritance rights under UK law.

Ethereum

Ethereum is a cryptocurrency and programmable blockchain platform whose digital currency (ETH) is legally recognized as property in the UK.

European Certificate of Succession

A European Certificate of Succession is an official EU document proving your right to inherit assets or administer estates across multiple EU countries.

Excepted Estate

An excepted estate qualifies for simplified inheritance tax reporting to HMRC, letting executors apply for probate without completing the full IHT400 form.

Execution (of a Will)

Execution of a will is the formal signing process required by law to make it legally valid, involving your signature and two witnesses present together.

Executor

An executor is the person you name in your will to manage your estate after you die, ensuring your debts are paid and your belongings go to the right people.

Executor's Year

The executor's year is a 12-month period from death during which executors cannot be forced to distribute the estate, allowing time to settle debts.

Exit Charge

An exit charge is an inheritance tax charge (up to 6% of the asset value) that trustees must pay when distributing money or assets from a discretionary trust to beneficiaries.

Expat Will

An expat will is a will designed for UK citizens living abroad or anyone with cross-border assets, addressing international estate planning complexities.

F

Family Provision

Family provision is the legal mechanism allowing certain family members and dependants to claim financial support from a deceased person's estate if inadequately provided for.

FATCA

FATCA (Foreign Account Tax Compliance Act) is US legislation requiring banks worldwide to report accounts held by American citizens to the IRS.

Fiduciary Duty

Fiduciary duty is the legal obligation for executors, trustees, and personal representatives to act with loyalty and care for beneficiaries.

Final Distribution

Final distribution is the conclusive transfer of estate assets to beneficiaries after all debts, taxes, and administration tasks are complete.

Financial Advisor / IFA

A financial advisor is an FCA-regulated professional who provides expert advice on investments, pensions, inheritance tax planning, and financial strategies.

Financial Provision Claim

A financial provision claim is a legal application under the Inheritance Act 1975 to vary a deceased person's estate when insufficient provision was made for eligible family members.

Fixed Fee vs Hourly Rate

Fixed fee is a set price agreed upfront for legal work regardless of time spent, while hourly rate charges clients based on actual hours worked by solicitors.

Forced Heirship

Forced heirship is a legal rule in civil law countries that requires you to leave a minimum portion of your estate—typically 50-75%—to your children, regardless of your wishes.

Foreign Assets

Foreign assets are property, money, investments, or possessions located outside the UK that form part of your estate.

Forfeiture Rule

The Forfeiture Rule prevents anyone who unlawfully kills another person from inheriting from their victim's estate or receiving any financial benefit arising from the death.

Forgery

Forgery is the criminal act of creating a fake will or altering an existing will without authority, with intent to deceive others into accepting it as genuine.

Fraud

Fraud in wills is the deliberate use of deception, misrepresentation, or dishonesty to manipulate a will's contents or who benefits from it, making the will invalid.

Freehold

Freehold is a type of property ownership where you own both the building and the land it stands on outright, with no time limit and no ground rent to pay.

Funeral Expenses

Funeral expenses are the costs of arranging a funeral, paid from the deceased's estate as a priority debt before most other claims and inheritances.

Funeral Wishes

Funeral wishes are written instructions about how you want your funeral conducted and body disposed of, usually in your will or a letter of wishes.

G

Gift with Reservation of Benefit (GROB)

A Gift with Reservation of Benefit (GROB) occurs when you give away an asset but continue to benefit from it, so it remains in your estate for inheritance tax.

Gifts out of Normal Expenditure

Gifts out of normal expenditure is an IHT exemption allowing unlimited regular gifts from surplus income without reducing your standard of living.

GMC Registration

GMC registration is the official approval from the General Medical Council that allows a doctor to legally practise medicine in the UK, confirming they meet required standards for safe patient care.

Godparents

Godparents are people chosen by parents to support a child's spiritual development and act as mentors, but they have no automatic legal rights or responsibility for the child under UK law.

Goodwill

Goodwill is the intangible value of a business beyond its physical assets, including reputation, customer relationships, and brand recognition.

GP Partnership Death Provisions

GP Partnership Death Provisions are clauses in a medical practice partnership agreement that allow the practice to continue operating when a partner dies.

Grant de Bonis Non

A grant de bonis non is a special probate grant appointing a new administrator to complete estate administration when the original executor dies or becomes incapable.

Grant of Double Probate

A grant of double probate is a second probate grant issued to an executor who initially had 'power reserved,' allowing them to join estate administration later.

Grant of Probate

A Grant of Probate is an official court document that gives executors the legal authority to access, manage, and distribute a deceased person's estate when there's a valid will.

Grant of Representation

A Grant of Representation is the legal document issued by the Probate Registry authorizing a person to administer a deceased person's estate in England and Wales.

Gross Estate

Gross estate is the total value of everything you own at death, including property, savings, investments, and recent gifts, before deducting debts.

Ground Rent

Ground rent is an annual fee that leasehold property owners pay to the freeholder for the right to occupy the land their home sits on, without receiving any services in return.

Guardian

A guardian is a person you legally appoint in your will to care for your children if you die before they turn 18, giving them full parental responsibility.

H

Hardware Wallet

A hardware wallet is a physical device that stores your cryptocurrency private keys offline, protecting them from hackers while requiring careful backup planning.

Health and Welfare LPA

A health and welfare LPA is a legal document that lets you choose someone to make healthcare and personal care decisions for you if you lose mental capacity.

Heritage Assets Relief

Heritage Assets Relief provides conditional exemption from inheritance tax for nationally important buildings, land, artworks, and collections made accessible to the public.

HMRC

HMRC (His Majesty's Revenue and Customs) is the UK government department that collects taxes, including inheritance tax, and provides probate clearance.

Holographic Will

A holographic will is a will written entirely by hand. In England and Wales, it must still be witnessed by two independent adults to be legally valid.

Hospital/Care Home Will Making

Hospital or care home will making is the process of creating or updating a legally valid will while you are a patient in a hospital, hospice, or resident in a care home.

I

IHT400

Form IHT400 is HMRC's detailed Inheritance Tax return that executors complete to report the full value of an estate and calculate any tax due.

Ill-Health Retirement

Ill-health retirement is when you can access your pension before normal retirement age because a permanent health condition prevents you from continuing in your job.

Immovable Property

Immovable property is land and anything permanently attached to it—such as buildings, structures, or minerals—that cannot be moved without causing damage or altering its nature.

Indemnity

Indemnity is legal protection that safeguards executors or beneficiaries from financial loss arising from estate administration or distribution.

Inheritance

Inheritance is the money, property, and possessions you receive from someone who has died, either as they specified in their will or according to legal rules if they didn't make one.

Inheritance Act 1975

The Inheritance Act 1975 allows family members and dependants to challenge a will or intestacy if they haven't received reasonable financial provision.

Inheritance Tax (IHT)

Inheritance Tax (IHT) is a tax paid on the estate of someone who has died, charged at 40% on the value above £325,000.

Insolvent Estate

An insolvent estate is an estate where the deceased's debts exceed their assets, requiring creditors to be paid in strict legal priority order with nothing left for beneficiaries.

Intellectual Property

Intellectual property is the legal ownership of creations like copyrights, patents, trademarks, and designs that you can include in your will and pass on to beneficiaries.

Interim Distribution

An interim distribution is a partial inheritance payment made to beneficiaries before all debts, taxes, and expenses are finalised.

Intestacy

Intestacy occurs when someone dies without a valid will, meaning strict legal rules—rather than the deceased's wishes—automatically determine who inherits their estate.

Invalid Will

An invalid will is a will that doesn't meet the legal requirements for validity under UK law, making it unenforceable and unable to distribute the deceased person's estate.

Inventory of Assets

An inventory of assets is a comprehensive valued list of all property, possessions, and debts owned by the deceased at death.

Investment Portfolio

An investment portfolio is the collection of all your financial investments, including stocks, shares, funds, ISAs, and bonds.

ISA (Individual Savings Account)

An ISA (Individual Savings Account) is a UK tax-efficient savings or investment account where income and growth are free from income tax and capital gains tax up to an annual £20,000 limit.

Issue

Issue is the legal term for all your lineal descendants—your children, grandchildren, great-grandchildren, and every subsequent generation in your direct bloodline.

J

Joint Bank Account (Estate Treatment)

A joint bank account is a bank account held by two or more people where, in England and Wales, the surviving account holder(s) automatically inherit all the money when one account holder dies.

Joint Tenants

Joint tenants are property co-owners with equal rights and automatic survivorship, meaning survivors inherit when one owner dies.

Jointly (Attorneys)

Jointly appointed attorneys must unanimously agree on every decision. If one cannot act, the entire LPA fails unless replacements exist.

Jointly and Severally (Attorneys)

Jointly and severally means LPA attorneys can make decisions either independently or together, providing maximum flexibility.

K

Key Person Insurance

Key Person Insurance is a business-owned life insurance policy that pays the company if a crucial employee or director dies.

L

Lack of Due Execution

Lack of due execution is a legal ground for challenging a will's validity when the strict signing and witnessing requirements of the Wills Act 1837 were not properly followed.

Lack of Knowledge and Approval

Lack of knowledge and approval is a ground for challenging a will where the testator didn't understand what was in the will or what its effect would be when signing.

Land Registry

HM Land Registry maintains the official digital record of property ownership in England and Wales, providing legally guaranteed proof.

Lapse

Lapse is when a gift in your will fails because the intended beneficiary has died before you, causing that gift to return to your estate's residue unless specific exceptions apply.

Larke v Nugus Request

A Larke v Nugus request is a formal letter to the solicitor who drafted a disputed will, asking how it was prepared and whether the deceased had capacity.

Lasting Power of Attorney (LPA)

A Lasting Power of Attorney (LPA) is a legal document that allows you to appoint one or more trusted people to make decisions on your behalf if you become unable to do so yourself.

Law Society

The Law Society is the professional organization for solicitors in England and Wales. It sets best-practice standards and helps you find qualified legal professionals.

Leasehold

Leasehold is property ownership where you own the right to occupy for a fixed number of years, but the land belongs to a freeholder.

Legacy / Bequest

A legacy (also called a bequest) is any gift you leave in your will, whether a specific item, cash sum, or share of the residue.

Legal Guardian vs Godparent

A legal guardian is formally appointed in your will with full parental responsibility, while a godparent is ceremonial with no legal authority.

Legalization

Legalization is officially certifying UK legal documents as genuine so they can be accepted by authorities outside the Hague Convention.

Letter of Wishes

A Letter of Wishes is a confidential, non-binding document providing guidance to executors and trustees on managing your estate.

Letters of Administration

Letters of Administration is a court document giving legal authority to manage the estate of someone who died without a valid will.

Leveraged Buyout

A leveraged buyout is acquiring a business primarily through borrowed money, with the company's assets as security and its cash flow repaying the loan.

LGBTQ+ Considerations

LGBTQ+ considerations are legal and family issues that LGBTQ+ individuals should address in wills to protect partners, children, and identity.

Liabilities / Debts

Liabilities are debts, taxes, and funeral expenses that must be paid from your estate before inheritance is distributed to beneficiaries.

Life Insurance

Life insurance is a financial product that pays out a lump sum or regular income to your chosen beneficiaries when you die, providing financial security for your loved ones.

Life Insurance Trusts

A life insurance trust places your life insurance policy into a trust so the payout bypasses your estate, avoiding inheritance tax and probate delays.

Life Interest Trust

A Life Interest Trust gives one person the right to benefit from assets during their lifetime, with the assets passing to others after they die.

Life Tenant

A life tenant is someone with the right to live in a property or receive trust income for their lifetime, while the capital is preserved for others to inherit after their death.

Lifetime Gift

A lifetime gift is cash, property, or assets you give away while alive, which can reduce inheritance tax if you survive seven years.

Lifetime Trust

A lifetime trust is created while alive, transferring assets to trustees who manage them for beneficiaries according to your trust deed.

Limited Company

A limited company is a separate legal entity from its owners, with shareholders whose personal liability is limited to their investment.

Lock-in Provision

A lock-in provision is a contractual restriction preventing shareholders from selling their shares for a specified period, ensuring key stakeholders remain committed to the business.

Locum Income

Locum income is earnings from temporary medical work, typically paid to self-employed doctors or healthcare workers who fill short-term positions or cover for absent colleagues.

M

Main Residence

Your main residence is the property where you live, qualifying for an additional £175,000 IHT allowance when left to direct descendants.

Management Buyout (MBO)

A management buyout (MBO) is when the existing management team purchases the company from its current owners, often used by business owners as an exit or retirement strategy.

Mediation (Probate Disputes)

Mediation for probate disputes is a confidential process where an impartial professional helps parties resolve disagreements about wills or estates without going to court.

Medical Defence Organization (MDO)

A Medical Defence Organization (MDO) provides professional indemnity cover and legal support to doctors facing negligence claims, complaints, and regulatory investigations.

Medical Indemnity Insurance

Medical indemnity insurance protects healthcare practitioners from negligence claims, covering legal costs and compensation when patients allege treatment caused harm.

Medical Practice Succession

Medical practice succession is the planned transfer of a doctor's ownership share in their practice to continuing or new partners when they retire, become incapacitated, or die.

Mental Capacity

Mental capacity is your legal ability to understand and make decisions for yourself at the time a decision needs to be made, governed by the Mental Capacity Act 2005.

Mental Capacity Act 2005

The Mental Capacity Act 2005 is UK legislation establishing a legal framework for making decisions on behalf of adults who lack the mental capacity to make specific decisions for themselves.

Minor

A minor is anyone under 18 years old who has not yet reached the age of majority and therefore has limited legal capacity to manage assets or make binding legal decisions.

Minority Shareholder

A minority shareholder owns less than 50% of a company's voting shares and cannot control major decisions without other shareholders' agreement.

Mirror Wills

Mirror wills are two separate matching wills created by a couple, where each partner leaves their estate to the other first, then to the same beneficiaries after both have died.

Missing Beneficiary Insurance

Missing beneficiary insurance protects executors from financial liability if an unknown or untraceable beneficiary claims their share after the estate has been distributed.

Mortgage

A mortgage is a loan secured against property that allows you to buy a home, where the lender can repossess and sell the property if you fail to make repayments.

Movable Property

Movable property is tangible personal belongings you can physically move, such as furniture, jewellery, and cars, excluding money and investments.

Mutual Wills

Mutual wills are separate wills made by two people with a binding agreement preventing the survivor from changing their will after one dies.

N

National Will Register

The National Will Register is a voluntary UK-wide database where you record that you've made a will and where it's stored, helping executors locate it after your death.

Net Estate

Net estate is the total value of everything you own (your gross estate) minus all debts, mortgages, and other liabilities you owe at the time of your death.

Next of Kin

Next of kin means your closest living relative, though in the UK it has no universal legal definition and grants no automatic inheritance rights.

NFT (Non-Fungible Token)

An NFT (Non-Fungible Token) is a unique digital certificate of ownership recorded on a blockchain proving you own a specific digital asset.

NHS Pension Death Benefits

NHS Pension Death Benefits are lump sums and ongoing pensions paid to your family by the NHS Pension Scheme if you die while working for the NHS.

NHS Pension Scheme

The NHS Pension Scheme is a defined benefit pension plan for NHS employees that provides guaranteed retirement income and death benefits outside of your estate.

NHSBSA (NHS Business Services Authority)

The NHSBSA is the government body administering the NHS Pension Scheme in England and Wales, processing death benefits and pensions.

Nil-Rate Band (NRB)

The nil-rate band is the amount of your estate—currently £325,000—that can be passed on when you die without your beneficiaries paying inheritance tax.

No Family to Inherit

No family to inherit means you don't have relatives to leave your estate to, or you prefer to leave it to friends, charities, or other causes you care about.

No-Contest Clause / In Terrorem Clause

A no-contest clause causes a beneficiary to forfeit their inheritance if they challenge the will, with the gift passing to an alternative beneficiary.

Nomination Form (NHS)

An NHS pension nomination form is a document that tells the NHS Pension Scheme who you want to receive death benefits from your pension, though the scheme trustees make the final decision.

Non-compete Clause

A non-compete clause is a contractual restriction preventing someone from competing with a business for a specified period after leaving.

O

Oath (Executor/Administrator)

The executor's oath was the traditional sworn declaration for probate, replaced since 2018 by a simpler signed statement of truth.

Office of the Public Guardian (OPG)

The Office of the Public Guardian (OPG) registers Lasting Powers of Attorney, supervises deputies, and protects people lacking mental capacity.

Online Business

An online business operates primarily through the internet, including e-commerce stores, digital services, and content platforms.

Online Will Service

An online will service is a digital platform that helps you create a legally valid will by answering questions online, then generating a document you must print, sign, and witness.

Organ Donation

Organ donation is the decision to allow your organs and tissue to be used to save or improve others' lives after your death, governed by UK opt-out consent laws and family consultation.

Overseas Property

Overseas property is land or buildings you own in another country, which is typically governed by that country's inheritance laws rather than UK law when you die.

P

Parental Gifts Trust

A parental gifts trust is a trust where a parent transfers assets to their child under 18, with income over £100 annually taxed as the parent's.

Parental Responsibility

Parental responsibility is the legal right and duty to make decisions about a child's upbringing, including education, medical care, and welfare.

Partial Intestacy

Partial intestacy occurs when someone dies with a valid will that doesn't dispose of all assets, with the remainder passing under intestacy rules.

Partnership

A partnership is a business structure where two or more people share ownership, profits, and unlimited personal liability for debts without forming a separate legal entity.

Partnership Dissolution

Partnership dissolution is the legal ending of a partnership relationship, triggering a winding up process to settle debts and distribute assets.

Password Manager

A password manager is a secure application that stores all your online account passwords in one encrypted vault, protected by a single master password you create.

Pecuniary Legacy

A pecuniary legacy is a fixed sum of money that you leave to a specific person or charity in your will, such as "£10,000 to my nephew James" or "£5,000 to the RSPCA."

Pension

A pension is a retirement savings arrangement where contributions are invested during your working life to provide income when you retire, with favorable tax treatment.

Pension Credit (Divorce)

A pension credit (divorce) is pension rights awarded to an ex-spouse under a court pension sharing order, creating an independent pension in their name.

Pension Nomination

A pension nomination (or expression of wish) is a form telling your pension provider who should receive your pension savings if you die, though trustees make the final decision.

Pensionable Pay

Pensionable pay is the portion of your NHS salary used to calculate pension contributions and benefits, including basic pay plus certain allowances but excluding overtime and bonuses.

Pensioner Member

A pensioner member is someone who is currently receiving regular pension payments from a pension scheme and is no longer actively building up new pension benefits in that scheme.

Per Capita

Per capita is a distribution method where your estate is divided equally among living beneficiaries, with no share passing to a deceased beneficiary's children.

Per Stirpes

Per stirpes is a distribution method in wills where each family branch receives an equal share, with deceased beneficiaries' children inheriting their parent's portion.

Periodic Charge

A periodic charge is inheritance tax of up to 6% that trustees pay every ten years on trust assets exceeding the nil-rate band, primarily affecting discretionary trusts.

Personal Chattels

Personal chattels are your tangible movable belongings—like furniture, jewellery, vehicles, and pets—excluding money, business assets, and items held as investments.

Personal Representative

A personal representative is someone with legal authority to administer a deceased person's estate, either as an executor named in the will or an administrator if there's no will.

Pilot Trust

A pilot trust is a discretionary trust created during your lifetime with a nominal sum (typically £10) that sits dormant until substantial assets are added later.

Post-nuptial Agreement

A post-nuptial agreement is a written contract created after marriage that sets out how a couple will divide their assets, property, and finances if they divorce or separate.

Potentially Exempt Transfer (PET)

A Potentially Exempt Transfer (PET) is a lifetime gift that becomes completely exempt from Inheritance Tax if you survive for seven years after making it.

Power of Appointment

A power of appointment is the legal authority to decide how trust assets are distributed among beneficiaries, including the discretion not to distribute them at all.

Power of Attorney vs Executor Difference

The key difference is that an attorney manages your affairs while you're alive, whereas an executor manages your estate after you die—separate roles with different timing.

Power Reserved

Power reserved allows a named executor to temporarily step back from estate administration while keeping the right to apply for probate later.

Pre-emption Rights

Pre-emption rights give existing shareholders the first opportunity to purchase shares before they can be offered to outsiders, protecting against dilution.

Pre-nuptial Agreement

A pre-nuptial agreement (prenup) is a contract signed before marriage setting out how assets will be divided if the couple divorces.

Pre-Owned Asset Tax (POAT)

Pre-Owned Asset Tax (POAT) is an annual income tax charge on people who continue benefiting from assets they previously owned or funded after giving them away.

Premium Bonds

Premium Bonds are a UK government savings product where each £1 enters monthly prize draws for tax-free cash prizes instead of earning interest.

Presence

Presence is the legal requirement that the testator and both witnesses must be physically together, able to see each other during will signing.

Private Key (Crypto)

A private key in cryptocurrency is a secret code that proves ownership and authorizes transactions—if lost or stolen, the funds are permanently inaccessible.

Probate

Probate is the legal authority that allows executors to access, manage, and distribute a deceased person's estate according to their will or intestacy rules.

Probate Fees

Probate fees are the court charges paid to HM Courts & Tribunals Service when applying for a grant of probate or letters of administration to manage a deceased person's estate.

Probate Registry

A probate registry is a court office where executors apply for legal authority to manage a deceased person's estate, receiving a grant of probate.

Professional Negligence (Will Drafting)

Professional negligence in will drafting occurs when a solicitor breaches their duty of care through errors or delays that cause financial loss to intended beneficiaries.

Property and Financial Affairs LPA

A Property and Financial Affairs LPA authorizes trusted people (attorneys) to manage your money and property when you're unable to or choose to delegate.

Property Protection Trust

A Property Protection Trust protects your share of a property for chosen beneficiaries while allowing someone else (typically your spouse) to live there.

Proprietary Estoppel

Proprietary estoppel is an equitable remedy that grants property rights to someone who relied on a promise or assurance about inheriting or acquiring property, and suffered detriment as a result.

Protecting Children from First Marriage

Protecting children from first marriage refers to legal strategies ensuring children from a previous relationship receive their inheritance when a parent remarries.

Protective Trust

A protective trust gives a beneficiary the right to trust income unless events like bankruptcy occur, when it converts to a discretionary trust.

Q

Qualifying Partner (NHS Context)

A qualifying partner (NHS context) is an unmarried partner who can receive NHS pension survivor benefits after living together for at least two years.

Qualifying Partner (NHS Pension)

A qualifying partner is an unmarried long-term partner who can receive NHS pension death benefits if formally nominated and meeting eligibility requirements.

Quick Succession Relief

Quick Succession Relief is an inheritance tax relief that reduces tax when someone dies within five years of inheriting assets that were already taxed.

R

Reasonable Financial Provision

Reasonable financial provision is the amount of support from an estate that the law considers a deceased person should have left to certain family members or financial dependants.

Receipt and Discharge

A receipt and discharge is a document signed by a beneficiary confirming they've received their inheritance and releasing the executor from further responsibility.

Receiving Inheritance (Beneficiary Perspective)

Receiving an inheritance means getting the money, property, or possessions left to you in a will, typically 6-9 months after death once the executor completes probate.

Rectification

Rectification is a court-ordered correction to a will that doesn't express the testator's intentions due to clerical errors or misunderstanding of instructions during drafting.

Reduced IHT Rate (36%)

The reduced IHT rate is a lower inheritance tax rate of 36% (instead of 40%) that applies when you leave at least 10% of your baseline estate to qualifying UK charities.

Registration (LPA)

Registration is submitting your completed Lasting Power of Attorney to the Office of Public Guardian to make it legally valid and usable by your attorneys.

Relevant Property Trust

A Relevant Property Trust is any trust subject to special inheritance tax charges when assets enter, every 10 years, and on distribution.

Remainderman

A remainderman is the person entitled to receive trust property after a life tenant's interest ends, typically when the life tenant dies.

Remote Witnessing

Remote witnessing was a temporary COVID-19 measure (31 January 2020 to 31 January 2024) allowing video call witnessing. This is no longer permitted in England and Wales.

Removal of Executor

Removal of executor is a court-ordered process where the High Court terminates an executor's appointment and appoints a substitute to protect beneficiaries' interests.

Rental Income

Rental income is the money you receive from letting out a property to tenants, including rent payments and any deposits retained for damage or unpaid bills.

Renunciation (Executor)

Executor renunciation is the formal process by which someone named as executor permanently declines the role before starting estate administration work.

Renvoi

Renvoi is a legal doctrine determining which country's laws apply to your estate when you have assets in multiple countries.

Repatriation of Assets

Repatriation of assets is the process of transferring a deceased person's overseas property and money back to the UK for distribution to beneficiaries.

Replacement Attorney

A replacement attorney is a backup person named in a Lasting Power of Attorney who automatically steps in if one of the original attorneys can no longer act on the donor's behalf.

Reserved Powers Trust

A reserved powers trust is a trust where the settlor retains specific control powers (such as directing investments) rather than transferring full authority to trustees.

Residence Nil-Rate Band (RNRB)

The Residence Nil-Rate Band (RNRB) is an additional £175,000 inheritance tax allowance when you leave your home to children or grandchildren.

Residuary Beneficiary

A residuary beneficiary is someone who inherits whatever remains of an estate after all debts, taxes, and specific gifts have been paid.

Residuary Estate / Residue

The residuary estate (or residue) is everything left in your estate after all debts, taxes, expenses, and specific gifts in your will have been paid and distributed.

Restrictions and Conditions (LPA)

Restrictions and conditions are provisions you can add to a Lasting Power of Attorney that control what your attorneys must do, cannot do, or should consider when making decisions on your behalf.

Restrictive Covenant

A restrictive covenant is a legally binding promise not to do something specific, commonly used to prevent competition or restrict how property can be used.

Revocation

Revocation is the legal cancellation of a will, either through deliberate actions like creating a new will or automatically when you marry.

S

Safeguarding

Safeguarding is the legal protection provided to vulnerable adults who have care and support needs and cannot protect themselves from abuse, neglect, or exploitation.

Sailors Wills

A sailor's will (or privileged will) is a will made by mariners at sea that remains valid without witnesses or written formalities under UK law.

Same-Sex Couple

A same-sex couple is two people of the same gender in a relationship, with identical legal rights to opposite-sex couples when married or in a civil partnership.

Scheme Administrator (Pension)

A scheme administrator is the person or organisation legally responsible for running a pension scheme, including processing contributions and deciding who receives death benefits.

Scotland vs England Will Differences

Scotland and England have separate legal systems with different rules for wills, including witness requirements, inheritance rights, and forced heirship provisions.

Second Home

A second home is any residential property you own in addition to your main residence, with distinct tax and estate planning implications.

Second Marriage

Second marriage is when someone marries again after a previous marriage ended through divorce, annulment, or death, creating important estate planning considerations.

Separation

Separation is when married couples or civil partners live apart, either informally by agreement or formally through a court order, while remaining legally married or partnered.

Service Charge

A service charge is a variable annual fee paid by leasehold property owners to cover the cost of maintaining the building, communal areas, insurance, and management services.

Settlement (Dispute)

A settlement (dispute) is a legally binding agreement reached between parties in a will or inheritance dispute to resolve their disagreement without going to court.

Settlor

A settlor is the person who creates a trust by transferring their assets into it and setting the rules for how those assets should be managed and distributed to beneficiaries.

Settlor-Interested Trust

A settlor-interested trust lets the settlor, their spouse, civil partner, or minor children benefit, so anti-avoidance rules tax all trust income as the settlor's personal income.

Seven-Year Rule

The Seven-year rule means that gifts you make during your lifetime become completely free from Inheritance Tax if you survive for at least seven years after making them.

Severance of Tenancy

Severance of tenancy is the legal process of changing property ownership from joint tenants to tenants in common, allowing each owner to leave their share in their will.

Share Valuation

Share valuation is the process of determining what company shares are worth for inheritance tax and probate purposes, using HMRC-approved methods.

Shareholders' Agreement

A shareholders' agreement is a private contract between company shareholders that sets out how shares can be transferred and what happens when a shareholder dies.

Small Estates (No Probate Required)

A small estate is one where the total value of assets is low enough that the executor can access funds and administer the estate without obtaining a formal grant of probate.

Small Gifts Exemption

The small gifts exemption allows you to give up to £250 to unlimited recipients each tax year without inheritance tax, if you haven't used another exemption for that person.

Social Media Account (Estate Context)

A social media account in estate context is an online profile held under license that cannot be inherited, but may be memorialised or deleted according to platform policies.

Sole Trader

A sole trader is someone who runs their own business as an individual, with no legal separation between the person and the business, meaning personal liability for all debts.

Solicitor

A solicitor is a qualified legal professional regulated by the Solicitors Regulation Authority who provides expert legal advice, including will writing and estate planning.

Specific Legacy

A specific legacy is a gift in your will of a particular item you own, such as "my diamond engagement ring" or "my 2020 Audi Q5", identified with possessive language.

Spouse

A spouse is your husband or wife—someone you are legally married to under UK law, giving you significant inheritance rights, tax exemptions, and legal protections.

Spouse Exemption

Spouse exemption is an Inheritance Tax relief that allows married couples and civil partners to pass unlimited assets to each other tax-free during life or on death.

Standing Search

A standing search is a request to the Probate Registry to automatically notify you when a grant of probate or letters of administration is issued for a deceased person's estate.

Standing to Challenge

Standing to challenge (locus standi) is the legal right to contest a will or claim against an estate if you would benefit financially from the challenge succeeding.

Statute of Limitations

A statute of limitations (or limitation period) is the legally defined deadline by which you must take court action to challenge a will, claim from an estate, or pursue other remedies.

Statutory Advertisements

Statutory advertisements are public notices that executors place in The Gazette and local newspapers to find unknown creditors and beneficiaries before distributing an estate.

Statutory Legacy

Statutory legacy is the fixed sum (currently £322,000) that a surviving spouse or civil partner automatically receives when someone dies without a valid will and has children.

STEP (Society of Trust and Estate Practitioners)

STEP is the global professional body for inheritance specialists. Full members earn the TEP designation after passing exams and demonstrating expertise in trusts and estates.

Step-child

A step-child is the son or daughter of your spouse from a previous relationship who has no automatic inheritance rights unless named in your will or legally adopted.

Stocks and Shares

Stocks and shares are units of ownership in companies (also called equities) that form part of your estate and must be identified, valued, and distributed according to your will.

Succession Law (International)

International succession law determines which country's inheritance laws apply to your estate when you have assets or connections in multiple countries.

Suspicious Circumstances

Suspicious circumstances are red flags surrounding how a will was made that require the person defending the will to prove it genuinely reflects the testator's wishes.

T

Tag-Along Rights

Tag-along rights are contractual provisions that allow minority shareholders to sell their shares alongside majority shareholders on the same terms when a third-party sale occurs.

Taper Relief

Taper relief is a sliding-scale tax reduction on large gifts made 3-7 years before death, reducing inheritance tax payable based on how long the donor survived.

Tax Year

The tax year is the 12-month period from 6 April to 5 April that HMRC uses to assess your tax liability and reset annual allowances and exemptions.

Tenants in Common

Tenants in common is a property ownership structure where each co-owner holds a separate share that can be left to beneficiaries in their will.

Testamentary Capacity

Testamentary capacity is the legal requirement to understand making a will, know what you own, recognise who should benefit, and not be influenced by mental disorder.

Testamentary Expenses

Testamentary expenses are the costs incurred by executors when administering an estate, including probate fees, professional fees, and other reasonable expenses.

Testator

A testator is the person who creates and signs a will, deciding how their estate (money, property, and possessions) should be distributed after they die.

The Gazette

The Gazette is the UK's official public record where executors can publish notices about deceased estates to protect themselves from personal liability for unknown creditors.

Timeshare

A timeshare is a property ownership arrangement or contractual right that allows you to use holiday accommodation for a specific period each year, usually carrying ongoing maintenance fee obligations.

Title Deeds

Title deeds are legal documents showing property ownership history. Since 1990, UK residential properties are registered digitally with HM Land Registry.

Transferable Nil-Rate Band (TNRB)

The Transferable Nil-Rate Band (TNRB) allows married couples and civil partners to combine their £325,000 inheritance tax allowances, potentially passing up to £650,000 tax-free.

Treasury Solicitor

The Treasury Solicitor is the senior government legal official who administers estates when someone dies without a will and has no entitled relatives.

Trust

A trust is a legal arrangement where assets are held and managed by trustees for the benefit of chosen beneficiaries, according to instructions set by the creator.

Trust Deed

A trust deed is the legal document that creates a lifetime trust and sets out how the trust assets should be managed and distributed to beneficiaries.

Trust Fund

A trust fund is the collection of assets held and managed by trustees for the benefit of named beneficiaries according to rules set by the settlor.

Trust Protector

A trust protector is a person or organisation appointed to oversee trustees and ensure they manage a trust according to the settlor's wishes, with powers to appoint or remove trustees.

Trust Registration Service

The Trust Registration Service (TRS) is HMRC's online register where trustees must record details about most UK trusts to comply with anti-money laundering and tax requirements.

Trustee

A trustee is a person or organisation you appoint to manage money or assets held in trust, with legal responsibility to use them solely for your beneficiaries' benefit.

Two-Factor Authentication (2FA) Estate Issues

Two-factor authentication (2FA) estate issues are the access barriers executors face when managing accounts that require the deceased person's phone, biometrics, or security key.

U

Undue Influence

Undue influence is coercion that overpowers a person's free will when making a will, forcing them to include provisions they would not otherwise have made but for that pressure.

Unmarried Couple Rights

Unmarried couple rights are the limited legal entitlements cohabiting partners have regarding inheritance in England and Wales, with no automatic rights regardless of relationship length.

Unquoted Company

An unquoted company is a company whose shares are not listed on a recognised stock exchange, including most private limited companies and AIM-traded businesses.

Uplift in Base Value

Uplift in base value is the automatic resetting of an asset's taxable value to its market price at death, meaning beneficiaries only pay Capital Gains Tax on increases after inheritance.

V

Valuation (Estate)

Estate valuation is the process of determining the total value of a deceased person's assets and debts at the date of death, required for probate and Inheritance Tax.

Vested Interest

A vested interest is a guaranteed right to property or assets under a will or trust that cannot be taken away, even if the beneficiary must wait to receive it.

Vulnerable Adult

A vulnerable adult is someone aged 18 or over who has care and support needs that make them unable to fully protect themselves from abuse, neglect, or exploitation.

Vulnerable Beneficiary Trust

A Vulnerable Beneficiary Trust is a tax-advantaged trust established in a will to provide financial support for a disabled person or bereaved child while protecting their benefits.