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 MISC
Inheritance
  Tax World
Probate
The legal process of establishing the validity of a will and settling an "estate".

Estate
Everything you own - usually assets minus debt

Executor
The person appointed by a "testator" to implement the terms of the will

Testator
The deceased person

Legacy
A gift left by the deceased person on death

Trust
A legal relationship where property is transferred/managed by a third party for the benefit of another person

Will
A document in which the deceased declares how his/her estate should be distributed upon death

Intestate
To die without leaving a will.

Codicil
A written amendment to a will.

Beneficiary
Someone who benefits from a will or trust



 
Note: This inheritance tax information site does not constitute legal advice.