Getting A Will - Made Easy
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Glossary
- Beneficiary
- Civil Partner
- Civil Partnership
- Childrens' Trusts

- Codicils
- Estate
- Executor
- Inheritance Tax
- Inheritance tax threshold
- Intestate
- Mirror Will
- Single Will
- Testator
- Testatrix
- Threshold
- Trusts
- Vesting Age
- Will
Beneficiary - a person who is left something in the Will
Civil Partner - a registered partner, normally a 'same sex' partner
Civil Partnership - an official registered relationship between two people of the same sex, which gives them the same legal rights as two people who are married
Childrens' Trusts - if your child or children are under 18 the money or property they have been given is held in 'Trust'. The 'Trustees' manage the money on their behalf until an age set by you. A Will allows YOU to decide who manages the Trust and at what age the children take ownership.
Codicils - document making changes or additions to a Will
Estate - all of someone's property or money
Executor - someone who deals with the administration of the will. They do the paperwork.
Inheritance Tax - A tax on the value of a person's estate on death and on certain gifts made by an individual during their lifetime. The current rate of tax is 40%
Inheritance tax threshold - the inheritance tax threshold is the amount above which inheritance tax becomes payable. If the estate, including any assets held in trust and gifts made within seven years of death, is less than the threshold, no inheritance tax will be due on it. The current threshold is £325,000
Intestate - to die without having made a Will
Mirror Will - a pair of Wills for a couple
Single Will - a Will for an individual
Testator - a man who has made a Will
Testatrix - a female who has made a Will
Threshold - the value an 'Estate' is worth before inheritance tax is payable.
Trusts - money held on behalf of a person
Vesting Age - the age the person will inherit their share
Will - a legal document saying who you want your money and property to go to when you die