Probate & Estate Administration Glossary of Terms

The process of distributing assets and funds to beneficiaries of the deceased’s estate, either as documented in the will or by following the rules of intestacy.

Someone who is appointed when executors are not named in the will or if a named executor does not want to be responsible for the probate process. The administrator can also be the next of kin (under the intestacy rules) where the person has died without making a will.

A generic term for everything that the deceased owns, including property, shares, money, goods and chattels.

A person who receives assets that have been left to them through a will or by the rules of intestacy.

A written statement that makes changes to the existing will.

People or businesses to whom the deceased owes money.

People or businesses who owe the deceased money.

A legal document that enables adult beneficiaries to make changes to the will, even after the death of a person.

All the assets owned by the deceased, including property, stocks and shares, money, goods and chattels.

Financial accounts that document what monies have been received, and paid, by the estate. The estate accounts also identify what assets and funds have been, or are now due to be, paid to the beneficiaries.

A person identified in the will to administer the deceased’s estate.

The legal document that is produced following the grant of representation that enables the personal representatives to administer the estate, such as selling or transferring property, accessing bank accounts, calculating and paying what tax is due, identifying what debts are outstanding and what money is owed, and distributing the estate.

Personal items, excluding land and buildings, owned by the deceased.

Tax paid to HMRC where the value of the deceased’s estate is above the current inheritance tax nil rate band.

When a person dies without leaving a will.

The grant given to personal representatives to administer the estate in the absence of a valid will or executors.

Where the deceased’s property and assets are sold to generate money to pay taxes, creditors and to distribute to the beneficiaries.

The deceased’s closest living relative(s).

A general term given to executors or administrators who are responsible for the probate process.

The legal and financial process that occurs following a person’s death. Sometimes referred to as “administering the estate”, probate deals with the deceased’s property, finances and personal belongings.

The legal process of confirming the entitlement of the personal representatives to take out the grant and confirming that they will administer the estate in accordance with the law. It also provides details of the deceased and confirms the value of the estate that the personal representatives will administer.