Common terms used in wills

 

Here are some common terms used in New Zealand wills:

  • Beneficiary

A person, organisation, trust, or charity that receives a benefit from the will 

  • Estate

Everything the deceased owned at the time of death that can be distributed by the will 

  • Probate

The process of obtaining the High Court's confirmation that the will is authentic and can be used to divide the estate 

  • Administrator

The person appointed to administer the estate if the deceased died without a will, or if the executor clause in the will is invalid 

  • Intestate

This is the term for used when some has died without leaving a legally valid will 

  • Codicil

An addition or supplement that can explain, modify, or revoke a will or part of it.  These are seldom used nowadays.

  • Executor

Responsible for locating the will, following the will's instructions, collecting assets, and distributing the remaining assets 

  • Bequest

A gift made to a person or organisation in the will, usually a specific item or amount of money