Glossary of Terms

Legal language can be tricky if you’re not in the know. Here’s a few of the basics to help you understand the terminology involved in making a will.

-	Beneficiary A person or charity who benefits from a gift in your will.
-	Bequest / Legacy A gift in your will.
-	Codicil A “supplement” which makes a change or addition to your will.
-	Estate The total sum of all your possessions.
-	Executor A person charged with ensuring that the wishes expressed in your will are carried out. Executors can also be beneficiaries.
-	Inheritance Tax The tax levied on your estate if worth over a certain amount currently £325,000 (as of January 2011).
-	Intestacy Dying without having left a will.
-	Pecuniary Legacy A gift of a sum of money. Suggested wording for your solicitor: “I give free of tax to the Royal Hospital for Neuro-disability, West Hill, Putney, London, SW15 3SW (registered charity number 205907) the sum of £… (words and figures) to be used for its general charitable purposes, and I declare that the receipt of their Treasurer or other proper officer shall be a full and sufficient discharge.”
-	Residuary Legacy A gift of what is left of your estate (or part of) after all debts, taxes, costs and other bequests. It can be a percentage or fraction of share of an estate – even 1% is wonderful. Suggested wording for your solicitor: “I give all (or a percentage share of) the residue of my estate to the Royal Hospital for Neuro-disability, West Hill, Putney, London SW15 3SW (registered charity number 205907) to be used for its general charitable purposes and I declare that the receipt of their Treasurer or other proper officer shall be a full and sufficient discharge.”
-	Reversionary Bequest A gift in your will that reverts to another beneficiary (such as a charity) when the original beneficiary dies.
-	Specific Bequest A gift of a particular item in your will.
-	Witness A witness to your signature on your will. A witness cannot be a beneficiary.

Click here to download a copy the glossary of terms.