Introduction to Wills Glossary
Master the language of will and estate planning with this easy-to-navigate A–Z reference
- Administrator – A person appointed by the court to manage and settle an estate when the deceased did not leave a valid Will; carries out duties similar to an executor but without the benefit of the deceased’s written instructions.
- Asset Distribution Plan – The section of a Will that outlines how a person's property and financial assets should be divided among beneficiaries after death.
- Bequest (Updated or Specific) – A particular gift named in a Will or codicil, such as an item of personal property or a cash amount, which can be modified using a codicil.
- Beneficiary Designations (Estate Context) – Named individuals or organizations who will receive specific financial assets (such as insurance or investments); these designations should align with the Will to avoid conflicts.
- Codicil – A legally binding document used to amend, add to, or revoke specific provisions in an existing Will without rewriting the entire document; must be signed and witnessed like the original Will.
- Contingency Beneficiary Plan – Instructions in a Will outlining who should receive a gift if the original beneficiary predeceases the testator.
- Digital Assets – Online accounts, files, and content with financial or sentimental value, such as email accounts, cloud storage, cryptocurrencies, or digital photos, which can be addressed in a Will.
- Estate Intestacy – The legal situation that arises when a person dies without a valid Will; provincial laws determine how the estate is distributed, often leading to unintended outcomes.
- Executor – The person appointed in a Will to administer the estate, carry out the deceased’s instructions, and ensure all legal and financial obligations are met.
- Executor Appointment – The section of a Will where the individual(s) responsible for administering the estate is named.
- Executor Replacement – The act of naming a new executor in a Will when the originally designated person is no longer able or appropriate to serve, ensuring clear and current estate administration.
- Formal Will – A written Will that is signed by the testator in the presence of two witnesses; the most commonly used and legally secure form of Will, allowing for executor appointments, guardianship designations, and detailed asset distribution.
- Group Gifts – Asset distributions that apply to a category of recipients, such as “all children” or “all grandchildren,” often used for equal division of estate components.
- Guardianship Provisions – A part of the Will that designates who will take care of the deceased’s minor children or dependants.
- Heirlooms – Personal items of sentimental or historical value that may be specifically gifted in a Will to ensure they are passed on according to the deceased’s wishes.
- Holograph Will – A handwritten Will created and signed entirely by the testator without witnesses; valid only in certain provinces and subject to strict handwriting and signature requirements.
- Intestacy – The legal condition of dying without a valid Will, resulting in the distribution of an estate according to provincial statutory laws rather than the deceased’s personal wishes.
- Intestacy Laws (Canada) – Provincial rules that govern estate administration and inheritance when a person dies without a valid Will, often distributing assets to legally recognized family members based on a fixed hierarchy.
- Introductory Clause – The beginning of a Will, where the testator identifies themselves and revokes all previous Wills to avoid legal confusion.
- Keepsakes – Personal, sentimental items with emotional value, like jewellery or family heirlooms, that can be specifically bequeathed in a Will.
- Last Will and Testament – A legal document that outlines how a person’s assets should be distributed, who should administer the estate, and other personal instructions, taking effect upon death.
- Legal Defaults (Estate Context) – Standardized legal decisions made by the courts in the absence of a Will, including estate administration, asset distribution, and guardianship assignments.
- Life Milestones (Estate Context) – Significant events such as marriage, childbirth, property purchase, divorce, or business ownership that often require the creation or update of a Will.
- Military Will – A special type of Will recognized for members of the armed forces during active service, often subject to relaxed legal formalities due to operational circumstances.
- Notarial Will (Quebec) – A Will created and signed before a notary and one witness, legally valid in Quebec; does not require probate, offering high legal efficiency and protection.
- Online Will / Will Kit – A digital or template-based Will completed independently; may be legally valid if executed correctly but must meet provincial standards for signing and witnessing to be enforceable.
- Outdated Will – A Will that no longer reflects a person’s current relationships, assets, or intentions; can be legally problematic and lead to unintended consequences.
- Personal Information Clause – The section of a Will that identifies the testator and revokes all previous Wills to ensure legal clarity.
- Probate (Codicil Context) – The legal process of validating a Will and any attached codicils; multiple or unclear codicils can complicate probate and estate administration.
- Provincial Estate Laws – Laws that govern how assets are distributed when someone dies without a Will; vary by province and may not reflect the deceased’s personal wishes.
- Residual Clause – The portion of a Will that covers all assets not specifically mentioned elsewhere, ensuring nothing is unintentionally omitted.
- Residual Estate Clause – A section in a Will assigning all remaining assets not otherwise specified to a designated beneficiary.
- Shared Property (Estate Context) – Assets jointly owned with others that may require specific instructions in a Will to avoid conflict or unintended outcomes.
- Signature and Witnesses – A requirement for legal enforceability of the Will, ensuring it meets provincial or territorial standards through proper signing and witnessing procedures.
- Special Requests (Will) – Non-financial wishes included in a Will, such as funeral arrangements, personal messages, or charitable bequests.
- Specific Bequest – A particular item or amount of money left to a named individual or organization in a Will.
- Statutory Inheritance Formula – A predefined order and proportion by which provincial law distributes an estate among surviving relatives when no valid Will exists.
- Testator – The individual who creates and signs a Will, stating their final wishes regarding asset distribution and other personal matters.
- Will (General Definition) – A legal document used to direct the distribution of a person’s estate after death, name an executor, and express personal wishes.
- Will Amendment – A formal change to a previously executed Will, typically made using a codicil; allows updates without creating a new Will, but must meet legal formalities to remain valid.
- Will Review Frequency – The recommended interval for reviewing and potentially updating a Will, typically every 3 to 5 years or after significant life changes.
- Will Update Triggers – Life events such as marriage, divorce, births, deaths, relocation, or major asset changes that necessitate revisions to an existing Will to maintain relevance and clarity.