Roles in a Will Glossary 

Alternate Executor – A backup person named in the Will to serve if the primary executor is unable or unwilling to act.

Backup Executor – An alternate individual named in the Will to act as executor if the primary choice is unable or unwilling to fulfill the role.

Backup Guardian – An alternate person named to assume guardianship if the primary guardian is unavailable or unwilling to serve.

Beneficiaries – The people or organizations who receive your assets, gifts, or property as outlined in your Will.

Beneficiary Designation – The legal act of naming specific individuals, organizations, or institutions to receive assets through a Will or other estate planning documents.

Beneficiary Expectation – Common beliefs or assumptions beneficiaries may have about timing, transparency, and control during estate settlement.

Beneficiary Review – The process of periodically reassessing and updating the people or organizations named in your Will to reflect current relationships and intentions.

Beneficiary Rights – Legal entitlements of a beneficiary, such as the right to be informed, receive relevant sections of the Will, and obtain their inheritance within a reasonable timeframe.

Conflict of Interest – A situation in which an executor's personal or financial interests may interfere with their ability to act impartially in managing the estate.

Contingent Beneficiary – A backup individual or organization designated to receive a gift if the primary beneficiary is unable or unwilling to accept it.

Divided Guardianship – A structure where different individuals are appointed to manage separate aspects of a child’s care, such as daily caregiving versus financial or legal oversight.

Estate Administration – The process by which the executor manages and distributes the assets of the deceased according to the Will and applicable laws.

Estate Administration Costs – Expenses related to settling an estate, including executor compensation and professional service fees, typically paid from estate assets.

Executor – The person named in a Will to administer the estate, carry out the deceased’s wishes, and manage the legal and financial process of settling the estate.

Executor-Beneficiary – A person who is both named to administer the estate and entitled to receive an inheritance under the Will.

Executor-Beneficiary Conflict – Disagreements or misunderstandings that may arise between executors and beneficiaries, often due to delays, communication issues, or unclear instructions.

Executor Compensation – Payment made to an executor for managing and settling the estate, typically calculated as a percentage of the estate’s value.

Executor Duties – Core responsibilities of the executor, including locating the Will, securing assets, paying debts and taxes, and distributing the estate.

Executor Liability – The legal responsibility executors hold for properly administering the estate, including potential personal consequences for errors or mismanagement.

Executor Powers – Legal authorities granted to an executor, such as accessing accounts, selling property, hiring professionals, and managing the timing of estate tasks.

Executor Responsibility – The legal and administrative tasks an executor must complete, including securing the Will, applying for probate, paying debts, and distributing assets.

Fee Transparency – The practice of clearly outlining executor compensation and related expenses to avoid conflict or confusion with beneficiaries.

Financial Guardian – A person responsible for managing funds or inheritance left for a child’s benefit, which may be different from the legal guardian providing daily care.

Good Faith – A legal expectation that the executor will act honestly, fairly, and in the best interest of the estate and its beneficiaries.

Guardian Appointment – The formal process of naming a legal guardian in a Will to care for a minor child or dependant if the parent is no longer able.

Guardian Dispute Resolution – Instructions in a Will outlining how joint guardians should resolve disagreements, helping to prevent conflicts and ensure consistent decision-making.

Guardian Structure – The specific way multiple guardians are appointed and organized in a Will, including roles, responsibilities, and succession plans.

Guardians – Individuals appointed in your Will to care for your minor children or legal dependants if you are no longer able to do so.

Guardianship – The legal authority and responsibility to make decisions for the care, upbringing, and welfare of a child or dependant.

Guardianship Planning – The process of selecting, documenting, and coordinating the appointment of a legal guardian in a Will, often in conjunction with financial and custody arrangements.

Guardianship Review – The periodic reassessment of guardian choices in a Will, especially after major life changes.

Intestacy – The legal situation that arises when a person dies without a valid Will or without naming beneficiaries for all assets; provincial laws determine how the estate is distributed.

Intestacy Rules – Provincial legal formulas used to determine who inherits when no valid beneficiary is named, often prioritizing spouses, children, and other close relatives.

Joint Guardians – Two individuals appointed to share legal guardianship responsibilities equally, typically raising the child together and making decisions jointly.

Legal Guardian – An individual appointed in a Will to assume parental responsibilities for a minor child or dependant if the parent(s) are deceased or unable to care for them.

Legal Guardianship Statement – A clearly worded declaration in a Will that identifies the intended guardian and any backup choices, ensuring recognition by the court.

Letter of Explanation – A non-binding document that provides context for guardianship decisions, often included alongside a Will to guide future caregivers or the court.

Memorandum or Letter of Intent – A non-binding document used to clarify the testator’s wishes and reduce misunderstandings among beneficiaries.

Probate – The legal process through which a Will is validated by the court, and an executor is formally recognized to act on behalf of the estate.

Professional Executor – A lawyer, accountant, or trust company appointed to act as executor, typically used for complex estates or when no personal choice is suitable.

Professional Support – Legal, tax, financial, and administrative services that executors can engage to help fulfill their duties.

Residual Estate – The portion of an estate that remains after all debts, taxes, and specific gifts have been distributed to beneficiaries.

Role Conflict – A potential issue when one person holds both executor and beneficiary roles, especially if estate distributions are unequal or contested.

Shared Parenting Values – A consideration when choosing a guardian, ensuring alignment in beliefs, routines, and decision-making styles.

Specific Bequest – A gift of a particular item or a fixed amount of money left to a beneficiary in a Will.

Successive Guardians – A primary guardian named in a Will, followed by one or more alternate (backup) guardians who step in if the primary is unable or unwilling to serve.

Unequal Gifts – Situations in a Will where beneficiaries receive different amounts or types of inheritance, which may increase the risk of disputes when the executor is also a major beneficiary.

Will Challenge – A legal action taken by a beneficiary or other party to dispute the validity or terms of a Will under specific legal grounds.