Glossary of will terms
Choosing the right company for your will writing needs might seem an easy task. However, in reality, it would be relatively elusive and hard to know which would really be worth your money and efforts in the long run.
It would be pertinent to mention here that you should be searching for professional and reliable will writing company that would be able to assist you in your will writing needs. They should be one of the finest in business. They should make sure that will-writing has been made simple for you. They should not be charging highly for their services. In addition, they should look forward to providing you with secure and free storage. Their aim should be to value openness, honesty, social responsibility and care for their clients. These aspects should be the core of the services offered by them.
The need for making a will
In case, you wonder whether you would be requiring a will or not, you should read on. Foremost, let us delve on the meaning of will. It would be best described as a legal document that would help you dictate your wishes to happen to your respective assets. It would be inclusive of money, property, possessions, children and investments. In would be used in event of your death. It would be important for the information of the family members on how to distribute the assets without resorting to litigation. In event of you dying without making a will, chances are higher that the family members would be at each other’s throats for claiming the left behind property.
Essential things to consider for making a will
Making a will has been deemed essential, as it would help in the prevention of scenario arising, such as disputed over inheritance. You would have across these typical situations where individuals would resort to the court for inheriting specific investments or assets from their blood brothers or sisters. In order to prevent such incidences, you would be required to prepare a will and bestow the respective possessions to your loved ones and children according to your desires.
What to consider when writing a will
The will should include a glossary of will and legal terms. It is a vocabulary written in alphabetical order for a specific domain along with the definition of the mentioned terms. Usually, the glossary would be placed in the end mentioning newly introduced, specialized or uncommon terms.
What kind of terms added to the will glossary?
The will glossary would entail legal terms that a common person may not be conversant with. Therefore, the will writing company should make it a point to add a glossary on their website for the people to understand specific terms mentioned on the will written by the company.
In order to write a glossary, you would be required to identify the terms in the primary text that would be a requisite into the glossary. Hereafter, you would be required to create definition, for the mentioned terms while ensuring the formatting of a glossary is appropriate and correct. It should be easy and convenient to read.
Some of the common words that will glossary should comprise have been given as below.
It implies distribution and management of estate of deceased, authority to conduct the act granted by the court. In event of no will have been made by the deceased or will turn out to be invalid, the court would issue letters of Administration whereby appointing one or more people for administering the estate of the deceased.
It would mean the payment or annual income of a fixed amount. The amount would be taken from an investment of capital. The capital would not be repayable.
It implies to specify a certain person or thing for performing an act.
It would be best described as a right belonging to a specific property given to a particular person or persons.
It implies the amount of payment in arrears.
It would imply an individual who would be receiving a gift from a will.
It implies a specific right to a property for a specific person or people in a will.
It would imply a particular legacy to a specific object in the UK region. In other parts of the world, it would imply a kind of legacy.
It implies any kind of property that is other than freehold property. It would be divided into real chattels implying leasehold interests and personal chattels implying movables such as cattle, China, plate and more.
The matters of will would entail adopted and illegitimate children of a specific person who has been deceased, but it would not be inclusive of the stepchildren. However, if the stepchildren have been specifically mentioned, it would take into its ambit stepchildren as well. Several legacies would often be entrusted to the children until they attain the age of 18, 21 or 25 instead of the legal stipulation of 16 years.
The deed would be best described as an instrument, mostly a document, understanding the specific terms of contract along with evidence of its date of execution.
It implies buildings.
It implies property, specifically a landed property such as personal estate, real estate. It would also mean the assets of the person along with liabilities taken in a collective manner.
It implies a bar for preventing a person from making allegation or denial that would disagree with what one has stated previously to be true.
It implies any person to whom the property in question would be given under possession after the death of the present holder. The heir would be the male person, whereas the heiress would be female.
It implies a person dies without making a will.
The aforementioned and several other terms have been listed in the glossary for will. However, it would be pertinent that Will writing company ensures they mention every specific word in the glossary that appears alien to a common person. It would help them understand the will in a proper manner.