Need to brush up on your legal terminology? Here we have created a full glossary of the legal terms you’re likely to come across during the process of working with us.
Administration of the estate
The process of gathering information relating to the assets and debts of the person who has died, handling all outstanding debts and distributing whatever assets remain as per the Will or Intestacy Rules.
A personal representative of a person who has died intestate.
An official alteration to a Will.
Court of Protection
An office of the High Court that has the power to make decisions about the property, financial affairs, healthcare and general welfare of individuals who don’t have the mental capacity to do so themselves, usually by appointing a Deputy on their behalf. The court is also able to decide whether or not an elderly individual still has the capacity to make their own decisions.
Everything that belongs to a person (including money in bank accounts, property and personal belongings) along with all their debts.
A personal representative who has been appointed in a Will to deal with the administration of the estate.
Grant of Representation
A collective term used to refer to both Grants of Probate (in cases where there is a Will) and Grants of Administration (in cases where there isn’t a Will).
A tax payable on death which is levied on the value of a person’s estate.
The law that governs how a person’s estate is administered when there is no Will.
When a person dies without having made a Will.
Lasting Power of Attorney (LPA)
A Lasting Power of Attorney (LPA) is a legal document that allows an individual to appoint someone else (or a group of people) to make decisions on their behalf once they are no longer able to.
Mental Capacity Act 2005
The Mental Capacity Act 2005 applies to anyone in England or Wales who is involved in the care, treatment or support of an individual who is unable to make some or all decisions for themselves. This will apply to you if you are an Attorney under a relative’s Lasting Power of Attorney. In this case you will have to agree to abide by the principles of the Mental Capacity Act.
Nil Rate Band
The threshold above which inheritance tax needs to be paid.
A legal document issued by the Probate Registry confirming that the Executors have the authority to deal with a person’s estate.
Residence Nil Rate Band
An additional threshold that can be added to the Nil Rate Band, if the person who has died and their estate meet the qualifying conditions.
The Care Act 2014
This act replaced much of the existing legislation on adult social care. It covers a wide range of things that affect elderly people, their families and carers. This includes the role of local authorities, how care needs are assessed, standards of care, and the safeguarding of elderly and vulnerable people.
The Office of the Public Guardian
An executive agency sponsored by the Ministry of Justice that protects people in England and Wales who don’t have the mental capacity to make decisions for themselves.