Making preparations to ensure an estate will not be subject to more than the appropriate level of inheritance tax.

Being of sufficiently sound mind to make a Will.

Someone who has made a Will. A female testator is sometimes referred to as a 'testatrix'.

A legal mechanism for money or property from an estate to be held on behalf of a beneficiary or group of beneficiaries.

In general terms, a trust corporation is a corporation set up to carry on trust business. In practice, they are often banks and financial institutions but can also be charities or legal firms. There are technical requirements that a corporation must satisfy to be a trust corporation. Trust corporation status confers certain legal advantages, for example, acting as Court of Protection deputies and attorneys.

Any land, buildings, money or other assets that are held in trust.

A person who has been appointed to manage a trust on behalf of the named beneficiaries or potential beneficiaries. They are responsible for ensuring the terms of the trust are followed correctly and for making decisions about when or how the contents of the trust are distributed.