Useful Terms
Plain-language definitions of the estate, legal, and end-of-life terms you’ll meet across Myend.
- AccountingThe financial term accounting may be present in a Last Will. Specifically, accounting is complementary to a Trust that you…
- AffidavitAn affidavit is a sworn statement. You may be familiar with the oral version of such sworn statements at courts,…
- Beneficiary (Definition)This refers to the person, or in some cases organization, that benefits from your Last Will. In other words, a…
- Beneficiary (Types)There are many kinds of beneficiaries. A sole beneficiary is the only individual who inherits property. Having several beneficiaries means…
- BequestA bequest, or specific bequest, is a financial and legal term. It is a set of instructions regarding a specific…
- BondA bond, or surety bond, adds a measure of accountability on the executor(s) or trustee(s). This aims to ensure that…
- CodicilA codicil is a supplement or additional paragraph of your Last Will. It alters or even revokes certain details of…
- Court of Competent JurisdictionA court of competent jurisdiction is a specialized court. In the context of Last Wills, it often refers to a…
- CremationCremation is a form of disposing of remains by burning them. It has existed since ancient times and is still…
- Digital AssetThis refers to electronic assets, such as passwords, usernames and other online account details. Moreover, they may also include digital…
- DirectiveA directive is a clause similar to a provision, a paragraph or Article of your Last Will. It usually indicates…
- EstateThis general umbrella term refers to the net worth of a person. In other words, it is the entirety of…
- Estate Administration (Definition)This refers to the way the executor distributes your estate according to your wishes. Moreover, estate administration can refer to…
- Estate Administration (Types)There are generally two kinds of administration regarding your estate, independent and dependent administration. In independent administration the executor manages…
- Executor (Definition)An executor is the person that carries out the terms that you have set up in your Will. In other…
- Executor (Types)There are many kinds of executors. A sole executor is someone who you nominate to carry out the terms of…
- FiduciaryFiduciary is a general legal term, mainly present in the expression fiduciary duty. An individual having a fiduciary duty essentially…
- GlossaryA – C Accounting The financial term accounting may be present in a Last Will. Specifically, accounting is complementary to…
- Green BurialGreen or natural burial refers to a specific burial that takes place in the most natural way possible. That means…
- Guardian (Definition)A Guardian is a person that you have nominated in your Last Will. Essentially, they have full custody – or…
- Guardian (Types)There can be many kinds of Guardians. A sole Guardian is a person who you nominate in your Last Will…
- Heirs-at-lawThese are the people that would automatically receive your property after your passing. Who are these exactly, and how they…
- Humanist CelebrantA humanist celebrant is a person that officiates non-religious rituals, including funerals. They are certified to be in charge of…
- Living FuneralA living funeral doesn’t take place for a deceased, but for a living person. Living funerals are usually for people…
- MausoleumA mausoleum is a building surrounding one or more tombs. It can be very grand such as the Taj Mahal…
- Natural PersonIn many legal systems there are two kinds of legal persons (or entities): a juridical person and a natural person.…
- No-contestDifferent countries – or even States – may have different approaches to no-contest clauses in Last Wills. Simply put, if…
- Prepaid Funeral PlanA prepaid funeral plan is a set of arrangements you usually make with a funeral home. It focuses on your…
- Probate CourtA probate court is a specific kind of court that specializes in the administration and distribution of property. Such courts…
- Probate ProcessThe probate process, or just probate, is essentially the procedure that takes place when you pass away. Specifically, it starts…
- PropertyMost Last Wills include two kinds of property: personal and real property. Personal property refers to moveable belongings, such as…
- ProvisionA provision is a clause or paragraph in a legal document or contract. In simple words, a provision in the…
- Residuary EstateResiduary estate refers to the portion of your estate that remains after certain processes are over. First off, your estate…
- Right of Disposition of RemainsThis refers to the right of a person to choose what will happen to their remains after they pass away.…
- Right of RepresentationAlso known as per stirpes, the right of representation refers to the premature death of a beneficiary. Specifically it describes…
- Right of SurvivorshipThe right of survivorship applies to an estate if there are multiple people owning it. Specifically, if there are co-owners,…
- SpouseA spouse is a gender-neutral term that refers to the person you have married. Depending on national or state laws…
- Tangible Personal PropertyTangible property refers to belongings that are not digital assets. In other words, tangible property is physical property. Additionally, personal…
- TestatorThe person that creates a Last Will is called a Testator. It is their assets and estate that the executor…
- Traditional BurialBurial is one of the most common practices of disposing of human remains. Burials, or interment or inhumation, have been…
- TrustA trust is a fiduciary relationship between a trustee and a beneficiary. That means that the person in charge of…
- Trustee (Definition)A trustee is a person who is familiar with your trust and that is going to carry its terms. A…
- Trustee (Types)A trust has always at least one trustee. There are, however, many types of trustees. A sole trustee is someone…
- Who is a good witness?There are different things you need to keep in mind when choosing a witness. Specifically, regarding who can be a…
- WillA Will has many alternative names such as Last Will and Testament or Last Will. It is a legally binding…
- Will WitnessingA Last Will’s witness is an individual that verifies the validity of your Last Will. In other words, this is…
- Witnessing a documentChoosing the appropriate witnesses to sign your Will can be crucial. A wrong choice or misplaced trust on this step…
- Witnessing Other Myend DocumentsBy asking witnesses to sign your Myend documents you are asking them to confirm that these documents are actually yours.…
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