Jargon & Technical Terms

Beneficiary

A person who derives advantage from something, especially a trust, will, or life insurance policy

Enduring Power of Attorney

An EPA is a legal document that was used before 2007 to allow someone to make decisions about a person's property and finances.  An EPA cannot be used for Health & Welfare.  EPA's were replaced in October 2007.

Executor

As a personal representative (an executor or administrator) you're legally responsible for the money, property and possessions of the person who died

Guardian

In the context of family law, a person who has been appointed to care for a child where both parents or a person who holds parental responsibility by virtue of a child arrangements order or special guardianship order have died.

Lasting Power of Attorney

An LPA is a legal document that enables an individual (the Donor) to appoint one or more people (Attorney's) to make decisions on their behalf in respect of Health and Welfare & Property and Financial

Testator / Testatrix

Testator means a 'man who made a Will' and testatrix is a 'woman who made a Will'.

Trust

A Trust is a legal arrangement where a person (the Settlor) gives another person(s) (the Trustees) the right to manage assets for the benefit of a third person(s) i.e. the Beneficiaries. Trusts can be used to protect assets, reduce taxes, and ensure assets are distributed according to the Settlor's wishes. 

Trustee

A Trustee is a person who takes responsibility for managing money or assets that have been set aside in a trust for the benefit of someone else.

Will

A legal document in which the Testator or Testatrix declares their intention as to what should happen to their estate after their death.