Administrator: Person/s appointed by the Supreme Court via Letters of Administration to deal with the Estate of the deceased when he or she has passed away without a Will (intestate).
Beneficiary: A person who is entitled to receive a benefit from a deceased person’s Estate.
Certified Copy: A certified copy is a copy of an original document such as a death certificate that has been certified by a prescribed person as being a true copy of the original document. Examples of a prescribed person are a Justice of the Peace or a Solicitor.
Death Certificate: A certificate issued by the Registry of Births, Deaths and Marriages containing the information registered when someone passes away, including the date, place and cause of death.
Estate: Property, assets and debts of a person who has died. When a person has passed away, an appointed Executor or Administrator holds the deceased Estate in trust until the Estate is finalised and the property and assets are transferred to the beneficiaries.
Estate Representative: If there is a Will then the Estate Representative will be the Executor/s. If there is no Will then the Estate Representative will be the Next of Kin unless Letters of Administration is required whereupon the Supreme Court will appoint an Administrator. Please note that if a Solicitor has been appointed, all communication will be via the Solicitor.
Executor/s:Person/s named in a Will who take charge of the deceased’s assets and property, ensuring all expenses (funeral costs, debts or any outstanding invoices) are paid and distributing the remaining assets to the beneficiaries in accordance with the Will.
Grant of Probate: A document issued by the Supreme Court that confirms the validity of a Will, and authorises the Executor/s to act.
Intestate: The scenario when an individual has passed away without leaving a valid Will.
Letters of Administration: A document granted by the Supreme Court giving authority to a person (called an Administrator) to collect and distribute the assets of the Estate, in the absence of a valid Will.
Next of Kin:The closest living relative of the deceased.
Probate: The process of proving and registering in the Supreme Court the last Will of the deceased. When a person dies, someone has to deal with their Estate. Probate provides authority for the Executor/s named in the Will to deal with the assets and debts of the Estate.
Signatory: A person who is authorised to sign on an account on behalf of a deceased Estate and will provide instructions to IMB. This includes:
- Administrator
- Executor
- Next of Kin
Testate:The scenario wherein an individual has passed away, leaving a valid Will.
Will: A legal document outlining the deceased’s directions for the distribution of the Estate and appointing a party(s) to carry out those wishes.
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