Here are some terms you might come across - and their plain English meanings. If there's anything else you'd like explained, please get in touch. We'll be happy to help.
Administrator/s
The person or organisation who administer an estate. If the Will names Executors, they will do this. If not, the court can appoint administrator/s.
Affidavit
A sworn statement that is to be filed in court. The person making the affidavit must swear on the Bible, or another holy book. If you prefer, you can sign an affirmation which means you don't have to swear on the Bible. When applying for probate or Letters of Administration, the Executor or administrator must complete an affidavit (or affirmation) to say they will administer the estate in accordance with the law. An affidavit, or affirmation, must be witnessed by a Justice of the Peace officer, lawyer or court official.
Beneficiary
A beneficiary is a person, charity, organisation or trust that will benefit from an estate or trust, either through the will or if there is no will, under the Administration Act 1969.
Bequest (also known as gift in a will)
A bequest is a gift you leave to a person, charity or organisation in your will. It can be money, property or a treasured item, allowing you to continue supporting the people and causes that matter to you after you're gone.
Distribution
A distribution is a payment made or an asset transferred to a beneficiary from an estate or trust.
Enduring power of attorney (EPA)
An enduring power of attorney (EPA) is a legal document allowing you to choose someone you trust to make decisions on your behalf if you are no longer able to make them yourself. There are two types of EPA: one for your property and finances, and one for your personal care and welfare.
Estate
An estate is made up of everything a person owns in their own name when they die. Any jointly owned assets do not ordinarily form part of a person’s estate, as this usually passes to the surviving owner automatically.
Executor
An executor is the person or organisation you choose to carry out your wishes in your will. They are responsible for obtaining the legal authority from the court to manage your estate, paying any debts and expenses, and distributing your assets to the people or organisations you have chosen to benefit.
Grant of administration
The court's approval giving the Executor the right to deal with the estate. The most common form of grant of administration is probate. Where there is no Will, the grant of administration is called 'Letters of Administration'. If there is a Will, but no Executor, then the grant is called 'Letters of Administration'.
Guardian
Someone who will look after a child's welfare when their parents can't. Guardianship ends at the age of 18. You can name a guardian for your children in your Will - that's called a 'testamentary guardian'.
Intestate
Dying intestate means a person dies without a valid will. When this happens, their estate is distributed according to New Zealand law rather than their personal wishes. Having a will can give you confidence you’ve made your wishes clear to friends and family.
Legacy
A gift in a Will (often, but not always, a gift of money).
Letters of Administration
Letters of administration is a legal document issued by the High Court giving someone the authority to administer and settle a person's estate when there is no valid will, or when the named executor is unable or unwilling to act in this role.
Letters of wishes
A written summary of goals and objectives for your Executors and trustees. It can also be known as a 'Memorandum of Wishes' or a 'Note for Guidance for Trustees'.
Power of Attorney
A document which names a person or organisation that may sign documents or make decisions on your behalf. A simple power of attorney is cancelled if you are no longer mentally competent but an Enduring Power of Attorney (EPA) remains in force if you become mentally incapacitated.
Probate
Probate is a legal document issued by the High Court that confirms a will is valid and gives the executor authority to manage and settle the person’s estate.
Resealing
If the estate includes assets in another Commonwealth country, the New Zealand probate or letters of administration can easily be resealed by the court in that country and this gives authority to deal with those assets. A whole new grant of probate is required in other countries such as the USA.
Special Trust Advisor
Usually appointed to provide advice to the Executors and trustees. An advisory trustee is not a legal trustee, but the trustees may rely on this advice.
Testamentary
Anything relating to or covered by a Will. Your testamentary intentions are what you intend to achieve by signing your Will.
Will
A will is a legal document that records your wishes for what you’d like to happen after you die. It lets you decide who receives your money, property and belongings, who will manage your estate and name a testamentary guardian for any young children, helping make things easier for your loved ones during a difficult time.