Estate Legalese

Estate Legalese

Estate Legalese

  • Administration – Letters of administration that have been issued by the courts in terms of the estate of a deceased person is to authorize the person or person named to administer the deceased person’s estate in accordance with the law.
  • Administrator – Administration that is granted to a person of the male gender.
  • Administratrix – Administration that is granted to a person of the female gender.
  • Beneficiary – A beneficiary is basically a person who under any will of a deceased person that is beneficially interested in the estate of that particular person that has passed away and if the effect of the pronouncement would cause the estate to devolve to become an intestacy or in order to prevent from devolving, a person that is under the law relating to intestacy is beneficially interested in the estate.
  • Domicile – Domicile basically refers to the place that is considered to the place of permanent residence or a place where a person is presumed to be a permanent resident.
  • Execution – Making legal documents into valid legal instruments by properly signing them is the act known as execution.
  • Executor – The executor refers to person of the male gender who has been appointed by the testator to execute the last will of the deceased person. This person has been confided to by the testator and will be deemed as the appointed executor in terms of the settled land.
  • Executrix – The executrix refers to person of the female gender who has been appointed by the testator to execute the last will of the deceased person. This person has been confided to by the testator and will be deemed as the appointed executor in terms of the settled land.
  • Gross value – The gross value that is mentioned in these terms refers to the total value of that particular estate which excludes expenses such as testamentary or funeral or debts such as a mortgage. So for example, if a person owns a certain piece of property that is worth about RM280, 000 and there is also the mortgage of RM180, 000. The gross estate is worth RM280, 000 while the net value is RM100, 000.
  • Guardian – A guardian is basically a person that has been appointed by the Court of the testator to look after a minor’s assets until they have reached the legal age of 18 to manage the assets by themselves. Under Section 3 of the Guardianship of Infants Act 1961, the guardian which has been appointed will have legal rights to the custody of the particular child as well as be responsible for their education, support and health.
  • Issue – The terms issue here refers to the children and the descendants of the deceased children.
  • Lex Situs – The law of the place where the particular property is located is called the Lex Situs.
  • Personal Chattels – Personal chattels basically refers to horses, motor cars and the accessories that goes along with it, linen, plated articles, glass, books, jewellery, articles of household or of personal use, liquors, consumable products, domestic animals, stable furniture and effects, garden effects, plate, china, pictures, prints, furniture, scientific and musical instruments or apparatuses, wines, however it does not encompass any of the chattels that were used at the death of the intestate for business purposes, nor does it include money or securities for money.
  • Personal Representative – Whether the executor is the original one by representation or administrator, they shall be considered as the personal representative of the deceased person at the time of their death. This person who takes the possession of or inter-meddles with the property of a deceased person without the authority of the personal representatives or by the Court will have to be responsible for any of the liability in regards to the payment of the death duties.
  • Receiver – The receiver is a trust corporation or anyone else that has been appointed by the Court to administer the estate of the deceased person.
  • Representation – This refers to the probate of a will as well as administration.
  • Testator – The testator is the person that makes the will, they need to be at least 18 years of age and should also be sound of mind. These requirements are exempted if that particular person is a soldier in actual military service or a mariner of a seaman that is serving in the sea.
  • Witness – A witness is basically a person who will attest to the testator’s signature or acknowledge the signatures and the signs that are located on the will in the presence of the testator. It can also be a witness that have already signed the will before the testator and acknowledges their signature in the presence of the testator.

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