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Glossary for Being an Executor

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{{Being an Executor}}
; Estate Administratorestate administrator:The person who applies to andis appointed by the court to takecharge of an estate, in accordancewith the Estate AdministrationAct. This can occur when there isno valid Will, or if there is a Willand no executor is named or ableto take charge of the estate.
;Affidavitsaffidavits: A written statement that containsimportant facts you want thejudge in court to know about.
;Assetsassets: What you own. Assets caninclude things such as money,land, investments, and personalpossessions such as jewelry andfurniture.
;Beneficiarybeneficiary: A person who, under the termsof the Will, receives a benefit, aspecific item or sum of money, alife interest in the assets of theestate or a share of the residue.
;Bondbond: A bond insures the value of theestate.
;Debtsdebts: What you owe. Also calledliabilities. At death, these mayinclude credit card balances,loans, and mortgages.
;Estateestate: All of the property and belongingsyou own at your death. The estatedoes not include property youown with someone else in jointtenancy, or joint bank accounts.The estate does not includeinsurance policies, RRSPs or RRIFs,or other things you own whichspecifically name someone as yourbeneficiary.
;Executorexecutor: The person you name in your Willwho is responsible for managingyour estate and for carrying outthe instructions in the Will.
;Intermeddledintermeddled: To interfere in the affairs ofothers. Particularly with theassets or liabilities of thedeceased.
;Probateprobate: A legal procedure that confirmsthe Will can be acted on andauthorizes the executor to act.Residue The part of an estate that is leftafter the payment of charges,debts, and bequests.
;Trustresidue: A The part of your an estate that is set upto ensure ongoing income for abeneficiaryleft after the payment of charges, debts, usually a dependentchildand bequests.
;Trusteetrust: The person or company youname A part of your estate that is set up to manage ensure ongoing income for a trustbeneficiary, usually a dependent child.
;Willtrustee: The person or company you name to manage a trust. ;will: A document, conforming to therequirements of British Columbialaw, that contains directions forthe disposal or distribution of aperson’s assets after his or herdeath.  {{REVIEWED | reviewer = [[People's Law School]], 2014}} {{Being an Executor Navbox}} {{Creative Commons for PLS|title = Workplace Bullying and Harassment|author = }}__NOGLOSSARY__
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