fp_retirement
 
Financial Planning in the Event of Death
By Dr. Zaleha Kamaruddin

Glossary of Terms

administrator person appointed by the court to administer the deceased estate where the deceased has died without a will or where the deceased has left a will but there is no executor
beneficiary person who is entitled to receive gifts under a will
bequeath leave personal property to a person by will
donee person receiving a gift
donor person making a gift
estate all of a person’s assets and liabilities at death
executor person appointed in a will to administer the testator’s property and to carry out the provisions of the will e.g. obtain the Grant of Probate and distribute the estate
gift inter vivos transfer of a property between living persons
gift voluntary transfer of property without any consideration or compensation
immovable property land and property attached to the land
intestate a person who dies without making a will
issue legitimate children
Letters of Administration the authority given under the seal of the court for the administration of an estate of a person who has died without leaving a will.
movable property personal property that is movable (cf. immovable property)
spouse husband or wife
testamentary gifts gifts made by the donee in a will which only takes effect upon the death of the donee and the execution of the will
testacy person makes a will before dying(opposite of intestacy or dying intestate)
testator person who makes a will
trustee person who holds property in trust for a beneficiary

Related Topics:
Property Disposable by Will
Testacy and Intestacy (non-Muslims)
Distribution of Non-Muslim Estates
Succession of Estates for Muslims
Distribution of Muslim Estates
Gifts

 

Dr. Zaleha is an associate professor at the Ahmad Ibrahim Kulliyyah of Laws, International Islamic University Malaysia