ABATEMENT

The failure of a bequest due to insufficient assets after debts.

ADEMPTION

The failure of a specific bequest because the bequest no longer exists.

ADMINISTRATION

Collection of estate assets of the deceased, payment of outstanding debts and distribution of the remaining estate to the beneficiaries.

ADULT

In Alberta, an adult is a person 18 years of age or older.

BEQUEST

A gift in a Will.

BENEFICIARY

A person entitled to receive a share of the estate.

CODICIL

A document that changes an existing Will.

EXECUTOR

An executor is the person named in a Will to administer the estate of a deceased person.

GRANT

A grant is a document issued by the Court:

• confirming the Will and appointing the personal representative, or
  
• appointing a personal representative if there is no Will.

The Grant gives the personal representative authority to administer the estate.

IN SPECIE

a phrase used to describe the situation where assets are distributed in their existing form rather than being sold and distributed as cash.

INTESTATE / INTESTACY

To be intestate or intestacy is when a person dies without a Will.

LAPSE

Lapse is the failure of a specific bequest because the beneficiary predeceased the testator.

LEGATEE

A legatee is a beneficiary of a specific bequest.

MINOR

In Alberta, anyone under the age of 18 including an unborn child is considered a minor.

NEXT-OF-KIN¹

• the spouse or children of the deceased person, or
  
• relatives of the deceased person entitled to share in the estate, if there is no spouse or children.

PERSONAL REPRESENTATIVE

• the person appointed by the Court to administer the estate of a deceased person who died without a Will, or
  
• an executor named in a Will to administer the estate of a deceased person and whose appointment is confirmed by the Court.

RENOUNCE

To renounce is to give up your right, in writing, to become the personal representative.

RESIDUE

Residue is that part of the estate to be distributed after fees, liabilities and specific bequests have been paid.

RESIDUARY BENEFICIARY

Residuary beneficiary is a person entitled to a part or all of the residue of the estate.

SPECIFIC BEQUEST

A specific bequest is a specific item or amount of money left to a person in a Will.

TESTATE

Testate is when a person dies leaving a Will.

TESTATOR

Testator is a male person who made the Will.

TESTATRIX

Testatrix is a female person who made the Will.

¹This area of the law is currently under review.