4Definitions

4 Definitions

4 Definitions

In this part—

estate includes the following—

(a) a trust,

(b) a fund.

trustee includes the following—

(a) an administrator,

(b) an executor,

(c) another person acting in a similar fiduciary capacity.

value, of a managed person’s estate, means—

(a) the value of the real and personal assets of the estate, without deducting secured or unsecured debts or liabilities, but

(b) does not include the value of—

(i) the person’s principal place of residence, or

(ii) for a managed missing person—the person’s last known principal place of residence.