Law of Succession

Study Notes

The law of succession refers to the rules and principles governing the distribution of a person's property and assets after their death.
The purpose of the law of succession is to ensure that the deceased person's wishes are respected and that their property is distributed fairly and efficiently.

Testate succession: When a person dies leaving a valid will, the distribution of their property is governed by the terms of the will.
Intestate succession: When a person dies without a valid will, the distribution of their property is governed by the laws of the jurisdiction.

Surviving spouse: The spouse is entitled to a share of the estate, which varies depending on the jurisdiction.
Children: Children are entitled to a share of the estate, with the exact share depending on the jurisdiction and the number of children.
Other relatives: Other relatives, such as parents, siblings, and nieces and nephews, may be entitled to a share of the estate in certain circumstances.
Default rules: If there are no surviving relatives, the estate may escheat to the state or be distributed according to the laws of the jurisdiction.

Requirements for a valid will: A will must be in writing, signed by the testator, and witnessed by at least two people.
Types of testamentary dispositions: A will can include various types of dispositions, such as:
- Bequests: Gifts of specific property or assets.
- Devises: Gifts of real property.
- Legacies: Gifts of money or other personal property.
- Appointments: Nominations of executors or trustees.

Executor: The person responsible for carrying out the instructions in the will and managing the estate.
Administrator: The person responsible for managing the estate when there is no will or when the executor is unable to act.

Probate: The process of proving the validity of a will and appointing an executor.
Estate administration: The process of managing the estate, including collecting assets, paying debts, and distributing property to beneficiaries.

Law of succession refers to the rules and principles governing the distribution of a person's property and assets after their death.
The purpose is to ensure the deceased person's wishes are respected and their property is distributed fairly and efficiently.

Testate succession: distribution of property is governed by the terms of the will when a person dies leaving a valid will.
Intestate succession: distribution of property is governed by the laws of the jurisdiction when a person dies without a valid will.

Surviving spouse is entitled to a share of the estate, varying depending on the jurisdiction.
Children are entitled to a share of the estate, with the exact share depending on the jurisdiction and the number of children.
Other relatives, such as parents, siblings, and nieces and nephews, may be entitled to a share of the estate in certain circumstances.
If there are no surviving relatives, the estate may escheat to the state or be distributed according to the laws of the jurisdiction.

A will must be in writing, signed by the testator, and witnessed by at least two people to be valid.
Types of testamentary dispositions include:
- Bequests: gifts of specific property or assets.
- Devises: gifts of real property.
- Legacies: gifts of money or other personal property.
- Appointments: nominations of executors or trustees.

Executor: the person responsible for carrying out the instructions in the will and managing the estate.
Administrator: the person responsible for managing the estate when there is no will or when the executor is unable to act.

Probate: the process of proving the validity of a will and appointing an executor.
Estate administration: the process of managing the estate, including collecting assets, paying debts, and distributing property to beneficiaries.