Will
Question 1: Who heirs in my estate?
My spouse is the immediate and “automatic” heir of my property in case of my death. Intestate Succession refers to the sharing of the property when a deceased person who died without leaving a legitimate will with their life partner and beneficiaries that will take this property as per the plunge and conveyance and martial rights in their estates. The standards of the succession of where an individual dwells or have the habitation are regularly applied, however where an individual’s property is found can likewise be applied. The progression manages frequently assume a reinforcement job where the individual had not been put the best possible property discarded the will.
Handling a deceased person estate is a gigantic obligation regarding the life partner and beneficiaries. Thus, if I died and leaving behind no will my close relatives will be the frontline hires of my estate. My spouse and children who are deemed by the law as my “immediate family” will be the priority heirs of my estate. If they wish they could share out my estate to my larger extended family including my mother, brother and aunties.
Question two: What if I leave no will and no relatives behind?
In the case where are possible heirs of my estate are dead and the state can not trace a close relative- or no one comes forth to claim my estate then the property will simple be possessed by the state.
Question three: Why I need a will?
A will is the most important document one could ever write prior to their death as long as their property is concerned. After understanding the succession laws, I think I need a will. For instance, there is little chance that my needy aunty could ever benefit from my estate in case of my death since she is nowhere near the “succession hierarchy” as outlined in the interstate succession laws. Even if I was not to have any immediate relatives, I think it would be better to leave a will that my property is donated to charity instead of been taken up by the state.