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Before 1954, when the Wills Act, 1953 came into force, all provinces had their own legislation regulating the law of testate succession; now the Wills Act, 1953 has uniformed the law in this regard. When dealing with a will which may have been executed under suspicious circumstances, it is important to investigate whether the testator wanted to ...
The common law of succession applies to testate succession except if a testator, living under customary law prescribed otherwise in his or her will or if a court decides otherwise. The Intestate Succession Act [1] applies to all intestate estates irrespective of the cultural affiliations of the deceased. Succession may take place in three ways:
Testate succession covers those rules which apply if the deceased left behind a legally valid will to determine who would inherit his assets. The nasciturus fiction was expressly included for the purposes of testate succession, and thus became part of statutory law, [ 58 ] in the Wills Act:
Continue reading → The post Testate vs. Intestate: Estate Planning appeared first on SmartAsset Blog. Someone who dies (known as the "decedent") with a legitimate will has set up what is known ...
The Intestate Succession Act, 1987 applies, except as explained below, in all cases where a person dies wholly or partially intestate after 18 March 1988. Under the Act, the surviving spouse and the adopted child are heirs of the deceased. The historical discrimination visited on extra-marital children has disappeared.
Living trusts can act as probate-repellent, but some assets need to be kept out. If you want to help your kids bypass probate when you die, here are 5 assets to avoid putting in a living trust ...
Forced heirship is a form of testate partible inheritance which mandates how the deceased's estate is to be disposed and which tends to guarantee an inheritance for family of the deceased. In forced heirship, the estate of a deceased ( de cujus ) is separated into two portions.
Inheritor – a beneficiary in a succession, testate or intestate. Intestate – person who has not created a will, or who does not have a valid will at the time of death. Legacy – testamentary gift of personal property, traditionally of money. Note: historically, a legacy has referred to either a gift of real property or personal property.