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Testate succession exists under the law of succession in South Africa.. Testamentary succession takes place by virtue of either a will or a codicil: A will or testament is a declaration, in proper form, by a person known as the "testator" or "testatrix," as to how and to whom his or her property is to go after his or her death.
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:
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.
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 ...
Intestacy has a limited application in those jurisdictions that follow civil law or Roman law because the concept of a will is itself less important; the doctrine of forced heirship automatically gives a deceased person's next-of-kin title to a large part (forced estate) of the estate's property by operation of law, beyond the power of the deceased person to defeat or exceed by testamentary gift.
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.
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:
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