WILLS AND INHERITANCE.

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Presentation transcript:

WILLS AND INHERITANCE

INHERITANCE LAW WILLS AND PROBATE or LAW of SUCCESSION or WILLS AND PROBATE - a branch of civil law concerned with the distribution of a person’s property after their death

acquisition of a person’s property (ESTATE) SUCCESSION acquisition of a person’s property (ESTATE) following their death in accordance with under the applicable the provisions of a rules relating to WILL INTESTACY

SUCCESSION WILLS INTESTACY must be in writing signed by the TESTATOR (the person making the will) witnessed by at least 2 witnesses Valid if - The testator is over 18 - The will is made of sound mind EXECUTOR (a person appointed by the will to carry out the terms of the will) BENEFICIARY, LEGATEE (a person who inherits property under a will) – BEQUEST – property given to another by will To die INTESTATE – to die without a will Property is distributed in accordance with INTESTANCY RULES (set out the order of priority applied when distributing the estate to the possible beneficiaries) ADMINISTRATOR (a person appointed by a court to distribute the property of someone who has died intestate) HEIR, BENEFICIARY

Succession HEIR; INHERITANCE = refers to succession of property from a descendent who has died INTESTATE (without a will) BENEFICIARIES, LEGATEES = recipients of property through a will

WILLS AND INHERITANCE I Match each legal term with its definition! LEGACY The official right to prove and the fact of proving that a will has been written and signed in accordance with the law./ The official document which confirms that the will is valid and states who the executors are. WILL Property which can be turned into cash. DECEASED A legal declaration of a person's wishes as to the disposition of his or her property or estate after death, usually written and signed by the testator and attested by witnesses. BENEFICIARY Dead, late RESIDUE One to whom a legacy is given. PROBATE One who gets a benefit; one who is left something in a will. ASSETS The remainder, what is left eg. of a person’s estate after all claims and debts have been paid. LEGATEE A gift of personal property by will  

WILLS AND INHERITANCE II Who are the people mentioned in the will? Mr. Philip Scott Yorke Mr. Paul Yorke-Parker A .R. Browne and J. G. Jones Mr. N. A. Y. Yorke-Modge R. C. Roberts & Russel

WILLS AND INHERITANCE III What does the estate consist of?   III What does the estate consist of? 1.__________________________; 2.___________________________ 3._________________________; 4.____________________________ 5._________________________; 6.____________________________ IV Retell the letter in your own words. Use the key legal terms. Mr. Paul Yorke-Parker is one of the pecuniary legatees in the will of his deceased relative Mr. Philip Scott Yorke. He is entitled to …