Legal Definitions - successional

Successional

The term "successional" describes anything that pertains to or arises from the legal process of inheriting property, assets, or rights from a deceased person. It refers to matters related to how ownership or legal entitlements are transferred to heirs or beneficiaries according to established laws of inheritance, whether through a valid will or by default legal rules when no will exists.

• Example 1: After a beloved aunt passed away without a will, her nieces and nephews had to navigate the state's probate court to determine who would inherit her antique furniture collection and savings accounts. The court's proceedings and the resulting distribution of assets were entirely successional in nature, guided by the laws of intestacy.

  Explanation: This example illustrates "successional" because it describes the legal process and outcomes directly related to the inheritance of property from a deceased person, specifically when there is no will and state laws dictate the distribution.

• Example 2: A small business owner meticulously drafted a will outlining how his shares in the company would be divided among his three children upon his death. The clauses in his will detailing this transfer of ownership are considered successional provisions, as they dictate the inheritance of his business interests.

  Explanation: Here, "successional" refers to the specific parts of a legal document (the will) that govern the transfer of property (business shares) through inheritance, demonstrating how a will can establish successional arrangements.

• Example 3: A famous author had several ongoing contracts for future book royalties at the time of her death. Her estate planning included specific instructions for how these future royalty payments, which are a form of intellectual property right, would pass to her designated heirs. The legal rights to these future payments are considered successional rights.

  Explanation: This example highlights "successional" in the context of inheriting ongoing rights or future income streams, showing that inheritance isn't just about physical property but also legal entitlements that continue after death.