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Simple English definitions for legal terms
testamentary succession
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A quick definition of testamentary succession:
Testamentary succession is when someone's property and belongings are passed down to someone else after they die. This can happen in two ways: if the person who died wrote a will and named who they wanted to inherit their things, or if they didn't write a will, in which case the law decides who gets what. There are other types of succession too, like when a company changes ownership but still exists, or when someone inherits everything from someone else, including their debts.A more thorough explanation:
Testamentary succession is a type of succession that occurs when someone designates an heir in a legally executed testament or will. This means that the person who has passed away has chosen who will inherit their property and assets.
For example, if John creates a will and designates his daughter as his heir, then she will inherit his property and assets after he passes away. This is an example of testamentary succession.
Testamentary succession is different from intestate succession, which occurs when someone dies without a valid will. In this case, the state's laws determine who will inherit the person's property and assets.
Overall, testamentary succession is an important legal concept that allows individuals to choose who will inherit their property and assets after they pass away.