Succession law is a legal concept concerning the transfer of assets from a deceased person to their heirs. It is the process by which the assets of a deceased person are distributed among their heirs according to applicable legal rules.
Succession Law
Succession law is governed by inheritance laws, which vary from country to country. In France, for example, succession law is governed by the Civil Code. The Civil Code establishes rules for succession based on kinship and family ties between the deceased and their potential heirs.
The main criterion used for succession is the relationship to the deceased. In the absence of a will, the law provides a specific order of succession that is followed to allocate the deceased's assets to their heirs.
Definition
Order of succession in the absence of a will
- The descendants of the deceased (children, grandchildren, etc.) have priority over other heirs. If the deceased has children, they inherit to the exclusion of other potential heirs.
- In the absence of descendants, the ascendants (parents, grandparents, etc.) of the deceased inherit.
- If the deceased has neither descendants nor ascendants, their siblings inherit. If any sibling has passed away, their children inherit in their place.
- Finally, in the absence of descendants, ascendants, siblings, the more distant relatives of the deceased, such as uncles, aunts, cousins, etc., may inherit.
However, it's important to note that the deceased can choose to designate their heirs differently by drafting a will. A will can modify the order of succession and allocate the deceased's assets to individuals who are not necessarily their legal heirs.
Another possibility is the renunciation of the inheritance. Heirs can choose to renounce their right to inherit the deceased's assets. This can be done for various reasons, such as if the inheritance has more debts than assets, or if the heirs prefer not to take on the deceased's assets.
Summary
Key Points:
Succession law is the process of distributing a deceased person's assets to their heirs. It is governed by inheritance law and is based on the relationship to the deceased. In the absence of a will, the order of succession provides that descendants have priority, followed by ascendants, then siblings, and finally more distant relatives. However, the deceased can modify this order by drafting a will. Heirs also have the option to renounce their right to inherit....
