Succession & Will

• SUCCESSION

  • Mode of acquisition by virtue of which the property, rights and obligations to the extent of the value of the inheritance of a person transmitted through his death to another or others either by will or operation of law.
• DONATION MORTIS CAUSA

  • A transfer that takes effect upon the death of the donor
• Donation happens during the lifetime of owner while succession happens after its death.
• TESTAMENTARY

  • Results from the designation of an heir.
  • The decedent executed a last will and testament.
• TESTATOR

  • Creator of the will
• LEGAL/INTESTATE

  • Effected by operation of law or transmission of properties.
  • No last will and testament
  • If there is a will, it will be void.
• MIXED

  • Effected partly by will or by law
• WILL

  • An act whereby a person is permitted to control to a certain degree the disposition of his estate to take effect after his death.
  • From the moment of his death, the rights of succession is transmitted, and the possession of hereditary property is deemed transmitted to the heir.
• NOTARIAL/ORDINARY/ATTESTED WILL

  • Executed in accordance with the formalities prescribed by law.
  • Created for the testator by a third party, usually his lawyer.
  • Follows proper form Signed and dated in front of 3 or more witnesses.
  • Acknowledged by the presence of a notary public.
• HOLOGRAPHIC WILL

  • Written will
  • Entirely written, dated and signed by the hand of the testator himself.
  • Does not need any formalities because many people can recognize his handwriting and can be verified by a penmanship expert.
• CODICIL

  • Supplement/addition to a will.
  • Made after the execution of the will and annexed to be taken as a part thereof.
  • Made when any disposition in the original will needs to be explained, added to, or altered.
• DECEDENT

  • Person whose property is transmitted through succession; with will/no will.
• HEIR

  • Person called to the succession either by the provision of a will or by operation of law.
• ESTATE

  • All the property, rights, and obligations of a person which are not extinguished by his death.
• LEGITIMATE

  • Portion of the testator’s property which COULD NOT BE DISPOSED OF FREELY because the law has reserved it for the compulsory heirs.
• FREE PORTION

  • Part of the whole estate which the testator COULD DISPOSE OF FREELY though written will irrespective of his relationship to the recipient.
• COMPULSORY HEIRS

  • Will inherit with or without will
• PRIMARY COMPULSORY

  • Legitimate and/or Illegitimate children and descendants
  • Widow or widower
• SECONDARY COMPULSORY

  • In default of legitimate children and descendants
  • Legitimate parents and ascendant
• VOLUNTARY HEIRS

  • Inherit only If they are in the will
• INTESTATE HEIRS

  • Also compulsory heirs in testamentary succession.
  • As to the free portion of the estate, it shall be distributed according to the order of priority in the absence of a valid will.