863-670-3126

Succession Law

Succession law, also known as inheritance law or estate law, governs the distribution of a person's assets and property after their death. It encompasses legal principles and procedures that dictate how a deceased individual's estate is managed and transferred to their heirs or beneficiaries.

Key aspects of succession law include:

1. **Wills and Testaments:** Succession law allows individuals to create legally binding documents known as wills or testaments, which outline their wishes regarding the distribution of their assets upon their death. Wills specify beneficiaries, appoint executors to administer the estate, and may include provisions for guardianship of minor children and other important matters.

2. **Intestate Succession:** When a person dies without a valid will, their estate is distributed according to the laws of intestate succession. These laws vary by jurisdiction but generally prioritize spouses, children, and other close relatives as beneficiaries.

3. **Probate and Estate Administration:** Succession law governs the probate process, which involves validating the deceased person's will, identifying and valuing assets, paying debts and taxes, and distributing the remaining estate to beneficiaries. Estate administration involves the appointment of an executor or administrator to oversee these tasks.

4. **Executor Duties:** Executors, also known as personal representatives, have fiduciary responsibilities to manage the deceased person's estate prudently and in accordance with the law. Their duties include gathering assets, paying debts and expenses, filing tax returns, and distributing assets to beneficiaries.

5. **Trusts and Trust Administration:** Succession law also covers the use of trusts as estate planning tools. Trusts allow individuals to transfer assets to beneficiaries while retaining control over how those assets are managed and distributed. Trust administration involves the duties of trustees to administer trusts according to their terms and legal requirements.

from one generation to the next.

"A lawyer's role isn't to pass judgment on the client. Our duty is to provide assistance."

863-670-3126

e-mail:

info@petersontayorlawfirm.om

801 W. 47th Street, Suite 107Kansas City, MO 64112

Name
Phone number
E-mail
Message
	I am aware of and accept the principles of personal data processing contained in the Privacy Policy