What is the relationship between property planning and will?
The relationship between real estate planning and will is related to the importance of correct will in the process of sorting the property of the deceased individual. This connection between real estate planning and will can be seen in the inconvenience in the application of real estate planning when the individual dies without any will, known as Interstate. The will is important because it specifically states the exact way in which the assets will be divided, including the clear list of the person who will be the recipient of the estate or heir. The dying in the absence of the right will leave only one option to the open manager of the estate, usually representatives of the state who will apply any applicable state right to distribute assets.
One of the links between real estate planning and will is that the recipient, along with what is clearly mentioned. Some people could decide to leave their property on a philanthropic organization, such as a society that is a lane preservation of historical symbols. In this case, the application of a will to plan assets is a factt, that it allows you to implement the wishes of the deceased, unlike the laws of the country. The law usually establishes the recipient of the estate of a person who died without will according to the different levels of the relationship of surviving offspring to the person, starting with the closest relatives.
Further applications of the relationship between property planning and will is derived from the fact that it allows the owner of the estate to make specific plans for all smaller dependent persons or any mentality incapable of dependent on the appointment of guardian to manage the estate on behalf of such a person until the specified period. The value of this type of anticipation is that it gives the estate the choice to select Guarudian from his choice rather than to take responsibility for the appointment of someone who chose. When this kind of situation happens, some close relatives usually introduce themselves as candidates for the position of guardians for minors or mentality of an incompetent dependent person. IfThese people were not such people that the owner of the estate would choose, would fail the right to choose a person by died without will.