The testament or will is a legal and formal act where a person leaves in writing his will regarding how his assets will be divided after his death. For a will to be valid, a series of requirements established by the Law of Successions and Donations must be met. This regulation aims to enforce a person's last will regarding the use of their property or relevant acts.
Why is it advisable to make a will?
It is essential to make a will before any illness or accident occurs to help protect an inheritance. If it does not exist, the law will decide for us about the destination of our assets. The choice is always revocable by the grantor and is only activated when the signer's death occurs.
Making a will is a simple and inexpensive procedure that allows you to decide on the destination of the assets and know that it will be fulfilled when the person is gone. It is the best way to organize wishes since the will is legally established, facilitating the transfer of assets and avoiding problems for relatives and friends.
The most recommended, safe, and comfortable option is the open will made before a notary, who advises on the different possibilities of doing it and helps in its drafting, according to the applicable legislation and the testator's will.
Despite being called open, its content is secret for everyone except the testator since, until the moment of his death, no one can access its content unless the testator allows it. If the person wishes, they can include a solidarity legacy in their will and extend their solidarity with the causes or institutions that are important to them, without harming the legitimate inheritance of their heirs.
What should the will contain?
It is not mandatory to say in which assets the part of each of the heirs is specified in the will. If you have children, the most common thing is that they are named heirs in equal parts, without making any mention of the assets but applying a similar percentage to all of them.
After the testator dies, those named in the will have to inventory the assets and debts that he had and proceed to their distribution.
A testator may want to attribute a specific asset to one or more people, be it a property, a jewel, the money in a checking account, or anything else. In this case, what is called a legacy is made.
The testator gives that specific asset. The legacy can be made in favor of the forced heirs -be the descendants or ascendants- or of other people or institutions. In any case, you must respect the limits imposed by the legitimate ones.
The legatees -beneficiated with a legacy, only receive what is indicated by the testator. The rest is awarded to the heirs, who are the ones who acquire everything that the deceased had and that has not been specially bequeathed, including debts, which will be obliged to satisfy if they formally accept (can tacitly receive) the inheritance.
Sometimes, it is convenient to appoint one or more people to take care of the inheritance and protect the assets after the testator has died. Determines the distribution if it is expected that friction or difficulties will occur between the heirs, the executor, and the so-called accountant-divider.
It is possible to appoint guardians when there are minor children, anticipating that both parents are absent. The will is always revocable. That is, it can permanently be changed; The one who grants it can do a later one whenever he wants. On the other hand, it is a personal document. It does not have to be given to any registry or office. It does not prevent the testator from disposing of his assets, just as he had not done so.
You can hire a lawyer to draft your will, or you can also download online will format from several available websites. You can download it based on your requirement and you can also get it customized.
What are the benefits of making a timely will?
Provide security to your family's assets
It offers the option of inheriting whoever you choose
Avoid causing uncomfortable situations to your family members
It allows establishing rights and obligations to the heirs
You have the opportunity to modify and add any clause
Provide security to your family's assets
You must be clear that it is not necessary to be an elderly adult or have a terminal illness to make a will. Furthermore, it is recommended that mortgage loan holders be cautious and designate their real estate to the people or relatives they choose.
Then, in the event of any mishap, their properties are protected through this document. And their heirs are not prosecuted or revoked because there is no will.
In this way, not having a will is putting your family's estate at risk and putting it through costly legal processes since they will have to seek the advice of a lawyer to carry out the necessary procedures to obtain custody of your property.
Unfortunately, there are cases in which the results do not prove to be very favorable for parents, spouses, partners, or children, so that these changes could affect the financial and emotional stability of your loved ones.
What happens if a will is not left?
Dying without a will is known as an intestate, and dying with a will is called a testate. There are protocols to follow in each case. In the first case, the administration follows the lineage of heirs, even if there are no descendants.
If the legal partner of the deceased is alive and left one or more descendants who are also descendants of his partner and the latter has no other descendants with another or another, then the spouse receives everything the same.
If the legal couple has descendants (children or grandchildren) with the deceased but also with another, then he/she is responsible for half of the inheritance that is part of the estate. The other half goes to the descendants or descendants. If the person was not married at the time of death but leaves descendants, then they will receive everything.
Conclusion
The donations that the testator has made in his favor cannot be revoked unless the fact that gave rise to the disinheritance is also caused to cancel the grant. If, subsequently, the testator and the disinherited reconcile, the disinheritance will be without effect.
The inheritance will be transferred to their children and descendants, who will keep the rights belonging to disinherited legacy in their favor.