Private & Family Law
Your death is something you probably would rather not think about. However, it is wise to do so. What do you want to happen to your possessions after your death? If you die without having arranged anything, the law determines who your heirs are. The law also regulates how much each of your heirs inherits. There are many people who want to decide themselves to whom they want to leave their money and things. That is what a will is meant for. This is a notarial deed in which you indicate what you want your estate to be done upon your death.
If you die, your assets and any debts will form your estate. This legacy is divided among your heirs. According to the law, your heirs are your spouse and your children. Only when your partner dies, the children can claim their share. If you do not have a partner or children (anymore), then according to the law your estate will belong to grandchildren. If you do not have any descendants, your parents, brothers, sisters and / or their children will inherit.
Deviate from the legal regulation
You can deviate from the statutory regulation by drawing up a will. For example, you can appoint a good friend as an heir. You can also appoint an executor to carry out your will. Do you have certain items or amounts of money that you would like to leave to a special family member or organization? For example, the antique cupboard on your cousin, your share package on your business partner or a sum of money on charity? You also record that in your will. This is called a legacy. Do you have items with emotional value? You can often leave that to someone with a codicil.
Do you find it important that an heir may only have the inheritance at his disposal from a certain age? Then you can include a so-called administrator in your will. This person manages, up to the age determined by you, the assets that the heir inherits from you. Only in consultation with the administrator and with his permission can your heir get the inheritance.
Arrange custody by will
In your will you can also arrange who will receive custody of your minor children, in case you are no longer there. You can arrange a large number of things. Like the finances of the children, whether they have to stay together, whether they have to live with the guardian and much more. The guardian exercises the authority over the minor children and also has the power over the children. In testament you can determine that someone other than the guardian will be in office or that the guardian will also rule until a certain age as soon as the children reach the age of majority.
Exclude family members from your estate (disinherit)
Do you not want your partner or children to share in your estate? Then you can disgrace them in your will. Do you want to protect your children in case of divorce? Then by including an exclusion clause in your will you can ensure that a departing partner of your child is not entitled to your estate.