Succession law Flashcards
What is succession law?
Succession law governs the transfer or devolution of property on death.
What are the two types of succession law?
The two types are the law of tested succession (wills) and the law of intestate succession.
Can property pass to others outside of a will or intestacy rules?
Yes, there are situations where property may pass outside of a will or intestacy rules.
What did the court hold in Tantoh Agnes Vs Tantoh nee Achu Vivian?
The court held that only property capable of being left by a will can be subject to rules of intestacy.
How is nomination treated in succession law?
Nomination will normally not be considered testamentary disposition.
What happens to an insurance policy on a person’s life after their death?
The policy may belong to them, and the proceeds may fall into their estate.
Can an insurance policy be excluded from the deceased’s estate?
Yes, for example, if it is under the Married Women’s Property Act of 1882, it is held upon trust for beneficiaries and does not form part of the deceased estate.
What happens to a whole life insurance policy if there are no living beneficiaries?
If there are no living beneficiaries, the payout becomes part of the deceased estate and can pass to heirs under intestacy rules.
What occurs if an employee dies before reaching retirement age?
The pension fund trustee will make a lump sum payment in service payment.
