Inheritance is a common issue in civil relations, especially when it comes to asset distribution after someone passes away. In this article, A.D.V.N Law provides comprehensive, legally accurate, and easy-to-understand information on inherited estates and how to determine them.
WHAT IS AN INHERITED ESTATE? HOW TO ACCURATELY DETERMINE INHERITANCE ASSETS?
According to Article 612 of the 2015 Civil Code, an inherited estate is defined as:
"The deceased’s separate property and the portion of common property owned by the deceased in joint ownership with others."
1.1 Characteristics of an inherited estate:
Assets left behind by a deceased person;
Includes both separate and jointly owned assets;
Can be cash, gold, real estate, vehicles, shares, savings books, or valuable documents.
1.2 Methods of inheritance distribution:
According to a will: When the deceased has left a valid will;
According to the law: When there is no will, or the will is invalid (wholly or partially).
2.1 Determining inheritance through a will
A will is a document expressing a person’s wishes to transfer assets to others after their death.
A valid will must include:
Date of the will;
Full name and residence of the testator and beneficiaries;
Description and location of the assets;
Not violating laws or social morals.
Rights of the testator:
Designate or exclude heirs;
Allocate property for worship or gifting;
Assign obligations to heirs.
Note: Assets are only distributed according to the will if the will is legally valid.
2.2 Determining inheritance by law
Inheritance is distributed by law in the following cases:
No will exists;
The will is entirely or partially invalid;
Beneficiary in the will dies before or at the same time as the testator;
Beneficiary is not eligible or declines the inheritance.
Inheritance orders under Article 651 of the Civil Code:
First order: Spouse, biological/adoptive parents, biological/adopted children;
Second order: Grandparents, siblings, nieces/nephews;
Third order: Great-grandparents, aunts, uncles, cousins…
Application rules:
Priority is given to the first order of heirs;
If no one in the first order qualifies, the next order applies;
Heirs in the same order receive equal shares.
Summary
An inherited estate includes all the deceased’s assets, and it can be distributed according to a valid will or by law. Accurately determining the assets and rightful heirs is key to ensuring transparent, lawful distribution and avoiding disputes.
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