Forced heirship


Forced heirship

Forced heirship is a reference to the testamentary laws which limit the discretion of the testator to distribute assets under a will or codicil on death. [http://books.google.com/books?id=2D9ff7T028oC&pg=PA54&lpg=PA54&dq=forced+heirship&source=web&ots=0yfaccEvOs&sig=1Z-9RdQ2UGLvLhOgGxjB98p2eCU#PPA53,M1] Forced heirship laws are most prevalent amongst civil law jurisdictions and in Islamic countries; these include major countries such as France, Saudi Arabia, the U.S.A. (in Louisiana) [ [http://www.baldwinhaspel.com/publications-41.html Baldwin & Haspel: Publications: Louisiana Forced Heirship (A reminder that it is still with us.) ] ] , and Japan.

"Black's Law Dictionary" defines a forced heir as:

Advocates of forced heirship contend that it is perfectly proper for testators to be required to make adequate provision for their dependents, and that most countries in the world permit wills to be varied where they would leave dependents destitute. Critics suggest that there is a great difference between varying wills to the minimum degree to provide sufficient financial support for dependents and prohibiting the testator from distributing the estate or a proportion of the estate to any female children, or younger male children, and that it cannot be any less repugnant to force a deceased person's assets to distribute their assets in a certain manner on their death than it would be to tell them how they may do so during their lifetime.

Wealthy individuals sometimes seek to circumvent forced heirship laws by transferring assets into an offshore company and seeking to settle the shares in the offshore company in a trust governed by the laws of a jurisdiction outside their domicile.

ee also

* Legitime

Footnotes


Wikimedia Foundation. 2010.

Look at other dictionaries:

  • heirship — UK US /ˈeəʃɪp/ noun [U] LAW ► the legal right to receive money, property, or possessions from someone who has died: »France, Italy, and Spain all have some form of forced heirship regime under their civil law codes …   Financial and business terms

  • Succession (conflict) — In the Conflict of Laws, the subject of succession deals with all procedural matters relevant to estates containing a foreign element whether that element consists of the identity of the deceased, those who may inherit or the location of property …   Wikipedia

  • Conflict of succession laws — Conflict of laws Preliminiarie …   Wikipedia

  • Offshore financial centre — Many leading offshore financial centres are located in small tropical Caribbean countries. An offshore financial centre (OFC), though not precisely defined, is usually a small, low tax jurisdiction specializing in providing corporate and… …   Wikipedia

  • Intestacy — Intestate redirects here. It is not to be confused with Interstate. Wills, trusts …   Wikipedia

  • Legitime — In civil law and Roman law, the legitime , or forced share, of a decedent s estate is that portion of the estate from which he cannot disinherit his children, or his parents, without sufficient legal cause. The word comes from French héritier… …   Wikipedia

  • List of law topics (F-M) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… …   Wikipedia

  • Will (law) — Last Will redirects here. For the 2011 film, see Last Will (film). Wills, trusts …   Wikipedia

  • Situs (law) — In law, the situs (pronounced sī təs ) (Latin for position or site) of property is where the property is treated as being located for legal purposes. This may be important when determining which laws apply to the property, since the situs of an… …   Wikipedia

  • Offshore investment — is the keeping of money in a jurisdiction other than one s country of residence. Offshore jurisdictions are a commonly accepted solution to reducing tax burdens levied in most countries to both large and small scale investors alike. Poorly… …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.