Descendible and heritable are synonyms that refer to the ability of something, typically property, to be passed down to the next generation within a family when the owner passes away.
Capable of being passed down through generations or inherited. For example, the family’s estate was descendible, meaning it could be inherited by future generations. This indicates that the property can be passed down to the descendants of the current owner. In the given example, the family’s estate can be inherited by their children or grandchildren. Similarly, heritable refers to something that can be inherited. For instance, the heir was entitled to the heritable property left by their deceased relative. This implies that the property can be inherited by someone who is entitled to it. In the provided example, the heir is entitled to the property left by their deceased relative.
“Descendible” refers to the ability of property or rights to be passed down to heirs or beneficiaries upon the owner’s death.
Real estate, personal belongings, financial assets, and intellectual property are some examples of property that can be descendible.
No, certain types of property, such as joint tenancy with rights of survivorship or property held in a trust, may have specific rules governing their transfer upon death.
To ensure your property is descendible, you should create a valid will or establish a trust that clearly outlines your wishes for the distribution of your assets upon your death.
If someone dies without a will or trust, their property will be distributed according to the laws of intestacy, which vary by jurisdiction. Generally, it will be distributed to the deceased person’s closest living relatives.
Yes, depending on the value of the property and the applicable tax laws, descendible property may be subject to estate taxes upon the owner’s death.
Yes, in many cases, descendible rights or licenses can be transferred to another person through a legal process such as assignment or licensing agreements.
Yes, the owner of descendible property generally has the right to sell, gift, or otherwise dispose of their property during their lifetime, subject to any legal restrictions or contractual obligations.
Yes, if there are disputes or disagreements regarding the distribution of descendible property, potential heirs or beneficiaries may contest the transfer through legal proceedings.
In some cases, certain types of descendible property may be protected from creditors or legal claims, depending on the applicable laws and the specific circumstances. However, it is advisable to consult with a legal professional to understand the extent of protection available.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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