Define: Quae Sunt In Patrimonio Nostro

“Quae Sunt In Patrimonio Nostro” is a Latin phrase that translates to “What is in our estate” in English. It refers to the assets and properties that belong to an individual or an entity.

To determine what is included in your estate, you should consult with an attorney who specializes in estate planning. They will review your assets, including real estate, investments, bank accounts, personal belongings, and any other valuable possessions, to provide a comprehensive understanding of your estate.

Not all assets are automatically included in your estate. Some assets, such as those held in a trust or owned jointly with someone else, may not be considered part of your estate. It is important to consult with an attorney to understand which assets are included in your estate and which are not.

There are various strategies to protect your estate from creditors, such as creating a trust, transferring assets to family members, or utilizing certain legal entities like limited liability companies (LLCs). Consulting with an attorney experienced in asset protection can help you determine the best approach for your specific situation.

Yes, digital assets can be included in your estate. These may include online accounts, cryptocurrencies, digital files, and intellectual property rights. It is important to document and provide instructions for accessing and managing these assets in your estate plan.

If you die without a will or estate plan, your assets will be distributed according to the laws of intestacy in your jurisdiction. This means that the court will determine how your assets are divided among your heirs, which may not align with your wishes. It is highly recommended to create a will or estate plan to ensure your assets are distributed as you desire.

Yes, you can change your estate plan after it has been created. Estate plans are not set in stone and can be modified as your circumstances or wishes change. It is advisable to review and update your estate plan periodically or whenever a significant life event occurs, such as marriage, divorce, birth of a child, or acquisition of new assets.

An executor is a person appointed in your will to administer your estate after your death. Their responsibilities include gathering and managing your assets, paying debts and taxes, distributing assets to beneficiaries, and handling any legal or administrative tasks related to your estate. It is crucial to choose a trustworthy and capable executor.

In most jurisdictions, you have the right to disinherit someone from your estate. However, it is important to consult with an attorney to ensure you follow the legal requirements and procedures for disinheriting someone. Certain jurisdictions may have limitations on disinheriting spouses or children, so it is essential to understand the specific laws in your area.

While it is not legally required to have an attorney create an estate plan, it is highly recommended. Estate planning involves complex legal and financial considerations, and an attorney can provide valuable guidance, ensure your documents are properly drafted and executed, and help you navigate any potential legal issues.