TYPES AND CHARACTERISTICS OF WILL

Abstract

A will is a testamentary disposition that the legator gains his/her property for the legal or designated heirs or the third party by means of a testament or inheritance contract. Any kind of property that gives a right to claim can be a matter of will. For the will to be valid, the matter of the will must be specified or specifiable. The beneficiary of the will is to be the singular successor of the legator and will not automatically acquire the matter of the will upon the death of the legator, the beneficiary only obtains a personal claim against his/her debts. The beneficiary of the will can earn the value of the property when the required transfer is done by the debtor of the will, according to the nature of the property. Unless understood otherwise from the will, the matter of the will is born upon the death of the legator and it becomes due upon the debtor's acceptance of the legacy or upon the loss of debtor's right to refuse. The responsible person to execute the will may be determined by the legator in the testamentary disposition. Any legal or designated heirs of legator shall be liable for the execution of the will, if the legator does not determine the debtor of the will.