Estate planning is often postponed. Indeed, in addition to constraints of time and availability, it is not uncommon for people to be simply reluctant to plan the aspects of their own demise.
However, preparing one's estate properly is the key to ensuring that one's last wishes are respected and avoiding family tensions.
The fundamental basis of this organisation is the drafting of a will.
Holographic, Authentic or Mystical; Monaco offers three forms of will with different drafting conditions and guarantees.
It is essential to be well advised in order to choose a form suited to your personal situation and objectives.
Although an authentic or mystical will is more complex to draw up than a holograph will in that it requires the involvement of a notary, it will be kept by the notary, avoiding the risk of loss, theft or destruction.
This is why the choice must be made on the basis of the testator's personal situation, the complexity of their estate and the way in which they wish to allocate it.
To avoid any disputes and ensure that your last wishes are respected, it is essential to draw up a will whose content complies with the applicable legal rules.
Firstly, it is essential to identify the "available portion", i.e. the portion that the testator may freely dispose of free of charge.
Depending on the family situation, there may be "reserved" heirs, a portion of the estate will consequently be reserved for them, which the testator will not be able to dispose of freely.
Furthermore, the possible international dimension of the estate is in no way an obstacle to the drafting of a will in the Principality but must be taken into account at the time of drafting.
In particular, it is important to consider the language in which the will is to be drawn up and the law applicable to the succession, if the testator's situation enables the conditions necessary for this choice to be met.
By drawing up a will, you can lay the foundations for estate planning and ensure that your assets are protected while maintaining family unity.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
