What is a "Successor bequest"?
"Successor bequest" means that the bequest is made in two stages as follows at the will of the testator.
① It will be bequeathed from the testator to the first bequest.
② Due to the conditions and deadlines set by the testator, the bequest will be made from the first bequest to the second bequest.
For example, a testator may inherit his property to a child and then to his grandchildren after the child's death.
At present, this "successor bequest" is not clearly accepted, so if you leave such a last will and testament, there is a possibility that a dispute will arise in the future.
Therefore, if you have such a desire, you can use the "beneficiary continuous trust".
The "beneficiary continuous trust" is a mechanism that entrusts the property of the testator to a trust company so that the property is provided to the first and second beneficiaries.
In addition, some companies offer life insurance trusts that have the same effect as "Successor bequest" for life insurance death benefits.
If you are thinking of a "Successor bequest" for the disposal of your property after death, you may want to consider using a trust.
If you are thinking of a "successor bequest", please feel free to contact us.
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