Consultancy Services We Offer

- diagnose business, accounting and management problems
- draft blueprint to ensure family wealth survives founder's mortality
- handle property transfers and suggest the most tax-efficient ways
- set up corporations, foundations, and trusts to take care of properties
- assist in structuring scholarship and endowment
- come up with marital property settlement agreement
- plan estate and draft will
- settle inheritance partition


Bequeth to a Horse

Someone asked me, "I have a friend who... 

had a peculiar passion for his racing horse. The horse is a top of the line thoroughbred whom my friend invested a sizable sum into its care and grooming. The horse won numerous derbies and my friend was absolutely delighted with it.  When my friend died a widower, he stated in his will that two million dollars, a sizable chunk of his fortune, would go to the horse so that its welfare and maintenance would be taken cared of. And he explicitly stated in his will that no part of his estate be given to his son and only heir with whom he was estranged. Is the will valid?

My answer is the institution of the horse as an heir is not valid. The law requires an heir to be a person. And not just person but must be someone who has juridical capacity.

The proper step would have been for him to name a person as trustee who would be taking care of the horse.

As for the disinheritance of his son and only heir, the law requires that disinheritance must state a cause. Failing to state the cause will annul the provision.

Art. 915.               A compulsory heir may, in consequence of disinheritance, be deprived of his legitime, for causes expressly stated by law.
Art. 916.               Disinheritance can be effected only through a will wherein the legal cause therefor shall be specified.             
Art. 917.               The burden of proving the truth of the cause for disinheritance shall rest upon the other heirs of the testator, if the disinherited heir should deny it.
Art. 918.               Disinheritance without a specification of the cause, or for a cause the truth of which, if contradicted, is not proved, or which is not one of those set forth in this Code, shall annul the institution of heirs insofar as it may prejudice the person disinherited; but the devises and legacies and other testamentary dispositions shall be valid to such extent as will not impair the legitime


/EL

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