Understanding Succession Certificate & Probate of Will

Succession Certificate

A Succession Certificate is a court-issued document that authorizes the legal heirs of a person who dies intestate (without leaving a will) to claim movable assets, including debts and securities, held in the name of the deceased.

Probate of Will

• Purpose:
  To obtain the court’s confirmation of a will’s authenticity, ensuring it is the genuine last testament of the deceased and preventing future disputes.

• When Required:
  After the death of a person who has left behind a valid will naming an executor.

• Scope:
  Primarily deals with immovable property and the distribution of assets as outlined in the will.

• Process:
  The court evaluates the will, verifies its validity, and issues a grant of probate, empowering the executor to administer the estate as directed.

• Outcome:
  Grants the executor legal authority to manage, distribute, and transfer the deceased’s assets in accordance with the will.

Succession Certificate

• Purpose:
  To identify and legally authorize heirs to claim movable assets, such as bank deposits, loans, securities, and other debts.

• When Required:
  When a person dies without leaving a valid will (intestate).

• Scope:
  Limited to movable property—not typically applicable for immovable assets.

• Process:
  Eligible legal heirs file a petition before the appropriate court to establish their heirship and obtain legal recognition.

• Outcome:
  Enables the heirs to collect and receive debts and securities from financial institutions, companies, and other entities on behalf of the deceased.

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