Statutory succession

Statutory succession refers to the legal process by which a person's assets and property are distributed after their death, according to the laws of their jurisdiction, rather than a will or trust. This typically follows a specific order of relatives, such as spouses, children, and parents. If someone dies without a will, statutory succession laws ensure their estate is divided fairly among surviving family members. Each region may have different laws that dictate who inherits and in what proportion, providing a framework to prevent disputes and ensure a smooth transition of assets.