An estate refers to the net worth of an individual person at any point in time. Net worth in this case refers to the sum of the individual's assets, that is; legal rights, interests and entitlements to property less all the liabilities at that particular period of consideration. Therefore, estate law seeks to deal with legal issues arising from the ownership or the transfer of ownership of an estate. These issues actually stem from the succession of the estate upon the death of the owner. The law of succession which is also estate law governs the transmission of property vested in a person at the moment of his death to some other person or persons.

For instance, if you are living in Philadelphia area, you will need to consult a probate attorney Philadelphia to ensure that your estate is transferred to your loved ones without any issues upon your death. The attorney will give you all the necessary guidance to ensure that your will is executed as per your wish. He will organize for the transmission of your property to personal representative after your death so that the property left by the deceased is preserved and protected pending its distribution. Again, the personal representative will ensure proper adjustment of the rights and duties of your creditors and debtors and that the property is distributed well to the beneficiaries.

Estate law has two branches; that is the law of testamentary succession and law of intestate succession. The law of testamentary succession regulates the devolution and distribution of the property of a person who dies testate that is; after having made a will disposing of it. The law of intestate succession on the other hand regulates the devolution and distribution of the undisposed property of a deceased person. A person is deemed to die intestate in respect of all his free property of which he has not made a will which is capable of taking effect.

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Individuals ought to identify a good estate lawyer who will guide them in writing a will and appointing personal representatives to distribute their estate. A will is defined as the legal declaration by a person of his wishes or intentions regarding the disposition of his property after his death, duly made and executed according to the provisions of the laws of succession governing a particular state. Therefore, when the person dies, the personal representatives ensure that the will is executed as per the deceased wishes.