Abstract
Globalization as the new world order has brought to a more planned human life. This planning not only entails the individual life, but it must plan for a longer term future as well. When we talk about long terms, we immediately think about analytical skills of Roman lawyers in creating the mortis causa institute (effec-ting upon death).A characteristic of this paper comes with the latin term “leg”. The testament is a statement of will, which defines the heirs and the inheritance. While the Testament is a rather more elaborated work, the Legacy is a special provision, an order in the testament, addressed to the heirs, to submit an item or a material value to the privileged persons, called the Legatar. The Legatar, as the benefi-ciary of this provision is only a beneficiary, and does not take res-ponsibility for the debts of the inherited property.Planning of wealth may serve various functions or purposes. The Legacy represents a balance between the freedom of disposing inheritance in a free manner, and limitation of a part called nece-ssary fortune. The money or the values we decide to give away with the Institute of Legacy are not about their material value, but the significance of their investment, the goal and the best reminis-cence of the testators’ contribution in generations.
Highlights
The testament, as an act created during the life of the subject, to take effect only after his/her death, is naturally at first a bit fea-Iliria International Review – 2011/1 © Felix–Verlag, Holzkirchen, Germany and Iliria College, Pristina, Kosovo ring for the testator, because thinking about the time of effect alre-ady creates some fear of that time
The provision of legacy enables the testator to create a special item in the inheritance, an item which assigns firstly the inheritor a privilege in realizing his rights, enables him to be a holder of rights and no liabilities, because he would not be liable for the debts of the testator, a provision which is known for its wide scope, whereby the testator may “legacy” even foreign property
My further research was into practices provided by the current legislation, obviously the studies of this institute were supported by modern legislation, but starting from the Law on Inheritance of Kosovo, where there is no proper addressing, there are problems with provisions, and there is a lack of provisions, firstly with the rules of universal inheritors, which creates confusion, because the “legacy” is a special provision, and its position is not a representative of a late person
Summary
The testament, as an act created during the life of the subject, to take effect only after his/her death, is naturally at first a bit fea-Iliria International Review – 2011/1 © Felix–Verlag, Holzkirchen, Germany and Iliria College, Pristina, Kosovo ring for the testator, because thinking about the time of effect alre-ady creates some fear of that time. Introduction The testament, as an act created during the life of the subject, to take effect only after his/her death, is naturally at first a bit fea-
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