Most people put off planning their estate. This is often due to
the common misconception that this involves how one's estate
will devolve after death, too morbid an idea for most to entertain.
However, the concept of estate planning also captures the
management of one's assets over his lifetime. This is the
primary objective of estate planning.
An estate consists of all one's assets (including donations
or inheritance) and liabilities. An estate does not cease to exist
upon death. It rather merges with the estate of one's
successors. The assets of the deceased become their assets, and
likewise the liabilities.
Maltese law provides several mechanisms for planning one's
estate. The most popular of these mechanisms is the will that
becomes effective upon the testator's death. Other popular
mechanisms include regimes for the regulation of estates between
spouses. These include the separation of estates and the community
of residue under separate administration. Yet
