When I first became interested in the legal system, I was surprised to learn that there was a difference between an estate and a succession. But as I got to know more about the law, it became clear that the distinction is important for many reasons. So today we're going to talk about those differences and why they matter!

Estate

The estate is a legal concept that refers to all of a person's possessions and property. Although the term itself isn't used in law, it is common for lawyers to refer to an "estate." The term can be split into two parts: the estate's assets and the estate's liabilities.

Succession

A succession is a transfer of property. It can be by inheritance, donation or gift, will or through intestacy—that is when no valid will exists. The succession may be to one person or several persons who inherit by survivorship (also known as “right of representation”). It does not matter if there are other options available for passing on your estate; these are the only ways to pass on your assets upon death.

A succession may also take place through a trust where someone holds title to property in order to manage it as trustee until it is transferred at some point in time under terms set out by the trust agreement into another person's name who becomes owner of said property after its completion date has been reached

The difference is simple but important.

The difference is simple but important. The estate is the property and the succession is the legal process of transferring that property to the heirs of a person who has died.

The estate owner (the deceased) makes a will (a legal document), which says who they want to inherit their estate. The succession, on the other hand, begins when someone dies without making a will – it involves getting information from government databases and notifying people who might be beneficiaries under provincial legislation like Quebec’s Civil Code or Ontario’s Estates Act.

The difference between an estate and a succession is simple but important. An estate is what’s left over when someone dies, while a succession refers to the transfer of an individual’s assets after death. In both cases, there are specific laws that must be followed in order for everything to be done correctly—and if not all these steps are taken properly then it could lead to some significant complications later on down the line!