Post by The Regional Reserve on Dec 22, 2020 16:29:25 GMT -5
Wills Template and Rules
@rr encourages nations to plan for the future ahead of time. The RR allows nations to create a will to distribute their funds and assets to up to five beneficiaries.
Template
To establish a will, please create a new thread here in this sub-board, using the following template:
The Last Will and Testament of [nation]
When my main nation, [url], shall have ceased to exist on NationStates and remained so for 180 days, all of my public assets that are ordinarily refundable shall be liquidated, and my Tacos shall be then distributed to the following nations or entities:
1. [beneficiary] ([XX]%)
2. [beneficiary] ([XX]%)
3. [beneficiary] ([XX]%)
4. [beneficiary] ([XX]%)
5. [beneficiary] ([XX]%)
Signed,
[nation]
Rules
- Wills shall be free to establish, update, and execute and open to all citizens, as well as non-citizen residents who have over 100 forum posts.
- Any nation, corporation, political party, charity, or other entity may be a beneficiary, so long as they have a forum account.
- Only specific, named nations or entities may be beneficiaries. A beneficiary cannot be, for example "the current delegate" or other such indefinite designations.
- A nation can name up to five beneficiaries.
- A nation is only eligible to inherit assets if they are alive on NationStates. A corporation or other entity is only eligible to inherit assets if they are still active on the forum, as judged by @rr leadership.
- If a named beneficiary is thus no longer eligible to inherit, their share shall be redistributed to the other beneficiaries evenly.
- If no named beneficiary is eligible to inherit, the assets shall pass to @rr.
- A will shall be executed after 180 days after ceasing to exist on NationStates, regardless of forum activity or inactivity.
- Before distributing funds, all refundable public assets shall be sold at current prices, including shop items and stocks.
- Space shop items are not refundable and therefore not part of estates.
- Accounts and assets in private companies are not the responsibility of @rr to distribute.
- When you create a will, @rr will post in the thread to certify it if it meets these requirements. When you update your will, please post in your will thread that you have done so, and then @rr will certify the update.
- A nation facing a ban from 10000 Islands forfeits the ability to have their will executed and/or be a beneficiary of a will.
- All wills that were validly established and certified before these new rules shall remain valid, and all wills that are validly established and certified from now on shall remain valid even if the rules for wills later change. However, if a nation wishes to update their will, they must comply with the rules for wills currently in place.
Law on Estates and Wills
NS 318-4: Changes to Estate Law
Record Number: NS 318-4
1. The Regional Reserve Chair, (and their deputy as designated) shall operate an estate system, through which nations, in planning for the distribution of their assets should they cease to exist (CTE), may designate which beneficiaries receive those assets.
2. Wills shall be free to establish, update, and execute and open to all citizens, as well as residents who have over 100 forum posts. Wills may be updated as frequently as desired.
3. A nation facing a ban from 10000 Islands forfeits the ability to have their will executed and/or be a beneficiary of a will.
4. Wills shall be executed by the Regional Reserve Chair, Deputy Regional Reserve Chair, (or another nation designated by the Regional Reserve Chair) when the terms for the execution of the will have been observed, as outlined in the will.
5. The Regional Reserve Chair, Deputy Regional Reserve Chair (or another designated nation) shall establish rules on:
a. The template for wills: This contains most of the other things listed, what can be bequeathed, how many beneficiaries there can be, what can be a beneficiary, etc.
b. What may be bequeathed: What items can or cannot be handed down to beneficiaries, tacos, stock, etc.
c. Where wills are recorded: Are they recorded in a public RRC sub-board in the RR Offices, in a private board, or in the XKI Marketplace, etc.
d. How wills are certified: Once they meet the requirements, does the creator need to PM the RRC confirming the will? Is there a process to verify the will? Do make a post as the RRC saying it is certified.
e. Other rules for wills: Anything else not listed that is necessary for the making of a will.
6. The Council of Nine may override any edits made to the rules for wills by a vote if they deem it necessary.
7. All wills that were validly established and certified shall remain valid, even if the rules for wills later change. However, if a nation wishes to update their will, they must comply with the rules for wills currently in place.
8. If a beneficiary of a will CTEs, then the funds bequeathed to that beneficiary will be distributed evenly among the other beneficiaries. If all beneficiaries CTE, them the fate of the funds in the will is at the discretion of the Regional Reserve Chair.