Framtíðarráðstöfun

Framtíðarráðstöfun, a term in Icelandic law and estate planning, refers to arrangements made for the disposition of one's assets and affairs after their death or incapacitation. This concept encompasses various legal instruments and actions designed to ensure that an individual's wishes are carried out.

The most common form of framtíðarráðstöfun is a will, known in Icelandic as a erfðaskrá. A will allows an individual to specify how their property should be distributed among heirs and other beneficiaries. It can also include provisions for guardianship of minor children, appointment of an executor, and instructions regarding funeral arrangements.

Beyond a will, framtíðarráðstöfun can also involve powers of attorney, specifically a fulltíðarævilöggilding (enduring power of attorney). This legal document designates a trusted person to manage the individual's financial and personal affairs if they become unable to do so themselves due to illness or incapacity. Such arrangements are crucial for preventing potential disputes and ensuring continuity in managing one's affairs.

Another aspect of framtíðarráðstöfun can include pre-arranged funeral plans or charitable bequests. The overarching goal is to provide clarity and direction, minimizing potential burdens on loved ones during a difficult time and ensuring that the individual's final wishes are respected. Legal counsel is often sought to ensure these arrangements are legally sound and effectively achieve the intended outcomes.