fideicommissary

A fideicommissary is a person or entity to whom property is bequeathed in trust, with the instruction that the property be passed on to a third party at a later date. This concept originates from Roman law and is a crucial element in estate planning and inheritance law. The fideicommissary is not the initial beneficiary, but rather a subsequent one. The person who establishes the fideicommissum is called the trustor or testator, and the initial holder of the property is known as the fiduciary. The fiduciary is legally bound to preserve the property and transfer it to the fideicommissary according to the terms set out by the trustor.

The purpose of creating a fideicommissum can vary. It might be used to ensure that property remains within a family, to protect assets for minors or individuals unable to manage them, or to dictate specific conditions for inheritance. For instance, a testator might leave property to their child (the fiduciary) but stipulate that upon the child's death, the property must pass to their grandchildren (the fideicommissaries). The legal framework surrounding fideicommissaries differs across jurisdictions, but the core principle of delayed inheritance and trust remains consistent. This legal mechanism allows for greater control over the distribution of assets beyond the immediate heirs.