I have been adding statements to many Wikidata items. Lately I have been adding information about several dynasties. So far I have added statements like "preceded by" and "succeeded by" and expected that people would appreciate in what way people were preceded or succeeded. I did not indicate when this happened.
Doing it this way did not really satisfy me. I found a great example of how this could be done and I copied it. In my opinion what you can see above is a big improvement.
When you indicate that a person is the "head of state" of a country, it makes sense to have the same information available on the country as well. Purists may object to the fact that this information will be stored twice. I have no idea how to solve that.