Inheritance is the transfer of property rights, duties and some personal non-property rights of a deceased natural person to their heirs under the rules of intestacy or (and) heirs according to the will. In order to provide more clarity, we will share some information that might be useful when dealing with inheritance issues.
After the death of a loved one, it is important to know, that regardless of where you live, in the UK or abroad, you may have a right to inherit. However, in order to acquire this right, you must accept the inheritance and you must do so in accordance with the procedure provided for in the Civil Code of the respective country. It should be noted that there are no exceptions for persons living abroad, so you should deal with inheritance issues without delay. In this article, we will discuss the acceptance or rejection processes.
If you need help authorizing another person to manage your inheritance issues, please contact IB Service Ltd.
Inheritance, the basics of inheritance
Inheritance is the transfer of property rights, duties and some personal non-property rights of a deceased natural person to their heirs under the rules of intestacy or (and) heirs according to the will. These include: inherited tangible things (property and real estate) and intangible things (securities, patents, trademarks, etc.), property claims of the testator and property obligations of the testator, intellectual property in cases provided by law (property rights of authors to works of literature, science and art, related property rights and rights to industrial property) and other property rights and obligations established by law. Inheritance can be by law and by will. Inheritance by law takes place when it is not changed completely or partly by a testament.
Individuals who may become heirs
Heirs can be:
- 1. When inheriting under the rules of intestacy – natural person’s who were alive at the time of the decedent’s death, children of the decedent born after their death, as well as the country of citizenship.
- 2. When inheriting according to a will – natural persons who were alive at the time of the testator’s death, as well as those who were conceived while they were alive and were born after their death; persons named in the will not yet conceived – upon their birth.
- 3. When inheriting according to a will – legal entities that existed at the time of the testator’s death or were established in fulfillment of the testator’s will expressed in the testament.
Lines of succession:
In the case of inheritance under the rules of intestacy, the heirs in equal shares are:
1. Married partners and civil partners.
2. Close relatives such as children (also adopted).
3. Grandchildren and great grandchildren.
4. Other close relatives: grandparents, uncles and aunts, cousins, etc.
Married partners or civil partners inherit under the rules of intestacy only if they are actually married or in a civil partnership at the time of death. So if you are divorced or if your civil partnership has been legally ended, you can’t inherit under the rules of intestacy. Children of the intestate person will inherit if there is no surviving married or civil partner. If there is a surviving partner, they will inherit only if the estate is worth more than a certain amount.
The grandchildren and great grandchildren will inherit equal shares of the share to which their parent or grandparent would have been entitled. Parents, brothers and sisters, nieces and nephews of the intestate person may inherit under the rules of intestacy.
Other relatives may have a right to inherit if the person who died intestate had no surviving married partner or civil partner, children, grandchildren, great grand-children, parents, brothers, sisters, nephews or nieces.
Inheritance rights for spouses
The decedent’s surviving spouse inherits at law or with first or second line heirs (if any). Together with the heirs of the first line, they inherit one quarter of the inheritance, if there are no more than three heirs, excluding the spouse. If there are more than three heirs, the spouse inherits in equal shares with the other heirs. If the spouse inherits with second-line heirs, he owns half of the inheritance. In the absence of first and second line heirs, the spouse inherits the entire inheritance.
Acceptance of the inheritance
In order to receive the inheritance, the heir must accept it. It is not permitted to accept an inheritance in part or with a condition or reservations. All heirs claiming the inheritance, regardless of the method of inheritance (under the rules of intestacy or according to the will), the order of heirs and other circumstances, must submit a statement about the acceptance of the inheritance/agreement to accept the inheritance to the notary of the place of origin of the inheritance within three months from the day of the death of the decedent.
The heir who accepted the inheritance, according to the estate description drawn up by the bailiff, is liable for the debts of the decedent only with the inherited property, otherwise the heir is liable for the debts of the decedent with all of their property. Therefore, before accepting the inheritance, it is important to evaluate all the circumstances, considering whether the deceased had debts on the day of death, and accordingly decide whether there is a need to accept the inheritance according to the description, thus avoiding the payment of the deceased’s debts from your own funds.
Accepting an inheritance is a one-sided transaction. It is recommended that the application for the acceptance of the inheritance be certified by the notary of the place of origin of the inheritance or submitted to the notary of the place of origin of the inheritance by an authorized representative of the heir.
Bequests can be accepted (as well as refused) through an authorized person. The heir can issue a power of attorney.
In the case of the inheritance by minor children between 14 and 18 years of age, the minor accepts the inheritance themselves, with the consent of the parents, who must obtain the permission of the court to give the consent. In all cases of inheritance by minor children, the children are represented and consent is given by both parents, except when the child’s place of residence is determined by the court to be with one of the parents in the case of the parents’ divorce or separation.
Acceptance of inheritance on behalf of incapacitated or partially incapacitated persons requires court permission.
In all cases where the inheritance is accepted without the actual management of the inherited property, the person submits a statement regarding the acceptance of the inheritance to a notary public. In this declaration, the person indicates whether he accepts the inheritance according to the inventory of the estate or without it. If a person indicates in the application for the acceptance of the inheritance that he accepts the inheritance according to the inventory, the notary shall immediately issue an executive order to the heir for the preparation of the inventory.
Refusal of inheritance and non-acceptance of inheritance
The legal heir or testamentary heir has the right to refuse the inheritance within three months from the date of inheritance. A waiver with terms and conditions or partial inheritance is not permitted. Refusal of inheritance has the same consequences as non-acceptance of inheritance.
Relinquishment of inheritance is a unilateral transaction that does not require a notarial form. The refusal of inheritance is the submission of a statement to a notary, i.e. administrative action of a technical, non-legal nature. However, taking into account the consequences of refusal of inheritance and the importance of clarifying the meaning and consequences of it, it is recommended that the statement on refusal of the inheritance be certified by a notary or submitted to a notary by a person authorized by the heir. After the notary has accepted the application for refusal of inheritance, he submits a notice of refusal of inheritance to the HM Courts & Tribunal Service.
Relinquishment is an irrevocable transaction. If the declaration of refusal of inheritance is submitted to a notary, it cannot be withdrawn, it can be challenged in court on the general grounds of invalidity of transactions.
In the case of minors’ inheritance, the court’s permission to refuse the inheritance must be obtained.
After the deadline for acceptance of the inheritance has expired, the heir’s refusal of the inheritance has no legal significance. The heir can only submit a statement to the notary that he has not actually accepted the inheritance and has no claims.