Inheritance acceptance. What does it mean?
According to the Civil Code, upon the death of the testator, his rights and obligations pass to his heirs. There is a presumption that the inheritance is acquired automatically, but the heirs have six months to decide whether to proceed with the process. They have three options: They can accept the inheritance directly, with the benefit of inventory, or reject it.
Inheritance acceptance directly means that the heir is liable for the deceased’s debts without any restrictions. This means that if the liabilities exceed the value of the assets, the heir must repay them from his own funds.
Acceptance of inheritance with benefit of inventory is a safer option. In this case, liability for debts is limited to the value of the assets acquired after the deceased. If the debts exceed the value of the inheritance, the heir will not be liable for the excess.
Rejection of inheritance completely exempts the heir from liability for debts, but at the same time means giving up any property.
Six months to decide
The heir has six months to submit the declaration of acceptance or rejection of the inheritance. The deadline is counted from the day on which the heir became aware of the inheritance, which is normally the date of the testator’s death. If the declaration is not submitted within this period, the inheritance will be automatically accepted, but with the benefit of an inventory, which limits liability for debts to the value of the assets in the inheritance.
What does it mean to accept an inheritance with the benefit of probate?
When deciding to accept the inheritance with the benefit of probate, the heir must draw up a list of the deceased’s assets and liabilities. The value of the debts will correspond to the value of the assets left by the testator. Thanks to this, if the deceased’s assets are small or their value is zero, the heir will not have to pay the debts out of his own pocket.
You can draw up an inventory list yourself based on the template available on the website of the Ministry of Justice, which allows you to avoid additional costs. If there are no assets, the heir will not suffer any financial consequences towards creditors.
Rejection of inheritance. What does this mean?
Rejecting an inheritance is an effective way to avoid liability for the deceased’s debts. However, it should be remembered that rejecting an inheritance also means giving up any property benefits that may result from the inheritance. This decision should be carefully considered because it is not possible to partially accept or reject the inheritance.
How to make a statement?
The declaration of acceptance or rejection of the inheritance can be submitted to a court or to a notary. The court process takes longer, but submitting the declaration to a notary may involve additional costs, but it is faster. In the case of court proceedings, the application for confirmation of the inheritance must be submitted to the competent court of the testator’s last place of residence.
