Inheritance and debt.

Posted: August 15th, 2013 | Author: | Money

Many times we hear about inheritance, or talk about the substantial inheritance of family members. And although death is unfortunate and sad event, the inheritance seems to be something, maybe not positive, but it certainly does not have such a strong negative overtones as what precedes it – death. And although the benefits may lead to our enrichment, it can also be quite the opposite as we inherit not only wealth, but also debts.

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You may find out that a rich uncle who lived all his life in luxury left us a large part of his assets and even more debt. How to get out of this? At the start, you should know that there are three ways of inheritance: the simple acceptance, acceptance with the benefit of inventory, the rejection of inheritance. The former is the default so if you do not make a statement in court or before a notary, it is considered that the simple acceptance occurred. To change the type of inheritance you must submit a statement to the district court at the place of residence or a notary public.

The heir is the six months since he finds out about the right to inherit the estate. Such a request should include the type of the death certificate of the deceased and known information about the other heirs (first name, last name, address and relationship). Which type of inheritance is guided by what rules? Adopt simple assumes that inherited assets and debts of the deceased, even if the debt is much more than property. By far the best is the party with the benefit of inventory, according to which, does not inherit more debts than assets, so in the worst case we go to zero and we shall not be liable.

If we state that we want to succeed in this way, and no other heir will make any statement, this rule shall apply also to other people who have the right to inheritance. There is a similar procedure if someone makes such a statement, and we shall not do it. However, rejection and resignation form the inheritance requires another mechanism. Having declared to take such a step, it is treated as if we shall not be alive to witness the opening of inheritance, and our share automatically proceeds to our children if they will not reject it.

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