Quick Answer: How do I make a will in Greece?

Is a handwritten will legal in Greece?

Under Greek law, wills may be either handwritten or drafted before a Notary Public. If a will is not found, the law regulates the inheritance succession under intestacy as follows: 1.

Is an English will valid in Greece?

Can you use a UK Will for Greek property? You can leave your assets in Greece to somebody with a UK Will, but this doesn’t make sense – the cost of the subsequent inheritance will be more and it is possible that you will inadvertently cause inheritance tax problems.

How does inheritance work in Greece?

According to Greek inheritance law, the children and the spouse are entitled to inherit a part of the legacy, regardless of the conditions imposed by a will. If the deceased has not left a will, the heritage is divided among their closest relatives.

Is a US will valid in Greece?

Clients very often have wills drafted and probated in other countries and wish to apply them in Greece. They are perfectly valid wills done abroad, under the law of the country where they were executed, which makes sense according to the legal practice of that country.

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Is there an inheritance tax in Greece?

Grandchildren, grandparents, brothers and sisters do not have to pay tax for the first 15,000 euros of tax value, they do pay tax 10% on the next 45,000 euros, 20% on the next 160,000 euros, and 30% on any amount above 220,000 euros worth of inheritance share.

How much is Greek inheritance tax?

Depending on the degree of kinship, the marginal inheritance and gift tax rates are 10% for spouses, parents and children, 20% for close relatives and 40% for all others.

Is a foreign Will valid in Greece?

In most cases the Will, which has been drafted, signed and notarised and/or witnessed in the foreign country, will also be valid in Greece (provided that after the passing of the testator, it is also probated by the court or other authority in that country).

What are the Greek inheritance laws?

Under Greek heirship rules, the forced heirs are entitled to a reserved portion of the estate, which includes the shares of the disinherited or unworthy heirs and those who renounced succession. … If other heirs refuse to give the reserved portion to a forced heir, the forced heir has the right to demand restitution.

How long does probate take in Greece?

Non-contested inheritance cases typically take between six months to a year. Whether the deceased left a Will or not is very important in order to establish the rights of the heirs. If a Will is found, it must be probated at the country where it was drafted.

Can you inherit debt in Greece?

As anyone who watches the news knows, there is a debt crisis taking place in Greece. … In fact, the heirs may become personally liable for that debt. Similarly, few people are aware of the fact that certain next of kin “automatically” inherit. when their relative dies without a valid will (eg.

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How do I claim property in Greece?

To declare your property, you must have (or find through your lawyer in Greece) plain copies of the deed of your property, proof of its registration to the old land registry, and in many cases topographic plans (survey maps) and building permits.

Is an Australian will valid in Greece?

Greek law also regulates the issue of the deceased having a Will, which has been already probated by a foreign Court; for example an Australian Will which encompasses the Greek property directly or indirectly. Such Wills are valid in Greece.

Does Greece recognize trusts?

These are found in certain wills and can cause serious problems under Greek Civil Law. The trust is not recognized under the laws of Greece as an entity (does not have the same rights as personhood), neither the Executor nor the Trustees are the heirs and Greek Law requires an heir for the process to commence.

Is a Canadian will valid in Greece?

If there is a Canadian will, this will must first be probated and then translated into Greek by a certified translator and authenticated by the Greek Consulate.