Suggest the use of personal capital
Turning Off Inheritance - You Must Know That
How to turn down the inheritance
Can you inadvertently accept the inheritance? For example, by applying for a certificate of inheritance too early or doing nothing? Can you turn it down afterwards?
You declare the disclaimer to the probate court. The probate court is the district court in whose district the deceased had his last place of residence or residence, but it is also possible at the district court in whose district the deceased has his residence. You can appear there in person and explain the disclaimer. That will cost you 30 euros.
If this is too cumbersome for you, you can also contact a notary of your choice who will draw up a corresponding notarial declaration. Here, too, there are costs of 30 euros for an overindebted estate. You must then ensure that the certified declaration is received by the probate court within the deadline.
Important: A mere letter to the probate court is not enough.
Turning out the inheritance means that you are no longer entitled to any part of it. So you can no longer claim your compulsory portion. If you have already taken items from the estate, you must return them.
If the inheritance is rejected, the inheritance goes to the next candidate. These can be your own children if necessary. If the children are minors, you, as the legal representative of the children, must refuse to inherit your children.
If all heirs reject, the state inherits in the end. He cannot refuse the inheritance, but he does not pay for the debts.
Another possibility: Apply to the estate administration
If the estate is confusing and you cannot foresee the obligations you will face, you can limit liability to the estate. Then you are no longer liable with your private assets.
To do this, apply to the probate court for administration of the estate. You can submit the application personally for the record in the office of the probate court or in writing by post. The court appoints an administrator to pay off the debt from the estate.
The estate administration costs are paid from the estate. If the estate is too small, the state bears the costs. The administration of the estate ends when all debts have been paid.
If there is any remaining assets, this will be paid out to you. If the administrator determines that the inheritance is insufficient to pay the debts, the administration also ends. The administrator then applies for bankruptcy proceedings.
If you only realize a few months after the inheritance that the inheritance is growing over your head, this is not a problem either. You can apply for the administration of the estate up to two years after the inheritance came into effect.
Last resort: the probate bankruptcy proceedings
You can also apply for bankruptcy proceedings yourself if you have accepted the inheritance but the estate turns out to be in debt. You submit the application to the bankruptcy court (district court) in whose district the deceased lived.
With the estate insolvency procedure, you limit liability for the debts to the existing estate. You no longer have to pay for the debt with your own assets. Don't let the word "bankruptcy" put you off: this procedure has no negative impact on your person or your assets. The proceedings are only opened on the deceased's estate. Your personal financial situation is not discussed in the estate insolvency and has nothing to do with the proceedings.
The court only opens the proceedings if it assumes that the estate is sufficient to cover the costs of the proceedings and the costs of the insolvency administrator. If this is not the case, the court will determine the poverty of the estate. You will receive a corresponding decision from the court.
You can rely on this should creditors of the deceased, such as companies or banks, come up to you and ask you to pay the debts. Send a copy of the court order to the creditors as evidence. They then know that there is nothing more they can get.
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