How can I renounce my inheritance?
May 18, 2023 | 40,00 EUR | answered by Piotr Gehrmann
Dear lawyers,
I am reaching out to you with an urgent question regarding my inheritance. My grandmother recently passed away and left me an inheritance. Unfortunately, I have found out that the inheritance includes significant debts that I do not wish to take on.
I am now faced with the difficult decision of whether and how to renounce the inheritance. I am worried that accepting the inheritance could lead me into financial difficulties, as the debts exceed the value of the inheritance.
Could you please explain to me what steps I need to take to renounce the inheritance? Are there deadlines that I need to be aware of? What are the consequences of renouncing the inheritance for me and what alternatives are available to me?
I would appreciate any help and advice, as I feel uncertain and overwhelmed in this situation. Thank you in advance for your support.
Sincerely,
Dennis Mattes
Dear Mr. Mattes,
Thank you for your inquiry regarding your inheritance. I am sorry to hear that your grandmother has passed away and left you an inheritance that includes significant debts. It is understandable that you are worried and not willing to take on the debts.
To renounce the inheritance, you must follow certain steps. First, you should contact the competent probate court and submit a formal application to renounce the inheritance. This application must be made in writing and submitted within a certain deadline. Typically, this deadline is six weeks from becoming aware of the inheritance.
It is important to meet this deadline, as otherwise you will automatically be considered as the heir and will have to take on the debts. If you renounce the inheritance, you have no legal obligation to pay the debts. However, this also means that you will lose any claims from the inheritance, including possible assets or other values that could be part of the inheritance.
It is important to be aware that renouncing the inheritance is a final decision and cannot be undone. Therefore, you should carefully consider this decision and, if necessary, discuss it with a specialist in inheritance law. a lawyer can provide you with comprehensive advice and help you make the right decision that best suits your interests.
As an alternative to renouncing the inheritance, you could also consider accepting the inheritance with reservation. In this case, you would initially accept the inheritance, but exclude liability for the debts. This decision can also only be made within a certain deadline.
I hope this information helps you and supports you in your decision regarding the inheritance. If you have any further questions or would like personal advice, I am at your disposal.
Best regards,
Piotr Gehrmann, Lawyer
