Can I determine who will inherit my money?
Can I identify a person who, after my death, inherits my investment?
Can I tell what part of the property falls to the wife and to the children?
Here’s how to share your family’s security
Unfortunately, we do not live in an ideal world and family relationships can be very complicated. Many marriages end in divorce and many partners are not even taken. There is also a large LGBT group in Slovakia, which would also like to deal with the disposal of their property after death.
Many of our clients dispute children and want to be sure that if they die, the saved property will remain children. So what are your options? What can you do to be more confident about how to deal with your property after your death?
Basic information on inheritance proceedings and the right of disposal was dealt with in the first part of the legal advice series on investments.
Determine the heir of the investment by wills
Many clients would like to determine who and how much they inherit from their property. The Civil Code stipulates in §476 to §480 the possibility of succession. Inheritance from “wills” even takes precedence over so-called. “Legal” inheritance.
However, this form of division of estate also has its rules, which must be followed and you cannot exclude some persons from the succession. Such persons are so-called. “Infallible heirs” our children (direct descendants). An unquestionable heir has a “protected” inheritance right by law, which we cannot completely exclude even in the legacy of succession.
You can also write wills without the participation of a notary or. lawyers, most likely wills are written by the canon with their own hand. However, we do not recommend this option to you because of the strict formal nature of such a document as determined by our law. In the event that a will does not contain all the formal conditions laid down by law, such an act would not be taken into account in the context of the succession.
Therefore, it is best to reach out to those who are familiar with the issue, notaries or lawyers. George Smiley recommends writing a will by notarial deed at your chosen notarial office to avoid any complications in the inheritance proceedings.
The notary will explain the matter to you, will make a will and register it in the so-called. The Central Register of Wills, which leads the Notarial Chamber for the purposes of inheritance. It should also be borne in mind that partners have to write their wills separately because our legal order does not recognize the will of several people together.
By will, you can rely on someone your entire property, or just part of it, while the rest will be subject to legal inheritance.
If you have an investment in George Smiley, you can only make a legatee to this part of your property, respectively. you can also identify more persons who would inherit such property. For example, clients who have multiple accounts can refer each account to another person.
Example: Petra has four accounts in George Smiley. In one account, he saves on retirement, saves each of his two children separately and has one account as a financial reserve. In a will, he may determine that a pension savings account refers to a partner, the child accounts for each of their children, and the financial reserve will be subject to inheritance.
Can I take my children out?
The Civil Code in 469a allows your descendants to inherit, but only if one of the following four conditions is met:
- contrary to good manners did not provide the warden with necessary assistance in illness, old age or other serious cases
- the persecutor does not permanently show a genuine interest as a descendant,
- has been sentenced to an intentional crime for a term of imprisonment of at least one year,
- it permanently leads a disorderly life.
However, you need to write a deed of such a step. For a formal deed of deduction, the same applies to a will. Unlike the will, however, you must also state the reasons for the exile in the deed. You can also indicate in the charter whether the offspring applies only to your offspring or to his children and their other descendants.
Finally, good news. For several years, there has been talking of extensive recodification of the Civil Code. Such a recast should reintroduce old-new institutes in the framework of inheritance, such as the “Donation for death” or “inheritance agreement for life”. It is precisely these new inheritance institutes that would make it easier for many people to find their inheritance for the benefit of selected heirs.