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Inheritance

An inheritance is a written statement in which you can state that you do not want to receive inheritance after a particular person. It may seem illogical for anyone to want to renounce their legacy. But inheritance is typically used if the heir is so indebted that the inheritance alone would benefit the heir's creditors.

What is an inheritance?

An inheritance is a statement from an heir that he does not want to receive the inheritance. In this connection, it can be agreed between the heir ( the heir who leaves behind the inheritance ) and the heir that the heir waives his inheritance, instead of receiving a certain amount.

An inheritance waiver can be used, whether legal heir ( inheritance under the Inheritance Act ) or heir under a will. However, the heir must be of legal age ( at least 18 years ) in order to give a waiver of inheritance. 

 

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How do I give an inheritance advance?

Although there are no formal requirements in the inheritance law to provide an inheritance advance, it is generally recommended that a written agreement on inheritance advance ( inheritance advance contract ) be drawn up. This is because otherwise it is easy to doubt whether this is an inheritance advance or a gift. In such questions of doubt, a judge without evidence to the contrary will assume that it is a gift.

For example, it may be a problem if the donor of the inheritance advance has just chosen to give an inheritance advance over a gift letter to avoid discrimination in the division of inheritance, once the giver goes away. If the amount is considered a gift, it will not be deducted when the giver goes away and the inheritance must be distributed. It could thus provide an unintended benefit to the recipient of the inheritance advance.

 

What is the difference between an inheritance advance and a gift?

The main difference between a gift and an inheritance advance is that the inheritance advance will be deducted from the inheritance to which the recipient of the inheritance advance would be entitled. That way you can put all your heirs right in the end, as they will all receive equal inheritance after you. If you want to give a gift, making a gift letter will be an advantage. 

 

Why should I make a inheritance advance agreement?

If you are to give an inheritance advance to a person, a written inheritance advance agreement provides a number of benefits for both the inheritance ( the person leaving the inheritance ) and the heir:

  • It acts as documentation ( proof ) that it is an inheritance advance and, for example, not a gift given

  • It determines the terms of the inheritance advance, including who is to pay any gift tax ( see below ).

  • It provides inheritance ( the person leaving the inheritance ) to decide that the inheritance advance should be the recipient’s special ownership. This means that if the recipient is – or later becomes – married, the inheritance advance should not be shared with any spouse by separation or divorce.

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