Can the Compulsory Share be Waived in Greece?

Question from alas, Can the Compulsory Share be Waived in Greece?

Answer from AI:

In Greece, the concept of a compulsory share, known as the “reserved portion” (κληρονομική επιφύλαξη), is a fundamental part of inheritance law. This reserved portion ensures that certain close relatives of the deceased, such as children, the surviving spouse, and sometimes parents, receive a minimum share of the estate, regardless of the contents of the will.

Understanding Compulsory Share

The compulsory share is designed to protect the financial interests of the deceased’s closest relatives. Under Greek law, the following are entitled to a reserved portion:

• Children of the deceased
• The surviving spouse
• Ascendants (parents, grandparents, etc.) if there are no children or spouse

The size of the compulsory share depends on the number of beneficiaries and their relationship to the deceased. For example, if the deceased has one child, the child is entitled to half of the estate as the reserved portion. If there are multiple children, they collectively are entitled to two-thirds of the estate.

Waiving the Compulsory Share

In Greece, it is possible for an heir to waive their right to the compulsory share. This can be done through a notarized declaration, either before or after the death of the person from whom they stand to inherit. However, there are certain conditions and formalities that must be observed:

1. The waiver must be made in writing and in the presence of a notary.
2. The person waiving their rights must be fully aware of their entitlement and the consequences of the waiver.
3. The waiver must be made without any coercion or undue influence.

It is important to note that the waiver of the compulsory share is a significant legal act with long-term consequences. Therefore, it is strongly recommended that individuals considering this option seek legal advice from a qualified attorney who specializes in Greek inheritance law.

Legal Advice and Further Assistance

Because inheritance laws can be complex and vary based on individual circumstances, it is crucial for anyone involved in a potential inheritance situation to consult with a legal professional. An attorney can provide personalized advice that takes into account the specific details of the case, including family relationships, the size of the estate, and any existing wills or contracts.

For more information on Greek inheritance law and the rights of heirs, you can refer to the Greek Constitution and the Greek Civil Code, which outline the legal framework for inheritance matters.

In summary, while the compulsory share can be waived in Greece, it is a decision that should not be taken lightly. Proper legal guidance is essential to ensure that the rights and interests of all parties are adequately protected.