An expert committee on reforming inheritance law is in the final stretch, with a proposal due to be submitted to the Justice Ministry next month. Chaired by Professor Apostolos Georgiadis, the panel says most issues are resolved.
One of these concerns handwritten wills, which will remain with extra safeguards.
One unresolved item, to be revisited at the next and possibly final meeting of the committee in September, concerns how estate debts are treated. Handling those debts is difficult and drives renunciations. Under the current framework, an estate and an heir’s assets are treated as one patrimony, so anyone who accepts the estate is liable for its debts with personal property.
One proposal would keep the inheritance as a separate pool, with obligations paid from its assets. Several members opposed that approach, warning that creditors might never recover what they are owed.
Two changes in intestate succession appear settled. The surviving spouse’s share would rise from 25% to 33.3%, leaving two-thirds to any children.
Where there are no children and parents, siblings and cousins inherit, with the 50% remaining unchanged. Unmarried partners would not inherit without a will, but could remain in the deceased’s home, likely for three years, with protections under review.
The committee has also shaped the introduction of inheritance contracts, entering Greek law for the first time. These would let a property owner, while alive, agree with heirs on how assets are divided, including intangible assets such as trademarks and copyrights.
Parties could agree on consideration, exclude heirs under specified circumstances and follow a set procedure. The contracts would bind signatories, with revocation possible for reasons like an offense by an heir.
Changes are also planned for the “forced share.” Close relatives omitted from a will would not receive rights over movable or immovable property, but could claim compensation. Today, if a father leaves a home to one child and omits another, the latter receives 25% of the house. Under the proposals, the home remains with the devisee, while the omitted heir claims 25% of its value in cash. Legal and judicial circles see a double benefit: fewer inheritance deadlocks and greater freedom to dispose of property.