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Property inheritance on death.

Property inheritance on death.

Old May 11th 2019, 4:10 pm
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Default Property inheritance on death.

My partner and I, with a Lawyer here, set a will that when one of us dies the other will inherit the property/bank accounts/possessions ( the lot) as per UK. The will was set in both English and Hungarian and registered in Budapest on recommendation of the Lawyer. Before we talk to our Lawyer to make sure there are no complications I would ask if anyone here has had experience of the process. Apparently our Bank has asked us for an "Estate Order" so the survivor can access the joint accounts.
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Old May 13th 2019, 9:58 pm
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Default Re: Property inheritance on death.

Originally Posted by enter View Post
My partner and I, with a Lawyer here, set a will that when one of us dies the other will inherit the property/bank accounts/possessions ( the lot) as per UK. The will was set in both English and Hungarian and registered in Budapest on recommendation of the Lawyer. Before we talk to our Lawyer to make sure there are no complications I would ask if anyone here has had experience of the process. Apparently our Bank has asked us for an "Estate Order" so the survivor can access the joint accounts.
You say 'partner' so I presume you are not married. Doubtless your lawyer has explained the difference between bequests to spouses and other people. Basically between spouses and children there is no IHT but IHT increases the further away from family you get. I am not sure exactly where partners sit - if anywhere on this. Couples living as partners have been known to get married for IHT reasons ! Under the law surviving spouses have to benefit from the estate regardless of any will to the contrary. i.e. you can't leave it all to the cats home (or partner) to the detriment of a surviving spouse. (AFAIK but check this with your favorite lawyer)

As far as I know with a joint account, on the death of one account holder half of the funds in the account are frozen with the survivor having access to the remaining half until probate is granted when the frozen funds are distribution according to the will if there is one or according to the law if there is no will.

We have gone through the probate process both here and in the UK and it was much simpler and quicker here than in the UK and here probate is handled by a suitably qualified local public notary.
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Old May 14th 2019, 7:56 am
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Default Re: Property inheritance on death.

Hi, just looking in from the French forum - which I do frequently.
No idea how things work in Hungary, but France is certainly not partner 'friendly', and we always advise that partners should look at legalizing their union either by marriage or Pac's - the latter of which may or may not be an option in Hungary.
Even Pac'sed couple may find they cannot benefit from their departed partner's pension scheme, as I outlined in the last paragraph of the following linked post.
https://britishexpats.com/forum/fran.../#post10486570
Hope this info may be of some use.
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Old May 15th 2019, 10:05 am
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Default Re: Property inheritance on death.

Thank you both
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