If you are a testator or heir to a bank deposit, you may have the following questions:
- How to properly dispose of a bank deposit in case of death?
- What are the ways to manage a bank deposit?
- Is it possible to receive a bank deposit earlier than 6 months - the deadline for accepting an inheritance?
- What circumstances are considered significant for allowing the receipt of a bank deposit earlier than the deadline for accepting an inheritance?
- Allowable amounts to cover expenses in case of early permission to receive deposits?
- Is it possible for a notary to issue early permission at the request of the heir, if the contribution is bequeathed to another person in accordance with a will or testamentary disposition?
- Accounting for the mandatory part when issuing a certificate of inheritance for the right to deposit in a bank?
We will help you find answers to these, as well as any other questions that you may have when inheriting a bank deposit.
For questions about notarial registration of an inheritance (including a bank deposit), obtaining a certificate of the right to inheritance, please contact a notary Maydybura Oksana Vasilievna — contacts.
The rights of the testator
The depositor has the right to dispose of the right to a deposit in a bank (financial institution) in the event of his death by:
- making a will
- by making an appropriate order to the bank (financial institution)
- if you have done neither, then your deposit in the bank will be legally inherited
If you made an order to a bank (financial institution), and then made a will in which
- changed the person to whom the right to deposit should be transferred, or
- bequeath all property
The procedure for inheriting a deposit in a bank:
- filing an application for acceptance of inheritance
- the notary, at the initiative of the heir, makes a request to the bank (financial institution) about the presence of deposits in the name of the deceased
- banks (financial institution) submit information within the period specified by the notary
- the notary issues a certificate of the right to inheritance to the heir on the basis of documents confirming the testator's ownership of the corresponding deposit in the bank (financial institution)
As practice shows, there are frequent cases when heirs have a material need to receive a contribution earlier than the date of acceptance of the inheritance.
We will advise you on the possibility of obtaining early notary approval for part of the deposit in the bank.
Permission to receive part of the contribution
As a general rule, a certificate of the right to inheritance is issued to heirs six months after the opening of the inheritance. At the same time, the notary, before the expiration of the period for accepting the inheritance, may issue permission to the heir to receive part of the testator's deposit in a bank (financial institution), if this is due to circumstances of significant importance, namely:
- to cover the costs of caring for the testator during his illness
- for his burial
- for the maintenance of persons who were on the maintenance of the testator
- to cover the costs associated with notifying heirs of the opening of an inheritance
- to cover other expenses caused by circumstances of significant importance
Permission may be issued:
- to cover expenses already incurred
- to cover future expenses
Regardless of whether the deposit is inherited by law, testament or testamentary disposition, the bank pays the deposit (part of the deposit) to the heir of the account holder on the basis of:
- relevant certificate of inheritance
- notary's permission for the heir to receive part of the testator's contribution
- By the tribunal's decision
When inheriting a bank deposit in any of the above ways, there are many circumstances that may prevent the receipt of a deposit. Such circumstances may be caused not only by the actions of interested parties, the lack of supporting documentation, but also by the unregulated legislation of some issues related to the inheritance of the deposit. For example, what circumstances are considered significant in order for a notary to allow a part of the contribution to be inherited earlier than the deadline for accepting the inheritance?
In addition, the contributions are subject to the provisions of the law regarding the mandatory share in the inheritance, the right to which are minors, minors, adult disabled children of the testator, disabled widow (widower) and disabled parents of the testator.
The said persons shall inherit, irrespective of the content of the will, half of the share that would have been due to each of them in the event of succession by law. And this means that when determining the size of the mandatory share in the inheritance, the right to deposits in a bank (financial institution) is taken into account, for which the depositor made an order in case of his death.
But the obligatory share in the inheritance can be determined from the property not covered by the will. This requires the consent of the person entitled to a mandatory share in the inheritance. In case of disagreement, this share is determined from the entire composition of the inheritance. But situations are possible in which the value of property covered by a will may be significantly higher than the value of property not covered by a will.
In such situations, the mandatory share may be determined by a notary public from the entire composition of the estate, including bank deposits, in respect of which the depositor has drawn up a will or a testamentary disposition.
The amount of the compulsory part inherited by you or the deposit in the bank inherited by you also depends on the agreement with other heirs.
We will negotiate with other heirs regarding the acceptance of the inheritance and the settlement of possible disputes.
We will help you legally substantiate the arguments confirming that the coverage of other expenses is caused by circumstances of significant importance.
We will help you get a court decision, on the basis of which the bank will be able to pay you the deposit.