As of: March 10, 2024, 5:21 a.m
By: Laura Hindelang
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An estate inventory lists what a deceased person leaves behind, including assets and debts.
In some cases, the creation of the directory is mandatory.
An estate register provides an overview of the assets, debts and liabilities of the deceased.
It is a comprehensive and detailed list of finances and all financial obligations.
This can be helpful for the heirs, especially if a community of inheritance is created.
Especially if the estate is very extensive and the heirs lack an overview.
When does an estate register have to be created?
The estate register also forms the basis for determining the value of the estate, informs the
Inheritance Center
.
The value plays an essential role in some cases - therefore, in certain situations, creating the estate inventory is an obligation that the heirs must fulfill:
An estate register creates an overview of all estate items and estate liabilities.
© Westend61/Imago
Applying for the certificate of inheritance:
The certificate of inheritance is court-issued proof of who is the heir and how large the share of the inheritance is.
In order to apply for the certificate of inheritance, the probate court needs the net value of the estate.
The purpose of the estate register is then to determine the fees for the inheritance certificate application.
Lawyers Rose & Partner
inform us that the amount depends on the value of the estate
.
The requirements for the estate register, such as how detailed the information must be, depend on the respective court.
For those entitled to a compulsory share:
People who have been disinherited are entitled to a compulsory share of the inheritance.
In order to determine the exact amount of the share, the inheritance community must submit a list of the estate.
The disinherited person can also request that the listing be drawn up by a notary.
The resulting fees are paid from the estate.
For underage heirs:
As the
Erblotse
portal informs, the parents of a underage heir must create an estate register and submit it to the family court if the inheritance exceeds a value of 15,000 euros and the deceased has not made any other instructions in the last will and testament.
When making an inheritance tax return:
The heirs are obliged to report the inheritance to the responsible tax office.
If the authority requires an inheritance tax return, an estate list must be attached to it.
In other cases, an estate register is not mandatory, but is useful.
For example, the Erbloste
portal recommends “appropriate and conflict-free distribution” among the heirs
.
The list can serve as a basis for distributing the necessary administrative measures and for distributing the estate within the inheritance community in accordance with the will of the testator.
The heirs can create the estate list themselves
However, heirs are not obliged to create an estate register for other co-heirs, explain the
lawyers Rose & Partner.
Because of their position as universal legal successor, each co-heir has the legal opportunity to obtain all information themselves.
However, the situation is different if co-heirs have taken possession of certain estate items, such as the deceased's car.
In this case, according to the lawyers, the “right to information from the owner of the inheritance” applies.
This means that the person who has claimed the property must inform the co-heirs of this upon request.
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It is also useful to create an estate register if the estate could possibly be over-indebted.
Heirs can then better assess whether they should accept or reject the inheritance.
The
Inheritance Center
also points out that an estate register can be helpful in achieving estate administration or estate insolvency proceedings.
Both options offer heirs the advantage of limiting their liability to the estate.
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The heirs can create the estate register themselves.
Unless the deceased has appointed an executor.
Then this task falls to him.
According to Erblotse
, costs are
only incurred if the help of a lawyer or tax advisor was sought or the estate register was drawn up by an authority or a notary.
Additional costs may arise if an expert is called in - for example to determine the value of a property.
What must be in an estate register
According to the
Inheritance Center,
a notarial estate register is always viewed as complete and correct.
Things look different when the list comes from the heirs themselves.
If there is any suspicion that it may be incorrect or incomplete, a notarial estate register can also be requested.
If the heirs have sworn an affidavit, they can be prosecuted if they make false statements.
It is therefore important to be very meticulous when creating the estate inventory.
The list broadly consists of three parts: general information about the testator, assets, debts and liabilities.
The following points are listed below in detail:
General information about the testator:
name and date of birth, date of death, last residential address, matrimonial property regime (if married), inheritance, certificate of inheritance, persons entitled to a compulsory share
Assets:
Vehicles, houses, apartments and land, jewelry, furniture, cash, bank balances and financial assets.
Debts and liabilities:
outstanding loans and loans that the deceased took out during his lifetime and have not yet repaid, insurance contracts.
The individual items must be described in as much detail as possible in the estate register, informs the
Inheritance Center
.
For example, when listing a vehicle, the registration number, information about the model, manufacturer, year of construction and mileage must also be stored.
For real estate, information about the property, if applicable tenant list and rental income.
For company shares, the company name, commercial register entry, share and address.