Statement of assets in the case of an inheritance

If you have become an heir, it is in your own best interest to draw up a statement of assets. If you find out that the estate is over-indebted, you can turn down the inheritance within a period of six weeks from the date of the inheritance.

If you fail to meet this deadline, you will be liable to the testator's creditors with your own assets. If necessary, you can then still apply for bankruptcy.

As an heir, you must provide information

• The probate court will ask you as the heir to draw up a statement of assets and submit it to the court. The background to this is to determine whether the estate values ​​have the tax allowances to which you are entitled (Spouses: € 500,000, children: € 400,000, as of 2012) and you are liable to inheritance tax are.
• In addition, a person entitled to a compulsory portion who is not himself an heir can request information from you about the existence of the estate (Section 2314 BGB). The person entitled to a compulsory portion can namely demand half of the statutory portion to which he is not entitled. Its value depends on the value of the estate.
  instagram viewer
• As the heir, you are entitled to take the estate into your own personal possession. Go through all the documents. Then compile the statement of assets in a list.


Applying for a certificate of inheritance and filling out the form for the register of estates - you should bear this in mind

You become an heir by virtue of legal succession or a will. Therefore …

Statement of assets includes assets and liabilities

• Determine the amount of cash, the balance at savings banks, Banks and building societies as well as the portfolio of securities. The deadline is the day of death of the testator.
• Check whether the testator has claims against third parties from loans, tenancies, employment relationships, life insurance or tax refund claims.
• Enter valuable collections (antiques, postage stamps), works of art and Jewellery as well as usable furnishings of the household items. Describe the items and estimate their value.
• Describe the testator's business interests.
• Record the property of the testator. Estimate the value based on the living space, the year of construction and the structural condition. Orientate yourself on the fire insurance certificate of the building insurance.

Liabilities reduce the value of the estate

• On the liabilities side of the statement of assets, the estate liabilities are to be recorded on the day of death. These include mortgages and land charges on the property, rent and tax arrears, medical expenses, but above all those costs the funeral.
• When you deduct the liabilities from the assets, you get the value of the estate. If you have any doubts about individual values, you should commission an expert to prepare an expert report.
• Draw up the statement of assets honestly. You may have to affirm your information or have it checked by the authorities.