Debts and inheritance

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A basic prerequisite for inheritance is the “existence of an estate.” It is necessary to distinguish between property rights and obligations that can be inherited and those that are non-inheritable.

These property rights are divided into two groups: assets and liabilities. Liabilities, which are a smaller group, include reasonable funeral expenses as well as debts and obligations of the decedent existing at the time of their death.

In this context, it is important to mention the principle of universal succession, meaning that as an heir to your parents, you step into their legal property relations in full extent — that is, not only their rights but also their obligations.

For this issue, the crucial provision is §470 of the Civil Code, which states:
“(1) The heir is liable up to the value of the acquired estate for reasonable funeral expenses of the deceased and for the deceased’s debts that passed to the heir upon death. (2) If there are multiple heirs, they are liable for the funeral expenses and debts in proportion to the share of the inheritance they acquired.” According to this provision, the principle applies that inheritance should not be a financial threat to heirs. Therefore, as an heir, you will be responsible for the liabilities mentioned only up to the value of the inheritance you receive.

If the value of liabilities exceeds the value of the inheritance, this is called extended inheritance. In such a case, you have the option under §471 of the Civil Code to enter into an agreement with creditors to transfer the inheritance to cover the debts. This agreement must be approved by the court, which usually approves it unless it conflicts with the law or good morals.

If you have any questions, please do not hesitate to contact us at recepcia@akmv.sk or by phone at +421 915 046 749.