Greece introduces new inheritance laws for businesses and assets

New inheritance laws in Greece are introducing significant changes regarding the transfer of assets and businesses. The reforms focus on three main areas: the introduction of inheritance contracts, changes to the liability of heirs regarding inheritance debts, and new mechanisms to handle joint ownership of businesses or real estate.

Inheritance contracts allow individuals to organize the distribution of their estate or business activities with future heirs during their lifetime. This tool is designed to provide stability for family businesses by identifying successors in advance, thereby reducing the risk of business fragmentation and long-term legal disputes among heirs. The regulations also provide options for heirs to renounce their inheritance rights in advance.