How to Write a Will That Complies with Both Greek and International Laws

Table of Contents

• Introduction
• Understanding Greek Inheritance Laws
• International Laws and Wills
• Key Elements of a Valid Will in Greece
• Types of Wills Recognized in Greece
• Steps to Write a Compliant Will
• Special Considerations for International Assets
• Common Mistakes to Avoid
• Seeking Professional Assistance
• Updating and Reviewing Your Will
• Conclusion
• FAQs

Introduction

Writing a will is a crucial step in estate planning, ensuring that your assets are distributed according to your wishes after your passing. However, when you have connections to multiple countries or possess international assets, the process becomes more complex. This is particularly true for individuals with ties to Greece, as Greek inheritance laws have unique features that must be considered alongside international regulations. This comprehensive guide will walk you through the process of creating a will that complies with both Greek and international laws, helping you navigate the intricacies of cross-border estate planning.

Understanding Greek Inheritance Laws

Greek inheritance laws are based on the principle of universal succession, which means that heirs inherit not only the assets but also the liabilities of the deceased. The Greek Civil Code governs inheritance matters and provides a framework for both testate (with a will) and intestate (without a will) succession.

Key Aspects of Greek Inheritance Laws

1. Forced Heirship: Greece has a forced heirship system, which guarantees certain close relatives (such as children, parents, and spouse) a minimum share of the estate, regardless of the deceased’s wishes.

2. Reserved Portion: The reserved portion (νόμιμη μοίρα) is the part of the estate that must be left to forced heirs. This typically amounts to half of what they would have received under intestate succession.

3. Freedom of Testation: While forced heirship limits complete freedom, testators can still dispose of the remaining portion of their estate as they wish.

4. Jurisdiction: Greek courts have jurisdiction over the entire estate of Greek citizens, regardless of where the assets are located.

International Laws and Wills

When dealing with international assets or beneficiaries, several international conventions and regulations come into play:

EU Succession Regulation (Brussels IV)

This regulation, which came into effect in 2015, allows individuals to choose the law of their nationality to govern their entire estate, even if they reside in another EU country. However, it’s important to note that while Greece is a member of the EU, it did not opt into this regulation.

Hague Convention on the Conflicts of Laws Relating to the Form of Testamentary Dispositions

This convention, to which Greece is a signatory, provides for the mutual recognition of wills that are valid under the laws of certain countries connected to the testator or the will itself.

Bilateral Treaties

Greece has signed bilateral treaties with several countries regarding inheritance matters. These treaties may affect how your will is interpreted and executed.

Key Elements of a Valid Will in Greece

To ensure your will is recognized and enforceable in Greece, it must meet certain criteria:

1. Testamentary Capacity: The testator must be of sound mind and at least 18 years old.
2. Voluntary Act: The will must be made freely, without coercion or undue influence.
3. Clear Intent: The testator’s intentions must be clearly expressed.
4. Proper Form: The will must be in one of the forms recognized by Greek law.
5. Signature: The will must be signed by the testator (except in extraordinary circumstances).
6. Date: The will should be dated, although this is not always mandatory for validity.

Types of Wills Recognized in Greece

Greek law recognizes several types of wills, each with its own requirements:

1. Holographic Will (Ιδιόγραφη διαθήκη)

This type of will is entirely handwritten, dated, and signed by the testator. It does not require witnesses but must be submitted to a court for validation after the testator’s death.

2. Public Will (Δημόσια διαθήκη)

A public will is drafted by a notary public in the presence of three witnesses or a second notary and one witness. This type of will offers the highest level of legal certainty.

3. Secret Will (Μυστική διαθήκη)

The testator presents a sealed document to a notary in the presence of three witnesses, declaring it to be their will. The notary then drafts an act of deposit on the envelope.

4. International Will

While Greece has not ratified the Washington Convention on the Form of an International Will, such wills may still be recognized if they comply with Greek law or relevant international agreements.

Steps to Write a Compliant Will

To create a will that complies with both Greek and international laws, follow these steps:

1. Choose the Applicable Law: Decide whether you want Greek law or the law of another country to govern your estate. This choice should be explicitly stated in your will.
2. Select the Type of Will: Based on your circumstances, choose the most appropriate form of will recognized in Greece.
3. List Your Assets: Create a comprehensive inventory of your assets, both in Greece and abroad.
4. Identify Beneficiaries: Clearly name your intended beneficiaries, keeping in mind the forced heirship rules if Greek law applies.
5. Appoint an Executor: Choose someone trustworthy to manage your estate and carry out your wishes.
6. Address Specific Bequests: If you wish to leave particular items to certain individuals, state this clearly.
7. Consider a Residuary Clause: Include a provision that addresses how to distribute any remaining assets not specifically mentioned.
8. Include a Revocation Clause: State that this will revokes all previous wills and codicils.
9. Sign and Date: Ensure the will is properly signed and dated according to the requirements of the chosen form.
10. Seek Professional Review: Have a legal professional review your will to ensure compliance with all relevant laws.

Special Considerations for International Assets

When dealing with assets in multiple countries, additional steps may be necessary:

1. Multiple Wills

Consider creating separate wills for assets in different jurisdictions. This can simplify the probate process and ensure compliance with local laws. However, ensure that these wills do not accidentally revoke each other.

2. Asset Location

Clearly identify the location of all assets, especially those held internationally. This information will be crucial for executors and beneficiaries.

3. Currency Considerations

If leaving specific monetary bequests, consider specifying the currency to avoid confusion or potential disputes.

4. Tax Implications

Be aware of the potential tax consequences in each relevant jurisdiction. Consider consulting with tax professionals in both Greece and the countries where you hold assets.

Common Mistakes to Avoid

When creating a will that spans multiple jurisdictions, be careful to avoid these common pitfalls:

1. Ignoring Forced Heirship: Failing to account for Greek forced heirship rules can lead to challenges to your will.
2. Overlooking Formalities: Each type of will has specific requirements. Failing to meet these can invalidate your will.
3. Neglecting to Update: Life changes, such as marriages, divorces, or births, may necessitate updates to your will.
4. Assuming Universal Application: A will valid in one country may not be automatically recognized in another.
5. Imprecise Language: Vague or ambiguous terms can lead to disputes and misinterpretations.

Seeking Professional Assistance

Given the complexity of creating a will that complies with both Greek and international laws, it’s highly advisable to seek professional assistance. Consider consulting with:

• A Greek lawyer specializing in inheritance law
• An international estate planning attorney
• A notary public familiar with Greek will requirements
• Tax advisors in relevant jurisdictions

These professionals can help ensure that your will is legally sound, tax-efficient, and truly reflects your wishes while complying with all applicable laws.

Updating and Reviewing Your Will

Creating a will is not a one-time event. Regular reviews and updates are essential to ensure your will remains valid and reflects your current wishes. Consider reviewing your will:

• After major life events (marriage, divorce, birth of children)
• When acquiring significant new assets
• If you move to a different country
• At least every 3-5 years

When making changes, ensure that you follow the proper legal procedures. In Greece, this typically means creating a new will or a formal codicil, rather than simply marking up the existing document.

Conclusion

Writing a will that complies with both Greek and international laws requires careful consideration and attention to detail. By understanding the key principles of Greek inheritance law, recognizing the impact of international regulations, and following the steps outlined in this guide, you can create a legally sound will that effectively distributes your assets according to your wishes. Remember that while this guide provides a comprehensive overview, the complexities of cross-border estate planning often necessitate professional legal advice. By taking the time to create a properly structured and legally compliant will, you can ensure that your legacy is preserved and your loved ones are provided for, regardless of international boundaries.

FAQs

1. Can I write my Greek will in English?

While it’s possible to write a will in English, it’s generally advisable to have it in Greek, especially if it’s a holographic will. If you choose to write in English, consider having an official Greek translation prepared to avoid any potential issues during probate.

2. How does Greek inheritance tax work for international assets?

Greek inheritance tax applies to worldwide assets of Greek residents and Greek assets of non-residents. Tax rates vary depending on the relationship between the deceased and the beneficiary. However, there may be provisions to avoid double taxation if inheritance tax has been paid in another country.

3. Can I disinherit my children under Greek law?

Due to forced heirship rules, it’s very difficult to completely disinherit children in Greece. They are entitled to a reserved portion of the estate. However, there are limited circumstances under which a testator can reduce this portion, such as in cases of serious misconduct by the child against the parent.

4. What happens if I die without a will in Greece?

If you die intestate (without a will) in Greece, your estate will be distributed according to the rules of intestate succession outlined in the Greek Civil Code. These rules prioritize close family members, with specific shares allocated to spouses, children, parents, and siblings.

5. How can I ensure my Greek will is recognized in other countries?

To increase the likelihood of your Greek will being recognized internationally, consider these steps: 1) Explicitly state the law you want to govern your estate, 2) Ensure your will complies with the Hague Convention on the Form of Testamentary Dispositions, 3) Consider creating separate wills for assets in different countries, and 4) Have your will notarized and apostilled for use in countries that are signatories to the Hague Apostille Convention.

Article reviewed by Marco Rossi, Private Equity Portfolio Director | Transforming Distressed Assets into High-Performance Investments, on March 1, 2025