Waiting for your inheritance? Let’s face it, nobody likes suspense (unless it’s in a thriller). When it comes to inheritance, though, most people would rather see the plot move along quickly. So, how long can a notary actually keep your inheritance? The answer may shock you—unless, of course, you’ve read the fine print. Let’s open the envelope and reveal the secrets behind what really happens with your money after a loved one’s passing.
The Role of the Notary: More Than Meets the Eye
The notary is an essential professional in several legal procedures, but when it comes to inheritance—otherwise known as succession—their role is not just a necessary formality. Handling the distribution of an estate after a death is one of their main missions. But, here’s the twist: contrary to popular belief, the notary does not keep your inheritance money lounging in their own account, cackling in a dark velvet chair. The deceased’s money remains blocked in their bank account until it’s time for distribution.
So, what does the notary actually do?
- They coordinate the transfer of assets and capital after death.
- They organize the succession process, ensuring everything runs smoothly and legally.
- They don’t personally hang on to your cash—it waits in a special account, not to be withdrawn or deposited at will.
The Succession Sequence: Step-by-Step (No Fast-Forward Button)
Distribution of inheritance isn’t a wild free-for-all. Whether or not the deceased left a will makes a big difference. If there’s no testament, the estate (that is, both assets and money) is divided among legitimate heirs, typically the children and spouse, provided the marriage was still in effect. If there is a will, part of the estate must still go to heirs by blood right, but the remainder can be left to anyone the deceased chooses—including non-family members, via legacy.
Here’s what the process includes, all under the watchful eye of the notary:
- Verifying everyone involved in the succession process
- Checking for a will or any living gifts made by the deceased
- Making sure all debts and outstanding expenses are settled
Until these hurdles are cleared, the notary can’t touch—or distribute—the money. Instead, the funds are parked safely in a dedicated account called an “indivis” account, never mixed with any professional or personal account of the notary. No withdrawals, no deposits, no touching the balance. Only once every issue is resolved does the calculator come out and the distribution of shares (and money) begin.
Taxes: The Unexpected Plot Twist
Of course, it wouldn’t be a real-life mystery without a subplot. Enter: inheritance tax (or, as they say, “droits de succession”). This is a progressive tax, the rate of which depends on the financial connection between the deceased and the successor. Direct heirs typically pay the least—good news for kids and spouses. Siblings, surviving spouses, or registered partners in some cases may even be exempt—yes, there’s hope! As for everyone else, brace yourself: the rates can climb dramatically.
Here’s what the state might take:
- Between 5% and 45% for direct-line heirs
- Between 35% and 45% for inheritances between siblings
- 55% for inheritances to relatives up to the fourth degree
- Up to 60% for all other heirs
It’s proof, if you needed it, that nothing in life—or death—is ever fully tax-free.
Is There a Difference Between Inheritance and Succession?
Let’s clear up one last potential mystery: are “succession” and “inheritance” actually different things? Despite the two terms appearing in legal documents and family arguments, they mean the same thing. Both refer to the event of receiving property or money from someone who has passed away. Easy as pie (if that pie wasn’t being divided into 15 legally defined slices).
Final Advice: As much as we’d like to think a notary hoards your inheritance out of malice or personal gain, the reality is much less cinematic. Their involvement is a safeguard, making sure that everyone gets what they’re due—and that the taxman does, too. So, if the process seems slow, remember: it’s not about keeping your fortune hostage, but ensuring everything is fair and above board. Patience, as they say, is part of the inheritance.
