Growing Trend: Hungarian Couples Clarify Inheritance through Wills
Increase in Wills Aims to Prevent Disputes Over Marital Assets
In Hungary, more couples are using wills to specify inheritance rights for surviving spouses, according to the Hungarian Chamber of Civil Law Notaries.
The number of wills rose by nearly 10% in the first half of this year, continuing a trend seen last year when wills also increased by 10% from the previous year.
Under Hungarian law, a deceased person’s estate passes to heirs through a will, or via legal inheritance if no will exists.
Most couples own property jointly, yet often only one partner’s name is listed, leading to complications during inheritance.
Common law grants the surviving spouse lifelong usufruct of the jointly-occupied home and a child’s share from the remainder of the estate.
Challenges arise if disputes occur over ownership claims outside official registrations, potentially prolonging estate settlement for years.
Tóth Ádám, head of the Hungarian Chamber of Civil Law Notaries, highlights that wills can prevent lengthy legal battles by clearly outlining asset ownership, including distinctions between joint and separate properties.
Couples can also establish a prenuptial agreement to clarify shared and individual assets, requiring formal notarization or legal review to be valid and recorded in the national registry for enforceability.
This ensures considerations during estate proceedings.
The number of wills rose by nearly 10% in the first half of this year, continuing a trend seen last year when wills also increased by 10% from the previous year.
Under Hungarian law, a deceased person’s estate passes to heirs through a will, or via legal inheritance if no will exists.
Most couples own property jointly, yet often only one partner’s name is listed, leading to complications during inheritance.
Common law grants the surviving spouse lifelong usufruct of the jointly-occupied home and a child’s share from the remainder of the estate.
Challenges arise if disputes occur over ownership claims outside official registrations, potentially prolonging estate settlement for years.
Tóth Ádám, head of the Hungarian Chamber of Civil Law Notaries, highlights that wills can prevent lengthy legal battles by clearly outlining asset ownership, including distinctions between joint and separate properties.
Couples can also establish a prenuptial agreement to clarify shared and individual assets, requiring formal notarization or legal review to be valid and recorded in the national registry for enforceability.
This ensures considerations during estate proceedings.
