When you are about to acquire or have already bought assets in Turkey, then you should consider how your property will be dealt with after you die to ensure a smooth administering for your loved ones.
Inheritance laws and will vastly differ in Turkey as spouses and blood relatives are automatically qualified for your assets. Turkish will be the only way you can have a say on how you would like your estate in Turkey to be distributed after you are gone.
Why Do You Need to Make a Turkish Will?
In the event of your sudden death, your assets will be distributed according to the law of intestacy and this is a complicated affair. With the help of Turkish Will, you will help your successor to save money and time.
Dying intestate can have more complications as per the Turkish inheritance law; your life partner will not be entitled to your properties.
What Will Happen in The Case of Intestacy?
If you die intestate; the entire property of yours will be distributed between the heirs as follow:
● Children are the first statutory heirs of the deceased.
● If there are no children of the deceased then the parents are the statutory heirs.
● If the parents are also dead then grandparents of the deceased and their offspring are the statutory heirs.
● The spouse of the inheritance with the deceased’s father, mother, and their offspring then has a statutory share of one half.
● If none of the deceased’s next kin survives, then the entire estate goes to the surviving spouse.
● If the deceased has no survivors left then the estate becomes the property of the state.
It is important to note that the offspring’s of any statuoary heir will inherit the rights to their parents’ or grandparents’ share if any statutory heir passes away before the legator or denounces their share.
Also, if a statutory heir is well and alive from any of the abovementioned steps, that step will receive all of the estate and none will pass on to the next step.
What Is the Reserved Portion in Turkish Law?
It is the proportion of the statutory share to which each heir falls under statuary is entitled by intestate succession.
The reserved portion is defined as per the Civil Code of Turkey:
● Children will receive 75%
● Father and mother will receive 50%
● Brother and Sister will receive 25%
● Surviving spouse with no children will receive 50% of the share
Making a will for your properties is very important as you will be able to specify the person you want to inherit your property after your death. It will eliminate any complication and prove a swift procedure for your successor.