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Turkish inheritance law

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Making a Will in Turkey

A will is a legal document that allows individuals to specify how their assets and properties should be distributed after their death. In Turkey, making a will is an important step in estate planning and ensuring the smooth transfer of assets to the intended beneficiaries. In this essay, we will explore the process of making a will in Turkey and the benefits it offers.

The first step in making a will in Turkey is to determine the assets and properties that will be included in the will. This can include real estate, bank accounts, investments, and personal belongings. It is important to have a clear understanding of the assets and their value to ensure an accurate distribution.

Once the assets have been identified, the next step is to appoint an executor. The executor is responsible for carrying out the instructions specified in the will and ensuring that the assets are distributed according to the wishes of the deceased. It is advisable to choose someone who is trustworthy and capable of handling the responsibilities associated with being an executor. On the other hand you do not have to choose an executor in Turkey… It is not obligation, a chose.

In Turkey, wills can be made in two ways: through a notary public or by a holographic will. A notarized will is prepared in the presence of a notary public and two witnesses. The notary public ensures that the will is legally valid and registers it in the Central Registry of Wills. On the other hand, a holographic will is a handwritten document that is signed and dated by the testator.

Another important consideration when making a will in Turkey is the tax implications. Inheritance tax is levied on the transfer of assets and properties from a deceased person to their heirs. The tax rates vary depending on the relationship between the deceased and the beneficiary. It is advisable to consult with a tax professional or legal expert to understand the tax implications and plan accordingly.

Making a will in Turkey offers several benefits. Firstly, it provides individuals with peace of mind knowing that their assets will be distributed according to their wishes. It also helps to avoid potential disputes among family members and ensures a smooth transfer of assets.

In conclusion, making a will in Turkey is an important step in estate planning. It allows individuals to specify how their assets and properties should be distributed after their death and ensures a smooth transfer of assets to the intended beneficiaries. It is advisable to seek legal advice and understand the tax implications to ensure compliance with the current regulations. By making a will, individuals can have peace of mind knowing that their assets will be handled according to their wishes and their loved ones will be taken care of.

To gain more information on forced heirship that can effect your will please read Probate in Turkey and Forced Heirship in Turkey

Post Author: brc-yilmaz_admin

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