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Then it's finally decided. On 1 January 2021, the Inheritance Act of 1972 will be repealed, and a new Act on Inheritance and Estate Administration will come into force.
The new law does not offer any major substantive changes. There are little or no changes to inheritance rights for spouses and cohabitants. Cohabitants without common children still have no inheritance rights. All cohabitants should therefore still consider writing a will if they want to protect each other in the event of death.
The compulsory partial inheritance for life heirs is still 2/3 of the testator's wealth, but the total limit increases from one million to 15 G (approx. 1.5 million).
An important change in the new Inheritance and Succession Act is that the material aspect of the protection of the right to inherit ceases to apply. One consequence of this is that more people may benefit from drawing up a will that divides the assets between the heirs. As much as a quarter of today's inheritance settlements end in conflict. Many conflicts could be avoided with good inheritance planning. With the abolition of the protection of property, the testator can now to a greater extent plan which heirs will receive which assets.
Advokatfirmaet Halvorsen & Co As has several skilled lawyers who provide full-scale inheritance advice. Feel free to contact us to minimise the possibility of a future inheritance dispute.
When planning for old age and inheritance, remember the possibility of securing yourself against public guardianship, should you be unfortunate enough to become unable to look after your interests due to serious illness and cognitive impairment. With a Power of Attorney for the Future, you can customise how you want your personal and financial needs to be taken care of in a private law alternative to guardianship. You can choose who will act as your proxy and the scope of the authorisation. We believe that a power of attorney is one of the most important documents you can have, so please contact us for advice and information about power of attorney.
