Deposit by inheritance – how to register the right to a bank deposit

The depositor has the right to dispose of the right to a deposit in the bank in the event of his death by drawing up a will or a corresponding order to the financial institution. This is stated in Article 1228 of the Civil Code of Ukraine.

As in the comment Focus noted Anna Daniel, manager of the Anna Daniel law office, the right to contribute is part of the inheritance, regardless of how it is disposed of. At the same time, she noted that a will drawn up after the bank’s order was made completely or partially revokes it if the will changes the person to whom the right to the deposit should pass, or if the will concerns the entire property of the testator.

“In the event of the death of the owner of a bank deposit, the right to it passes to the heirs. If the owner of the deposit did not leave a will, then his close relatives are the heirs, in accordance with the procedure established by law. Inheritance by law occurs when there is no will. The heirs receive the right to inherit one by one,” she explained.

Inheritance with money in the bank: when and who to contact

Regardless of whether the depositor has made a will, the notary is responsible for clarifying the rights to his deposit.

In order to accept an inheritance, you need to contact a notary (in rural areas – an authorized official of the relevant local government body). Important point: you need to do this exactly before the expiration of six months from the date of death of the testator. There are currently no exceptions regarding the timing of accepting an inheritance in connection with the introduction of martial law on the territory of Ukraine. Therefore, accepting an inheritance on time is very important, since the person’s right to register an inheritance will depend on this in the future.

Lawyer of EvrikaLaw JSC Andrey Shelikh added that the investor’s heirs must receive a certificate of right to inheritance.

“An heir who permanently lived with the testator at the time of opening of the inheritance is considered to have accepted the inheritance if, within six months from the date of opening of the inheritance, he did not declare his refusal from it. If the heir wishes to accept the inheritance, but at the time of its opening did not permanently reside with testator, he must submit an application to the notary’s office to accept the inheritance,” adds Andrey Shelikh.

In the absence of a will and a bank order, the inheritance of a bank deposit is carried out on the basis of the provisions of the Civil Code of Ukraine on inheritance by law, defined in Chapter 86 of the Civil Code of Ukraine.

The managing partner of S.L.A. JSC, lawyer Roman Mikhailovsky, described step by step what needs to be done to inherit a bank deposit if there is no will or special order:

• contact a notary to open an inheritance case;
• obtain a certificate of inheritance from a notary;
• contact the bank where the deposit is located and present documents confirming the inheritance of the right to the bank deposit;
• fill out the list of documents specified by the bank and undergo identification at the bank;
• expect funds to be transferred from the deposit to the heir’s account.

“It is worth noting that the Civil Code of Ukraine does not directly establish requirements for drawing up a bank order regarding the right to a deposit in the event of death, however, it should be borne in mind that the order may be contained in the text of the bank deposit agreement or stated in a separate document,” explained lawyer Andrey Shelikh.

If the owner of the deposit did not leave a will: who has the right to inheritance?

In the absence of a will, the notary introduces inheritance by law. In this case heirs receive the right to inherit one by one, as stated in Article 1258 of the Civil Code of Ukraine.

“First of all, the right to inheritance according to the law belongs to the children of the testator, including those conceived during the life of the testator and those born after his death, the spouse who survived him, and the parents,” explains lawyer Anna Daniel.

In the future, the queue for inheritance is distributed as follows:

• the second right to inherit by law are the testator’s siblings, his grandmother and grandfather, both on the father’s and mother’s sides;
• in the third place, the testator’s uncle and aunt have the right to inherit by law;
• in fourth place – persons who lived with the testator in the same family for at least five years before the opening of the inheritance;
• fifthly, other relatives of the testator up to the sixth degree of kinship inclusive have the right to inherit by law, and relatives of a closer degree of kinship exclude relatives of a further degree of kinship from the right to inherit.

How to get funds from a bank if there is no will

According to experts, the testator, at his own disposal, can determine one or more persons to whom the right to the contribution will be transferred, and the amount of the contribution in shares. When, if the shares are not determined, each of the heirs will have the right to contribute in equal parts.

Important

To receive funds, the heir must provide the bank with the following documents:

• certificate of inheritance;
• passport or other identity document;
• registration number of the taxpayer’s account card (RNUKPP);
• death certificate of the depositor (provided in some cases at the request of the bank).

“Inheritance on the basis of a special order in a bank will take place if the depositor did not draw up a will at all or if an order made after drawing up a will completely or partially revokes the will. It is worth noting that the Civil Code of Ukraine does not directly establish requirements for drawing up a bank order regarding the right to a deposit in the event of death, however, it should be taken into account that the order may be contained in the text of the bank deposit agreement or stated in a separate document,” explained Focus lawyer at EvrikaLaw JSC Andrey Shelikh.