Securing Your Legacy in Istanbul: A Guide to Inheritance Law for Expatriates

Turkey’s allure as a vibrant destination for expatriates is undeniable. For those who have chosen to call it home or have made an investment in Istanbul, understanding the nuances of Turkish inheritance law is paramount. At Estates Istanbul, our in-house law department is dedicated to ensuring that you are well-informed and your investments are secure.

The Essence of Turkish Inheritance Law

The Turkish Civil Code, or ‘Miras,’ is the cornerstone of inheritance law, designed to safeguard the interests of family members. Whether you’re an expatriate or a local, Estates Istanbul ensures that the transfer of your assets, particularly in Istanbul projects, is handled with utmost care.

Decoding Inheritance: What Does It Encompass?

Inheritance includes all assets left by a deceased individual, such as real estate, financial assets, and even debts. Heirs have the right to either accept or decline the inheritance, with significant legal and financial consequences.

Identifying the Heirs: The Hierarchy of Inheritance

In the absence of a will, Turkish law delineates a clear hierarchy. The spouse and children are the primary heirs, followed by parents, siblings, and then extended family. Estates Istanbul’s legal experts ensure that your Istanbul property investment is distributed in accordance with these legal frameworks.

The Inheritance Process for Turkish Citizens

Upon the death of a Turkish citizen, a ‘Death Notification’ triggers the inheritance process. Heirs can obtain a ‘certificate of succession,’ which outlines the rights to both movable and immovable property. This certificate is the key to dividing the inheritance after the necessary taxes have been settled.

Inheriting as a Foreigner in Turkey

For foreign nationals, inheriting property operates similarly to that for Turkish citizens, with some additional steps. Estates Istanbul assists in procuring the required ‘Certificate of Right to Inheritance’ and ‘Marriage Registration Document’ from the expatriate’s home country.

Simplifying International Inheritance

For countries within the Hague Convention, the process is streamlined. For others, additional agreements or legal proceedings may be necessary. Estates Istanbul is adept at navigating these international waters, ensuring your investment in Istanbul is inherited seamlessly.

Understanding Your Share of Inheritance

Turkish inheritance law specifies the distribution of property in the absence of a will:

• If the deceased leaves behind a spouse and children, the spouse receives 1/4, and the children share 3/4 equally.
• Without children, the spouse receives 1/2, with the remainder divided among the deceased’s parents and siblings.
• If there are no children or parents, the spouse gets 3/4, with the rest going to the grandparents and their descendants.
• A surviving spouse with no other heirs inherits everything.
• In the absence of a spouse, the children inherit the entirety.
• Without any heirs, the estate defaults to the Turkish government.

Estates Istanbul ensures that your Istanbul projects are bequeathed accurately according to these legal stipulations.

The Critical Role of Will Writing

To direct the distribution of your assets, including your Istanbul property investment, writing a will is essential. Turkish law recognizes three forms of wills, and our legal experts can guide you through each to ensure your wishes are legally documented.

Navigating Inheritance Tax in Turkey

Inheritance tax rates in Turkey vary from 1% to 30%, influenced by the value of the estate and the relationship to the deceased. Estates Istanbul provides a clear breakdown of these rates, which are as follows:

• 1% for estates valued at €53,333 or less.
• 3% for estates up to €170,000.
• 5% for estates up to €426,667.
• 7% for estates up to €926,667.
• 10% for estates exceeding €926,667.

These taxes are payable over three years, with payments due in May and November annually.

Your Partner in Legacy Planning

At Estates Istanbul, we recognize the importance of securing your legacy. Our in-house law department stands ready to assist with every aspect of inheritance law, ensuring that your investment in Istanbul is a lasting testament to your foresight and dedication.

Your Legacy Secured

Choosing Estates Istanbul means opting for a partner who values your investment and legacy as much as you do. With our comprehensive legal support, your journey in Istanbul’s real estate market is assured, your rights protected, and your investments poised for a prosperous future.

Please visit the link to reach the GOVERNMENT ARTICLE.

Please Get reach us for the translation and more information