What is a bank transfer “in case of death” in Poland?

What is a bank transfer “in case of death” in Poland?

Recently, the “in case of death” bank transfer has become very popular in Poland. The account holder (in our case: the deceased in Poland) has the right to issue such an instruction.

The provision of a bank deposit consists in the fact that upon the death of the account holder, a certain pool of funds accumulated in it (not more than twenty times the average monthly salary in the Polish business sector determined according to specific rules for a given day in Poland – for the year 2019, the average monthly salary in Polish was PLN 4918,17) is not part of the inheritance thereafter, but is allocated to something designated by the account holder.

This can be a spouse, an ascendant, a descendant or a sibling. The “in case of death” deposit instruction may be changed or cancelled in writing by the Account Holder at any time – until the death of the Account Holder.

In the event that the account holder has placed more than one subscriber in the instruction, the account holder is required to indicate fractions or percentage shares of the individual subscribers in the total subscription amount.

The persons indicated in the “In the Event of Death” instruction provided by the Account Holder are entitled to withdraw the amounts due to them.

The amount paid under the subscription does not form part of the deceased Account Holder’s estate. It follows from the above that a person who has received an inheritance under the “in case of death” heir provision does not have to fear being sued by the heir’s family for a refund or a reserved share.

Our law firm is specialized in inheritance matters and can speed up the case as much as possible thanks to its experience in cooperating with the authorities and working with interpreters and bailiffs. The cost of legal advice in such a case starts at 200 euros.

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Inheritance in Poland