Balkan Family Estates – Renouncing Entitlement
It has become increasingly common for people who have family members residing in the Balkan States of Bosnia, Croatia and Serbia to renounce their share in the family Estate.
People can relinquish their share by signing an Hereditary Statement or Naslednička Izjava in Serbian.
Renouncing entitlement to a portion of a family Estate is often done to ensure that only the members of the family still residing in the Balkans are beneficiaries to the Estate. The objective is to make managing an Estate that involves property easier, especially when the local law requires all members to agree on how property should be managed or disposed of.
Hereditary Statements are usually prepared in the relevant local language by a lawyer in the Balkans or by individuals themselves.
If one of your family members decides to write an Hereditary Statement, we suggest that a lawyer is consulted in the country in which your relatives are residing – this will ensure that the document is correctly prepared. This includes making sure the Statement is properly formatted and contains the right content. A lawyer can also advise your family whether an authority called a punomoć is required.
Our firm can help your family regarding an Estate in Bosnia, Croatia or Serbia by witnessing Hereditary Statements signed by people in Australia.
Regardless of the country, Hereditary Statements and associated documents are usually required to be signed in front of a Notary Public as part of the process of renouncing oneself as a beneficiary.
Once notarised, these documents may need to be authenticated or stamped with an Apostille by the Department of Foreign Affairs and Trade (DFAT). We can assist you by arranging for your documents to be notarised. Then you can take the notarised document to DFAT. Or for an administrative fee, we can arrange for authentication or the affixing of an Apostille by DFAT.