Keuzemogelijkheden engels
The law gives a beneficiary a number of options to determine his/her position
The estate is accepted unconditionally
As a beneficiary you inherit part of the possessions, but you also bear the debts (if any). The debts must be paid even if the debts exceed the revenues of the estate.
The estate is accepted under the benefit of inventory
In that case the beneficiary is not liable for the debts of the estate with his/her entire assets. Creditors can recover only from the possessions belonging to the estate.
This manner of acceptance is indicated if it is unclear whether the debts exceed the value of the possessions. The law sometimes makes acceptance under the benefit of inventory mandatory, for example if a minor inherits.
The disadvantage of this manner of acceptance is that the estate must be settled (‘liquidated’) according to strict rules (making an estate inventory, calling upon creditors to submit their claims, paying creditors, notifying the court if the estate is negative etc.) and that extra costs are involved. This liquidation applies even if there are beneficiaries who have accepted unconditionally.
The estate is rejected
In that case, all claims on the estate will lapse. The beneficiary who rejects the estate will be deemed never to have been a beneficiary. Nor will any liability for debts arise. The share in the estate of someone who rejects it (depending on the will) will then be acquired by his/her children and if there are no children, by the other beneficiaries according to the law.