*by Andrea Baroni Lugano*
Greece is heading towards a landmark reform of its succession law. On 20 April 2026, the proposed reform of the **Fifth Book of the Greek Civil Code** completed the public consultation stage, a mandatory step before the Bill is submitted to the Greek Parliament. Ludovico Guidi of Capital Trustees has commented on the proposal and its likely impact.
If adopted, the new framework would introduce significant changes to succession planning, property ownership and the liability of heirs, across four key areas.
**At a glance:**
– Introduction of **inheritance contracts** and rights-waiver agreements, previously unknown to Greek law
– The forced heirship share becomes a **monetary claim**, not automatic co-ownership of estate assets
– Heirs’ **personal liability for estate debts** would become the exception rather than the rule
– Inheritance rights extended to **new family structures**, including registered civil partners
## 1. Inheritance contracts and waiver agreements
The reform introduces inheritance contracts (agreements *mortis causa*) and contracts waiving future inheritance rights for the first time. These instruments would allow individuals to enter into binding succession arrangements in advance and to organise the post-death distribution of assets in a more structured and predictable manner — an option previously unavailable under Greek law.
## 2. Revision of the forced heirship system
The reform transforms the compulsory share from a direct property entitlement into a monetary claim. Forced heirs would no longer automatically acquire co-ownership of estate assets; instead, their entitlement would take the form of a financial claim enforceable against the heirs, subject to a two-year limitation period running from the point at which the beneficiary became aware of the claim.
## 3. Limiting heirs’ personal liability for estate debts
Under the current system, the inheritance automatically merges with the heir’s personal estate, exposing them to personal liability for the deceased’s debts unless they accept the inheritance with the benefit of inventory. The reform reverses this logic: heirs would no longer be personally liable for estate debts as a general rule. Personal liability would arise only in exceptional circumstances, for example where the heir:
– declares an intention to manage the estate freely;
– disposes of estate assets in breach of statutory restrictions;
– culpably reduces the value of the estate; or
– fails to satisfy estate creditors according to their statutory priority.
The aim is to end the common situation whereby the mere expiry of the renunciation period leaves heirs unexpectedly exposed to personal liability.
## 4. Recognition of new family structures
The reform extends inheritance rights to individuals who may not traditionally qualify as close relatives, such as partners in a civil partnership, so that modern family forms receive appropriate legal recognition.
> “The reform aims to modernize a core area of private law and adapt Greek succession law to contemporary economic and social needs. A key objective is to reduce the risk of heirs facing unexpected personal financial exposure. By limiting this risk, the reform may encourage acceptance of inheritances and address a long-standing problem whereby heirs have sometimes renounced estates. Additionally, the introduction of inheritance contracts enhances continuity and stability, allowing structured succession planning and the transfer of assets to specific successors, an option previously unavailable under Greek law. Overall, the reform replaces the Fifth Book of the Greek Civil Code. It is therefore not merely an update, but a fundamental rethinking of how wealth is transferred across generations.”
>
> — **Ludovico Guidi**, Capital Trustees
## Why it matters beyond Greece
The reform is also relevant reading for Italian and Swiss clients with wealth interests in Greece. It confirms a broader European trend towards advance succession planning tools and towards greater protection of heirs from liability for a deceased’s debts — a logic not far removed from the reasons why, in Switzerland and in international practice, **the trust remains an effective vehicle for organising generational wealth transfer** during the settlor’s lifetime, reducing uncertainty and risk for beneficiaries.
*Source: Capital Trustees AG, commentary by Ludovico Guidi.*