Inheritance certificates Curacao

20 augustus 2019

An inheritance certificate in Curacao is drawn up by a civil-law notary.
After all data has been checked, a notary declares who has died, whether the deceased has made a will and what has been determined in this will. In addition, the notary declares who the heirs of the deceased are and, if applicable, which of the heirs is authorized by the other heirs to settle the estate of the deceased.

Where do you need a certificate of inheritance?

If someone dies, a bank may block the accounts in the deceased’s name. If heirs still want to use the account (for example to make payments), they need a certificate of inheritance.
As soon as a certificate of inheritance has been submitted to the bank, the heirs can again dispose of the account in the name of the deceased. This account is often referred to as an inheritance account.
Many authorities also ask for a certificate of inheritance. As long as the bank or another body does not ask for a certificate of inheritance, it is not necessary to have a certificate of inheritance drawn up.

An inheritance certificate is not always necessary

In 2012, the government, together with the Dutch Banking Association, determined that in certain standard situations no certificate of inheritance is required. The conditions for this are:
There is a surviving partner (spouse or registered partner) and possibly children;
The deceased has not drawn up a will;
The total balance of all bank accounts of the deceased is less than NAF 100,000.

Sign statement at the bank

Instead of drawing up a certificate of inheritance, the survivor must sign a statement. This statement must be signed so that the bank cannot be held liable for the (legal and tax) consequences of the release of the bank accounts.
By signing this statement, the responsibility for releasing the bank accounts does not rest with the bank, but with the survivor. If the inheritance is negative (because there are many debts) the signed statement with the bank offers no protection. The certificate of inheritance does offer this protection because you can accept beneficially.



Are banks on Curacao allowed to block an account?

The banks are not allowed to block an account. A certificate of inheritance is required if you want to change the name of the account.

What does an inheritance certificate cost?

In Curaçao, the notarial rates for the most common deeds are set by the Common Court of Justice.
All rates are subject to 8.5% office and handling charges.
There are fixed rates, where deviation down or up is not possible. These rates apply to mortgage deeds, real estate transfers and auctions. Minimum rates have also been set for the handling of inheritances, division of assets after divorce, formation of limited liability companies and foundations, prenuptial agreements and wills. All notarized rates are subject to 6% Sales Tax. Seals must be affixed to every deed and attachment, namely NAƒ. 10, – per A-4. Those stamps are not subject to sales tax.
You can read more about the rates of the notary on Curacao here
This article was written by Adriaan Smit for more information you can contact us via email or Whats-app +59996862994

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