Inheritance and Succession Law in Monaco

Overview

Monaco inheritance law follows French civil law traditions with modifications. All successions must be handled through a notary and are subject to specific legal procedures and taxation.

Legal Framework

Statutory Succession

When no will exists:

• Order of heirs determined by law
• Children inherit first (equal shares)
• If no children: spouse inherits
• If no spouse: parents inherit
• Distant relatives inherit in order

Forced Heirship

Children cannot be disinherited:

• Reserved portion (reserve) protected
• Children entitled to share regardless
• Cannot be denied entirely
• Spouse has limited protection

Wills and Testaments

Requirements for valid will:

• Signed by testator
• Two witnesses present
• Notarized (recommended)
• Clear statement of intent
• Legal capacity of testator

Types of Succession

Testamentary Succession

With valid will:

• Testator's wishes followed
• Subject to forced heirship
• Notary executes instructions
• Court may be involved if contested
• Faster if unopposed

Legal Succession

Without will (ab intestat):

• Statutory order of heirs applied
• Children first priority
• Spouse shares in inheritance
• More complex process
• Court involvement often required

Mixed Succession

When will only addresses part:

• Will provisions apply to covered assets
• Legal succession for remainder
• More complex administration
• Notary coordinates both

Inheritance Process

Step 1: Declaration of Death

• Death must be registered
• Civil registry notification
• Necessary documents gathered
• Timeline to process: immediate

Step 2: Inventory of Estate

• Locate all assets and property
• Identify debts and liabilities
• Bank accounts identified
• Real property documented
• Moveable property catalogued

Step 3: Notification of Heirs

• Heirs identified and notified
• Requirements to inform within timeframe
• Contact information gathered
• Consent obtained for succession

Step 4: Notary Involvement

• Hire notary (required)
• Provide all documentation
• Valuation of estate
• Tax calculations
• Distribution plans

Step 5: Settlement of Debts

• Estate debts paid first
• Funeral expenses deducted
• Final tax returns filed
• Creditor claims satisfied
• Remaining assets distributed

Step 6: Distribution

• Heirs receive shares
• Documentation provided
• Property transfers completed
• Accounts closed/transferred
• Final accounting rendered

Wills and Testaments

Types of Wills in Monaco

Notarized Will (preferred):

• Most legally secure
• Witnessed by notary
• Reduces disputes
• Easy to probate
• Cost: €100-300

Handwritten Will:

• Less preferred
• Must be signed
• May be contested
• Harder to validate
• Avoid if possible

Public Will:

• Declared before witnesses
• Formal ceremony
• Notary required
• Highest legal standing

Creating a Will

1. Contact notary
2. Provide details of assets
3. Identify heirs and distributions
4. Draft will with lawyer if complex
5. Execute before notary
6. Store safely (notary keeps copy)
7. Inform heirs of location

Modifying a Will

• Create new will (revokes previous)
• Or execute codicil (amendment)
• Must follow same formalities
• Notary keeps all versions
• Can be changed multiple times

Tax Considerations

Inheritance Tax

For Monaco residents:

• Reduced rates
• Children: 0% (protected portion)
• Spouse: 0% (protected portion)
• Others: graduated rates

For non-residents:

• Higher rates apply
• Variable by relationship
• Can be substantial
• Planning important

Calculation

Tax calculated on:

• Net estate value
• After debts paid
• Fair market value of assets
• As of death date

Reductions and Exemptions

• Spouse generally exempt (Monaco)
• Children exempt to protected portion
• Donations within 6 years previous affected
• Life insurance proceeds may be excluded
• Specific rules for residents

Forced Heirship

Protected Portion

Children receive minimum:

• Half of inheritance (with one child)
• Half, divided among children (multiple)
• Cannot be completely disinherited
• Applies regardless of will

Spouse protection:

• Limited in Monaco law
• Community property rules apply
• Depends on marriage contract
• Marital regime determines rights

Can Be Overridden By

• Formal disinheritance (limited cases)
• Cause of action (estrangement, etc.)
• Not practical in most situations
• Legal challenges likely

Estate Administration

Notary's Role

• Required intermediary
• Represents all parties
• Handles all documentation
• Calculates taxes
• Distributes assets
• Cost: 1-3% of estate

Timeline

Special Situations

Foreigner's Estate

• Monaco law applies if died in Monaco
• Or last residence in Monaco
• Foreign assets subject to own country's law
• Coordination may be needed

Non-Resident Heir

• Can inherit Monaco property
• Tax implications depend on status
• May need to register with authorities
• Legal representation recommended

Disputed Succession

• Court intervention required
• Extended timeline (months/years)
• Expensive legal process
• Evidence and arguments presented
• Judge determines distribution

Debts Exceeding Assets

• Heirs may renounce inheritance
• Liability protection available
• Process must be formal
• Court may be involved
• Professional advice recommended

Preventing Disputes

Clear Estate Planning

• Professional will drafted
• Notarized and witnessed
• Preferences clearly stated
• Executors appointed
• Assets clearly titled

Communication

• Inform heirs of plans
• Explain distributions
• Address concerns early
• Update as life changes
• Regular review recommended

Documentation

• Maintain complete records
• Asset titles clear
• Bank statements organized
• Debt documentation preserved
• Keep with will at notary

Costs

Important Contacts

• Notary (Notaire): Required for all formal succession
• Tax Authority: For inheritance tax calculations
• Court (Tribunal): If disputes arise
• Legal Counsel: For complex estates

Next Steps

1. Review current will (or create if absent)
2. Meet with notary for consultation
3. Document all assets and debts
4. Identify intended heirs
5. Draft will with legal help
6. Execute formally before notary
7. Store safely and inform executors
8. Review periodically (every 5-10 years)
9. Update upon major life changes

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Official Sources & Verification

This guide is based on Monaco's inheritance law and procedures maintained by MonServicePublic.gouv.mc and Monaco's notary regulations.

Last Verified: 2026-04-06 Status: Active and operational