Into good hands. Amendments to inheritance law are coming into force from June / Delovoy Peterburg
Large estates have emerged in Russia quite recently. Their owners, however, have already started thinking about the destiny of their property. The government is persevering in its attempts to have the foreign assets of its citizens returned home. In so doing, it has to offer to its businessmen a new tool to dispose of their estates, and this should be competitive with foreign alternatives.
Starting from 1 June 2019, the legislature is introducing two new institutions in inheritance law: a joint will and an inheritance agreement. These will help entrepreneurs to determine what happens to all their assets after their deaths.
Anna Zabrotskaya, Head of the Dispute Resolution Practice at Borenius Russia, and Artyom Berlin, an Associate in the same Practice of the firm, have prepared for the editorial office of Delovoy Peterburg an overview of main advantages and weaknesses of the new instruments to transfer an estate. They also offered some recommendations on what should be taken into account when a will is drawn up.