Creditor Protection in Succession Law: a Comparative Analysis

Abstract

The transfer of the deceased's debts is a common consequence that arises from the phenomenon of succession in both civil and common law legal systems. In this respect, a number of conflicting interests are at stake: namely, the interest of the beneficiaries that need to be balanced against the interests of the different groups of creditors (the ones of the estate and those of the beneficiaries). Common law legal systems are generally considered as the most creditor friendly, for beneficiaries only receive the residue once the estate is fully wound up. By contrast, civil law legal systems are characterised by the dogma of fusion of patrimonies, where the estate is fused with the beneficiary's patrimony. Taking these aspects into account, the article analyses how creditors’ interests are protected in the most representative European succession laws, with a view to identifying the merits and shortcomings of each of these models.