What procedure must be followed?
The heirs of deceased persons are sometimes aware that the latter may have deposited assets in their lifetime with Luxembourg banks but are unable to trace the bank or banks concerned.
To assist the heirs in their searches, the ABBL mail [at] abbl [dot] lu (mail@abbl.lu) makes available to them on demand:
- a list of all the banks in the financial centre with an indication of their geographical origin;
- a list of all the banks in the financial centre with an indication of the date on which they were established in Luxembourg;
- a model letter to make a request for searches to the credit institutions to which the request is to be put.
Which documents are needed?
As evidence of their entitlement, the heirs must attach certified true copies of all documents which are liable to prove their entitlements. These documents are in principle those which are customary in the country of origin of the applicants. As a rule they are their identity card, the death certificate and the deed of publication in relation to the estate. German customers must ask for an Erbschein (inheritance certificate) to be issued.
When the request is made by an attorney-at-law or a notary, a power of attorney from the heirs authorizing him to make the searches must be attached.
Each case is different.
The settlement of the estate of a deceased person can sometime prove highly complex and create many difficulties, especially because of factors such as the nationality and last place of domicile of the deceased, the number and capacity of his possible heirs, the nature of the assets forming part of the estate, the existence of special provisions (including a universal legacy, a universal or particular bequest, posthumous mandate etc.)
What role do the banks play?
It goes without saying that the banks are accustomed and even obliged to make conscientious searches for the existence of a business relationship at the time of the death. However, because of the number of requests of this kind which are submitted to them, the banks at which the deceased person did not in fact hold an account or safe deposit box do not always reply systematically. If the heir does not receive a reply within a matter of weeks it must be assumed that the deceased did not have any banking relationship with the insitutions contacted. Banks are not accustomed to issue certificates attesting the fact that there are no assets.
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