Trusts

Trusts are not recognized in Greece

Testamentary Trusts or pour over wills, created while the testator was alive, empty the deceased's assets into a trust at death. These are found in certain wills and can cause serious problems under Greek Civil Law. The trust is not recognized under the laws of Greece as an entity (does not have the same rights as personhood), neither the Executor nor the Trustees are the heirs and Greek Law requires an heir for the process to commence.

Placing Greek land or immovable property located in Greece into a trust formed outside of Greece can severely damage the chain of title to land

There are options. A consultation before drafting the trust regarding any Greek property would be beneficial. The trust creates a "conflict of laws" issue that requires knowledge of foreign trusts as well as Greek Civil law.