The decision you are actually making
There are three options in front of you, not two: accept, renounce, or accept subject to an inventory.
Renouncing means stepping away entirely. You receive nothing and you owe nothing.
Accepting subject to an inventory means you accept, but you answer for the liabilities only up to the value of what you received. It is the middle route, and it is often the right one when it is not yet clear what stands on each side.
Be careful what you do before you decide
This is the mistake that cannot be undone.
If you take money from the deceased’s account, sell something of theirs, transfer their car into your name, or otherwise deal with the estate, that counts as acceptance. Your actions have shown that you accept.
After that, renouncing is no longer available. If there were debts, you answer for them too.
So the rule is simple: until you have decided, touch nothing.
Deadlines
There is a deadline and it does not run forever. Acceptance subject to an inventory in particular is not open-ended.
I am not going to give you a number that may not apply to your situation, because when the period starts depends on the circumstances rather than on the date of death by itself. The deadline that applies to you is established from the documents.
If you think there may be liabilities, this is not a conversation for a few months from now.
What gets checked before the decision
On the asset side: property, bank accounts, shares in companies, vehicles, money owed to the deceased.
On the liability side: loans, guarantees given for other people, obligations to the state, unpaid bills, court proceedings, enforcement proceedings.
Guarantees are what surprises people most often. Someone guaranteed a loan for a relative years ago, forgot about it, and the obligation is still there.
If you are abroad
You do not need to come. The check is done through registers and documents, and the step itself can be handled through representation.
If the deceased held assets in another country as well, the procedure can become more involved. There is a separate page on inheriting from abroad.
If the estate carries debts
Renouncing is not the only way out and not always the best one. See an estate that carries debts.
What I will need
The death certificate, a certificate of heirs, and whatever you know about the assets and the liabilities, even if it is incomplete and second-hand. If you have letters from a bank, a bailiff or the revenue authority, bring them.
This page provides general information and does not constitute legal advice on any specific case. Rights and deadlines depend on the facts and the applicable law.