Fideicommissum: the Greek ‘trust’ in succession law
Greek law does not recognise the common-law trust, but it offers a long-established mechanism for successive heirship – the fideicommissum (καταπίστευμα) – which the 2026 reform has preserved and refined.
What it is
A testator may appoint an heir but oblige that heir to hand over the estate, or a share of it, to another person – the fideicommissary – on a specified event or point in time, typically the first heir’s death (Article 1904 of the Civil Code). The first heir is a true heir for the interim period; the fideicommissary is the testator’s second, successive heir and acquires a protected expectancy from the moment of the testator’s death. Since 2026 a fideicommissum may be created by inheritance contract as well as by will (Article 1798). No particular wording is required, and Articles 1905–1911 contain interpretative rules identifying the fideicommissary in case of doubt – for instance where the testator prohibited the heir from alienating the estate or directed that it remain in the family.
Powers of the first heir
Pending devolution, the first heir manages the estate and brings the inheritance actions, but may dispose of assets only within ordinary management, with the fideicommissary’s consent, or where the testator allowed free management or limited the fideicommissary to whatever is left at the time of devolution – the residuary fideicommissum (Articles 1918 and 1920). Even in the residuary form, the first heir cannot dispose of the inherited assets by his or her own will: on death they pass by law to the fideicommissary, as the Greek courts have repeatedly confirmed.
Time limit and tax
Devolution to the fideicommissary occurs on the first heir’s death unless the testator fixed another event, and under the new law it is frustrated in any event if thirty years pass from the testator’s death (Article 1916). For inheritance tax purposes the first heir is taxed as usufructuary of the assets subject to the fideicommissum and the fideicommissary as owner upon devolution (Article 17 of Legislative Decree 118/1973).
A tool for international planning
For families with Greek assets and foreign trusts, the fideicommissum is often the closest Greek-law vehicle to a life interest followed by a remainder. Its use alongside the new inheritance contract, and in combination with the reformed forced share, opens planning options that were not available before 2026.
How we can help
We advise on the use of fideicommissa and legacies in Greek wills and inheritance contracts, and on the Greek treatment of foreign trusts.
Updated October 2026. This article reflects Law 5303/2026, applicable to successions opening on or after 16 September 2026, and is for general information only; it does not constitute legal advice.
* The information is accurate to the best of our knowledge as at the time of writing. We have no obligation to update it. We accept no responsibility against any third party who is not a client of the firm and has not signed the terms of our engagement.