Swiss inheritance law since 2023: what changed for families

Since 1 January 2023, Swiss law lets you decide freely over a larger part of your estate. Many wills written before that date now work differently from what their authors intended.

The principle: reserved portions

Swiss law does not let you leave everything to whoever you choose. Certain heirs are entitled to a minimum share, called the reserved portion. What remains is the freely disposable portion, which you can leave to anyone: a spouse, one child rather than another, a partner, a foundation.

The revision in force since 1 January 2023 made the reserved portions smaller. It applies to every death from that date, whenever the will was written.

What changed

For a married person with children, the legal heirs are the spouse and the children, each for half of the estate. The reserved portion is now half of that legal share for both.

Shares of the estate for a married person leaving a spouse and children. Other family situations give different figures.

More room to protect a spouse

The change matters most for the first handover, from one spouse to the other. A spouse can now receive up to three quarters of the estate outright: their legal half, plus half of the children’s share.

There is a second route. A will can give the surviving spouse the lifelong use of the entire share that goes to the couple’s common children, with the children receiving it in full only later. Since 2023 the surviving spouse can receive half of the estate in full ownership on top of that right of use, where it was a quarter before.

The law also changed for couples who are divorcing: under certain conditions a spouse loses the reserved portion once divorce proceedings are under way, rather than only when the divorce is final.

Why older wills deserve a second look

Many wills say that the children are “reduced to their reserved portion”. Under the old law that meant three eighths of the estate. Today the same words mean a quarter. The result may be exactly what was wanted, or it may not. A will written before 2023 is worth rereading with a notary or lawyer.

What did not change

Marriage first

The marital property regime is settled before the estate is divided. It often decides more than the will does.

Partners

Unmarried partners still inherit nothing unless a will or inheritance contract says so.

Tax

Inheritance tax is cantonal. Most cantons exempt spouses and direct descendants, but the rules differ by canton and for assets held abroad.

Abroad

Families with several nationalities, residences or foreign assets need advice in each country concerned.

How we approach it

We are investment managers, not lawyers. Our part is to make sure the portfolio can carry what the family has decided: that the assets are known and in one view, that there is liquidity for taxes and for the division between heirs, and that the spouse and the children already know the people who manage the money. The legal drafting belongs to the family’s notary or lawyer, and we work alongside them.

Sources: Swiss Civil Code, inheritance law as revised with effect from 1 January 2023 (arts. 470 to 473). This article is provided for information purposes only. It is not legal or tax advice, and it does not constitute investment advice, an offer or a recommendation. Inheritance and tax rules depend on each person’s situation, residence and nationality; please consult a qualified legal or tax adviser. The views expressed are those of the author and of GYRA SA at the date of publication and may change without notice.