Inheritance and gifts
During our lifetime, we try to skillfully preserve or increase our assets. However, very few of us make adequate provisions for the time after our death. This can lead to disputes within the family, expensive court proceedings and the disintegration of assets.
The legal succession
Everyone has heirs. If you do not determine your heirs yourself, they are determined by law. The statutory order of succession takes into account the closeness of the relationship to the deceased: Heirs of the so-called first order are the children of the deceased. If they have already died before the deceased or have disclaimed the inheritance, their children - i.e. the deceased's grandchildren - come first, and so on. If there are no heirs of the first order or they have disclaimed the inheritance, the parents of the deceased are considered as heirs of the second order, or alternatively their descendants, i.e. the siblings of the deceased. Heirs of further orders are the grandparents - or alternatively their descendants -, the great-grandparents and so on.
The spouse or partner in a registered civil partnership also has a statutory right of inheritance. The amount of the inheritance share depends on the matrimonial property regime of the spouses or partners and which family members are still present. If there are children, parents, siblings or grandparents of the deceased, the partner shares in the inheritance together with them. The surviving partner therefore does not usually inherit all of the deceased's assets. As a result, he or she cannot freely dispose of the inherited assets without the consent of the co-heirs. If the children of the spouses or partners are still minors, court approval may even be required.
If you are not married to your partner, they have no statutory inheritance rights. Regardless of the duration of the non-marital relationship, your partner will not receive any share of your assets.
Designing with wills and inheritance contracts
If the statutory order of succession does not meet your expectations, you can deviate from this by making a will or an inheritance contract. This allows you to decide for yourself who should receive your assets after your death. Only the so-called right to a compulsory portion of your next of kin can restrict your freedom to make a will.
Many mistakes can creep in, especially when drafting a last will and testament. For example, the wording may not be clear or the desired goal may not be achieved in the intended way. You should discuss your ideas with your notary so that you can be sure that everything is in line with your wishes. Your notary will check in each individual case which arrangements make sense for your personal circumstances and will take care of the legally secure formulation of your last will and testament. There are no additional costs involved, as the notarization fee also covers the consultation and draft.
If you have your will notarized, you can not only be sure that your last will and testament will actually be carried out in accordance with your wishes. You also make it easier for your heirs to settle the estate, as it is usually no longer necessary to issue a certificate of inheritance, which is otherwise regularly required - saving your heirs not only time, but also the sometimes considerable costs of the certificate of inheritance.
Give as a gift
Sometimes it can make sense to transfer individual assets to the next generation during your lifetime (so-called anticipated succession). In addition to the area of company succession, the transfer of real estate is of considerable importance. Such a transfer can make optimum use of tax-free allowances and, under certain conditions, reduce third-party claims to a compulsory portion.
When considering whether a transfer during one's lifetime is an option, the associated advantages and disadvantages must be carefully weighed up and require detailed legal advice. If assets are transferred, the possibility of securing the transferor, for example in the form of a usufruct or a right of residence, should be examined.
Costs
Notaries charge fees for their work according to a statutory social fee system that is based solely on the value of the matter. The notarization of your will or contract of inheritance therefore costs the same for every notary. The notarization fee also covers the consultation and preparation of the draft. You are welcome to ask my office about the expected costs in advance.
Legal pitfall sample contract
The Internet has become the primary source of information for almost all areas of life. For almost all decision-making issues, users turn to the global community with confidence. However, caution is advised when using ready-made forms and sample contracts from the Internet.
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Your contact person
Florence Wetzel
Together with my expert team, I am happy to offer you notarial advice in all areas. This means you can be sure that everything will go according to your wishes and be legally compliant. If you have any questions or need help, please do not hesitate to contact me. I am here for you and will be happy to assist you.