Establishing a will and secure the survivors? Or transfer the assets to the next generation during lifetime? (Keyword: anticipated succession). Accept or reject an inheritance? Or to claim for a compulsory portion? Inheritance questions can affect you as a transferor, heir, legatee or as a person entitled to a compulsory portion and often raise questions how to proceed best in each individual case.
Our lawyers, tax consultants and auditors have many years of experience in inheritance law advice and the associated drafting and examination of wills, inheritance contracts and health care proxies / living wills. We offer legal, dedicated and tailored advice and a healthy level of pragmatism. It can also mean to tell uncomfortable truths. Onlythat way, certainty can be created and costly, time- and energy-consuming processes can beavoided.
“Presumably, there is no other area of life that can trigger so many different emotions and raise questions, such as an inheritance or the asset succession in lifetime. We advise and represent individuals and entrepreneurs in inheritance law, wealth and company succession comprehensively and relieve our clients wherever we can. “BBT
WILL, INHERITANCE CONTRACT & HEALTH CARE PROXY
Why should I have a will estblished? Those who refrain from a will leave their fortune to the next, still living relatives. In individual cases, this can lead to violent conflicts and serious problems within the community of heirs, because the survivors do not always agree about the deceased’s wealth distribution. A will or inheritance contract determines who is to inherit and overrides the statutory succession. Your will is decisive. In a first conversation we will determine your ideas and wishes together. Then we can develop the optimal strategy for you. A holistic approach is relevant here, so that the transfer makes sense in legal, tax and business terms. In addition, we advise you comprehensively in questions of health care proxies (general powesr of attorney), living wills and care directives.
WEALTH /COMPANY SUCCESSION, ANTICIPATED SUCCESSION
Lifelong property succession is a complex legal area, because manylegal areas interlock. So
- Inheritance law,
- Tax law
- and corporate law
matters have to be considered. In particular, tax law plays an important role in creation of a succession of assets and makes it necessary to regulate the financial situation at an early stage and with foresight:
- That way, tax allowances can be used optimally to save gift and inheritance tax as much as possible.
- At the same time, however, it has to be ensured, that the transferor remains economically safe in old age – despite transfer.
- In case of a company successions, it could be necessary, that the transferor – for the time being – still has got the power to lead the company.
- A premise could be as well, to ensure that transferred wealth remains in the family permanently. For example, in case of real estate that has been owned by the family for generations. This can be achieved with corporate/company law tools but also, for example, with an execution of the will.
But regardless of all possible (tax) optimizations, your wishes and your ideas have priority for us. In an initial conversation we will discuss these together. Then we can develop the optimal strategy for you. With our interdisciplinary team of lawyers, tax consultants and auditors, we always pursue a holistic approach, so that the transfer makes sense in legal, tax and business terms.
HERITGE, COMPULSORY PORTION AND LEGACY
With inheritance, the heir automatically enters into the legal position of the deceased. That means, that all assets but all debts as well are transferred, for which the heir is liable with all his personal assets. That implicates the questions, whether the inheritance should be disclaimed or whether there are possibilities of limitation of liability. If several persons inherit, a community of heirs is formed, which has to be split in case of doubt; in most cases this is difficult because the heirs do not agree about the distribution of the assets. If the will encompasses legacies, the heir has to fulfill these and if there are claims for compulsary portion compulsory, the heir has to fulfill these as well. For all these questions, we are happy to advise you and represent you in litigation, in and out of court. In the same way, we support you in case of enforcing claims as a legatee or claims for compulsory portion.
OUR SERVICES IN INHERITANCE LAW/SUCCESSION
- Drafting of wills and inheritance contracts
- Drafting of spouse’s testaments (for example, the “Berlin WiIl”)
- Interpretation and contestation of wills
- Drafting of legacies
- Conception of business succession
- Drafting of entrepreneur’s wills
- Tax-optimized succession planning in the entrepreneurial and private sector
- Measures of anticipated succession / donations
- Advice on the disclaiming of an inheritance
- Possibilities of limitation of inheritance liability
- Split of heir communities
- Assertion of compulsory portion claims
- Enforcement of inheritance claims
- Representation in front of court
- Execution of will
- Drafting of health care proxies, living wills and care instructions