drafting of wills
Bequesting is not always as easy as it seems!
A sudden and unplanned case of death often shows us how much the subject of inheritance is being neglected. You are sure that everything is arranged properly, but then... We often hear phrases such as "I don't really care what happens when I'm dead (...)". But what might be the consequences of this mindset? Family arguments, expensive judicial conflicts, ruin of the fortune or, the worst case scenario: the state inherits everything.
Did you know that only every fourth person makes her / his will? If there is no will, the intestacy rules remain valid. If the deceased person had any children, the widow/er gets half of the heritage at best. And if you die without testating, your life partner inherits nothing at all.
Writing down a will on your own is an inadequate option. Self-constituted wills are often incorrect, because they were written down falsely, are vague, contradictive or ambiguous.
Keep in mind that notarial
- full power of attorney
- patients' wills and
- contracts of inheritance
are absolutely necessary, if there is legacy to take care of.
We will gladly advise you!
Don't let the state or unknown relatives inherit your legacy, but specifically consider your spouse or life partner!
Or maybe you'd like to bequest an (aid) organisation? Then you should check the organisation's amount of administration costs on a regular basis and make a deliberate choice.
Another option: Incorporate your own foundation!
More and more private persons, companies and organisations establish a foundation. Currently there are about 3.026 charitable foundations in North Rhine-Westphalia. If you want to donate your inheritage, we have the expert knowledge and will gladly advise you in terms of foundation, donation and administration. It is more convenient and less expensive than you would expect!
All a. m. activities will be carried out in close co-operation with our lawyers.
In any case, aspects of inheritance tax and gift tax have to be considered. The inheritance tax law is complicated and full of specialties: Therefore, legal requirements have to be considered at any time, in order to minimize the respective burden or avoid it at all.
Your contact person and coordinator in our office:
Bettina M. Rau-Franz
- Business partner
- Tax advisor
- Certified executor for wills
Roland Franz & Partner
Phone: +49 (0)201 810950