Only in a few cases does the legal succession correspond to the wishes of the family. It is therefore of great importance that everyone who wants to leave assets to their family or other people specifies their wishes in their own will. However, this is not quite as simple as people generally think – unclear wording, incorrect terms and formal errors pose a risk. One consequence could be that the testator’s will is not sufficiently expressed. By its very nature, the testator has no influence on the allocation of assets after his or her death. Therefore, a clear but also early arrangement is required during the testator’s lifetime.
This has the major advantage that the testator has a great deal of freedom in deciding how his assets are to be distributed. In order to give the best possible expression to his or her will, the future testator can, for example, order a bequest or an inheritance, a preliminary or subsequent inheritance, conditions or stipulations. The danger, however, lies in not having a full understanding of the legal consequences, which also include tax misconceptions. Therefore, the creation of a testamentary disposition should always be carefully considered and reviewed.
The Topics
We rightly talk about these topics in our Round Table meetings. The Round Table is an action of Herfurth & Partner and serves to clarify and secure wishes and decisions in the family in connection with assets, provision and succession.
The next dates can be found in the Round Table section (welcome homepage).
Further information on many topics can be found in the Publications section (welcome homepage).
Angelika Herfurth
Attorney at law and specialist lawyer for family law