Wills and inheritance contracts: targeted control of property inheritance
When it comes to bequeathing property, it makes sense to record the last will and testament in writing. If there is no will, statutory succession applies, which means that several descendants may inherit parts of a property - a scenario that often leads to disputes and lengthy arguments.
Why a will is important
Especially if a property is to be passed on to certain persons, a will helps to create clear conditions. In this way, you avoid creating a community of heirs in which several heirs argue about the use or sale of the house.
An example: A married couple with two daughters would like to bequeath their home to a grandchild. Without a will, the statutory succession would apply and the property would pass to the daughters. The grandchild would go away empty-handed. With a will, the testator's wishes can be implemented exactly.
Mandatory portion and legal restrictions
Please note, however, that not all close relatives can be passed over completely. The so-called compulsory portion guarantees certain relatives a minimum entitlement to the estate. A will can reorganise the statutory order of succession, but cannot fundamentally cancel out the compulsory portion.
Formalities in a will
A will can be handwritten, but should fulfil all formal requirements. To avoid legal uncertainties, it is advisable to seek advice from a specialist lawyer for inheritance law or a notary. Notary fees are based on the value of the estate. Internet templates only offer limited security, as handwritten templates must also fulfil all regulations in order to be valid.
Inheritance contract as an alternative
In addition to a will, there is also the option of an inheritance contract. This must be notarised and requires both testamentary and legal capacity on the part of the testator. An inheritance contract is often concluded when special conditions are attached to the inheritance, such as the gradual transfer of a business or the obligation for the future heir to care for the deceased. Unlike a will, an inheritance contract cannot be revoked unilaterally, which provides greater planning security.
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Robert Schüßler
Property valuer (EIA and IHK)
