Inheriting and Bequeathing: A Guide

Inheriting and Bequeathing: A Guide

Inheriting and Bequeathing: A Guide

Inheritance and inheritance are important topics that affect many people. In this guide we will look at the different aspects of inheritance and inheritance, from the legal basis to frequently asked questions.

The legal basis of inheritance and inheritance

Inheritance law regulates what happens to a person's assets after they die. In Germany, the Civil Code (BGB) regulates inheritance law. According to the BGB, there are different types of heirs: legal heirs, those entitled to a compulsory portion and heirs by will.

Legal heirs are those who inherit according to the law when there is no will. They are usually the deceased's closest relatives, such as spouses, children and parents. Those entitled to a compulsory portion are people who have a legal right to a part of the inheritance despite being disinherited. Intestate heirs are those named in the deceased's will.

When inheriting, many aspects have to be taken into account, such as taxes, dispositions upon death and inheritance law arrangements.

Dispositions upon death include wills, inheritance contracts and legacies. A will is a unilateral disposition upon death, according to which the testator disposes of his assets in the event of his death. An inheritance contract is a mutual contract between two or more people who agree on their future inheritance. A legacy is a gift of assets to a specific recipient.

Tax aspects of inheritance and inheritance

Tax aspects also need to be taken into account when inheriting and bequeathing. In Germany, inheritances and gifts are subject to inheritance tax or gift tax. The amount of the tax depends on the value of the acquired assets and the degree of relationship between the testator and heirs.

Frequently asked questions about inheritance and inheritance

1. Does a will have to be notarized?
A handwritten will does not have to be notarized, but it must be handwritten and signed by hand. A public will, on the other hand, must be written down and certified by a notary. It is advisable to have a will notarized to avoid disputes between heirs.

2. What is a compulsory share and who is entitled to it?
The compulsory portion is the legal minimum share of the estate to which close relatives are entitled in the event of disinheritance. Children and spouses are entitled to a compulsory share, while more distant relatives are generally not able to claim a compulsory share.

3. How does inheritance occur if there is no will?
If there is no will, legal succession applies. The deceased's closest relatives inherit according to a specific legal scheme. Spouses and children inherit first, followed by parents and siblings.

Conclusion

Inheritance and inheritance are complex topics that should be carefully considered. With a well-thought-out will and sound advice from an inheritance law specialist, disputes between the heirs can be avoided. It is advisable to deal with the issue early on and make your own estate arrangements.