The 6 biggest mistakes when Inheriting: pay attention to as the testator

Around 400 billion euros will be inherited per year in Germany. This is the result of a study by the German Institute for economic research (DIW). This is mainl

The 6 biggest mistakes when Inheriting: pay attention to as the testator

Around 400 billion euros will be inherited per year in Germany. This is the result of a study by the German Institute for economic research (DIW). This is mainly due to the stable economy. "The post-War generation in Germany over a period of decades of real incomes and the Absence of long walks lasting benefit economic crises and therefore to a large fortune", according to the experts.

However, due to errors in the Inheritance descendants miss billions of dollars every year. Without a clear regulation of the succession dispute, it is also inevitable. With a few tips error when you Inherit can be avoided.

1. No will to make

The topic of Inheritance for many Germans still a taboo topic. However, the consequence is, that only rarely will a will is made. 2015've just written once, 36 percent of the testator's last will. This is the result of a survey of the Institut für demoskopie allensbach (IfD) in the order of Deutsche Bank.

"Many people think they need a will because of the intestate succession'd already set everything up. In many cases, this is wrong,“ explains Anton Steiner, specialist lawyer for inheritance. To this end, he cites an example: "the childless spouses to build the absence of a will, because they think that the other automatically inherits everything. When the husband dies, he leaves besides his wife, a brother, his wife doesn't understand. According to the intestate succession of the brother inherits a quarter of the house, in which the spouses lived and which belonged to the deceased alone. The capital assets of the estate are not sufficient, the brother to pay, which is why the house must be sold. The woman have to move out of your home.“ With a will, the testator could have ruled out, according to Steiner, his brother from the compulsory portion. Properly

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2. The last will and Testament on the Computer to create a

Often, potential testator think of, a Computer-written Testament is the signature valid. In order to make a serious mistake. A machined Testament is legally invalid, regardless of whether with or without a signature. According to Paragraph 2247 of the German Civil code (BGB) must be hand-written Testament, "a hand-written and signed statement". For this reason, be inherited either a handwritten or a notarial or public Testament need to set up. No valid will exists, the legal succession.

Who is insecure, it can be Testament at notary public writing. Section 2232 of the civil code prescribes the regulations for this "notarial": "To the writing of a notary public is a Testament is built by the testator declares to the notary that is his last will or a font with the statement reports that the font contains his last will". Steiner holds this shape for the best: "The advantage of the notarial Testament is that the heir is needed then the succession rule, no additional certificate, in order to legitimize itself as a heritage, for example, compared with the land registry." This is especially advantageous if it is a property or a plot of land is inherited. Since the testator is no longer the owner, and needs to be corrected in the land register entry. The owner is the one of the inaugural heritage.

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3 buy. Professional advice

abandon Anyone on the Expertise of specialist consultants omitted, is taking a huge risk that must be addressed in the worst case, by the heirs. "The treacherous at the right of inheritance is that a lot of pitfalls for the uninitiated, are simply recognizable," says Steiner. The expert refers to the Berliner Testament: "this is Testament to the community's children are spouses of each other as sole heir, and determine at the same time, for the death of the Second of them, who is heir to – most of the time." This could, however, lead to problems. "Practically never lay thinking of rules, whether the surviving spouse is entitled to at a later date to change the bequest allows for his own inheritance. Often, this leads to a legal dispute, because it is missing in the Testament of a scheme,“ said the lawyer. That's why he always recommends professional advice.

Claudia Auinger, specialist lawyer for tax law at the law firm of PKF Firm of Dr. Fischer, holds professional advice, in some cases, particularly useful: "there Are several real estate or business investments, the legal succession is often unsatisfactory results in legal and fiscal terms. Future testator with larger assets and / or more members should, therefore, both a lawyer and a tax Advisor for advice.“

4. The tax office deceive

Depending on the relationship the degree of allowances of up to 500,000 Euro for the inheritance and donations tax. Schenker can exploit these boundaries every ten years. In the case of siblings, nieces, and nephews of the exemption, however, only 20,000 euros. Larger sums of money can thus not Readily tax-free transfer.

money or material assets, in excess of the statutory tax-free, subject to the notification obligation. According to Paragraph 30 of the inheritance tax and gift tax act (ErbStG) will inherit report a taxable acquisition of the relevant tax office within a period of three months. In the case of a taxable purchase "due to a legal transaction which, among the Living, is obliged to display also the one who, out of the assets of the acquisition comes," said the legislator. Who's hiding the IRS inheritance taxable gifts, however, or false information, is committing a tax offence. "Under the display, or the deliberately incorrect display may have under the conditions of sections 370 and 378 of the tax code of criminal consequences," explains Auinger. Inheritance tax

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5. Debt hide

An Inheritance does not have to be always beneficial to the heirs. While some inherit a large fortune, others stand in front of a huge mountain of debt. The Latter is the case, your legacy in the rule issued. Then the liabilities go to the next in the line of succession, and until either the heir to the departure or the state must step in.

"in Fear of a heritage that the estate is insolvent, he may lay the Inheritance as a whole by means of a Declaration to the probate court within a period of six weeks from the knowledge of the death and the circumstances of his Heir exclusive," explains Auinger. Further, it recommends that: "The heir should obtain after the inheritance as quickly as possible an Overview of the financial situation and in case of doubt, within the 6-week period legal advice." Because the law provides that the Inheritance is deemed accepted, once the deadline is passed. Who is to inherit a debt, introduces you to the best in time and saves you from unnecessary work.

6. No preparedness folder to make

especially parents the importance of a precautionary estimate of the workbook. However, you can appoint a trusted person, legal for you to clear, you should not even be in business. In General, these are the children of their own. The workbook includes a health care power of attorney, a living will and health care. The corresponding forms for the Federal Ministry of justice, for example, offers. Anyone who wants to create an individual statement, you can also choose from different text blocks. In addition, it is useful to have a Bank full power of the corresponding Bank request, so that the children trusted person in case of emergency, access to the assets of the parents. To be on the safe side, you should have all the documents by a notary public to certify.

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Updated Date: 01 April 2021, 13:26

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