Estate planning requires careful consideration of how your assets will be distributed after your death. At Schlun & Elseven Rechtsanwälte, we specialise in German inheritance law, helping clients navigate the complexities of wills, inheritance contracts, and probate matters.
The inheritance contract (der Erbvertrag) serves as a powerful estate planning tool that allows you to specify exactly how your assets will be distributed upon your death. Unlike a standard will, inheritance contracts involve stricter legal requirements and offer enhanced protection, though they are also more difficult to modify or revoke once established. Our German probate and inheritance lawyers provide comprehensive guidance on all aspects of inheritance law. We work closely with each client to ensure your wishes are clearly documented and legally enforceable, providing security for both your estate and your beneficiaries.
Whether you need assistance drafting an inheritance contract, reviewing existing estate planning documents, or navigating probate proceedings, our experienced team is here to help.
The Inheritance Contract: General Information
The inheritance contract (Erbvertrag) is a binding agreement between at least two parties, including the testator. It is a means of disposition of property and assets following the testator’s passing. An inheritance contract is less flexible and subject to more robust legal requirements than a will. Changing or cancelling an inheritance contract involves agreeing with the other parties involved in the agreement, and it must be notarized.
An inheritance contract allows the testator to place particular demands on the part of the prospective heir. An inheritance contract may consist of the testator leaving their property to the heir; however, the heir may face obligations to take care of the testator in their old age. An inheritance contract can be preferable to a will in some instances. An example of a situation where an inheritance contract is preferable is where the testator is not married to their partner. Generally, spousal wills are primarily for married couples or registered partners, but the inheritance contract does not face such limitations. It provides solid legal protection to the individuals party to the agreement and can help prevent legal disputes from arising, such as those that may result in the event of leaving a will.
Another case where an inheritance contract may be preferable is business succession planning. Entrepreneurs who have built a successful business may face challenging questions concerning inheriting the business. Whether they want to keep the company in the family, hand their share over to their business partners or look for another option, an inheritance contract is advisable in such scenarios. Early planning and comprehensive documentation of the process are advisable.
At Schlun & Elseven Rechtsanwälte, our full-service approach means that our lawyers provide advice on business succession planning requirements from German inheritance law and German corporate law perspectives.
German Inheritance Law Practice Group
German Inheritance Law Practice Group
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Please use the contact form to tell us about your legal concerns regarding the inheritance contract (der Erbvertrag). After receiving your request, we will make a short preliminary assessment based on the information provided and give you a cost estimation.