Estate Planning
If a person does not make any arrangements for his or her death, his or her property will be inherited according to the law. If the testator wishes the distribution of the estate to be different from that defined by law, it is important to put these wishes in writing clearly and unambiguously . There are different options for doing this.
Do nothing
- The simplest option for the testator is to do nothing and let the assets be distributed according to the law.
- This is reasonable if there are no particular wishes regarding the division of property or no particular reasons to change the legal succession.
- The absence of a will does not make the inheritance procedure more complicated or longer.
Will (Testament)
- If you want to have more control over who inherits how much, or which specific items (property, car, etc.) go to whom, you should make a will.
- A will is certainly necessary if you want to leave part of your estate to people who are not legal heirs (e.g. unregistered partner, friends, charities).
Succession contract
- A succession contract can be a sensible solution in situations where the heir has to do something for the deceased in order to receive the inheritance – for example, take care of the deceased during his or her lifetime.
- However, it is important to note that a succession contract can only be unilaterally revoked in exceptional cases.
Notaries are often asked whether it is better to make a gift or an inheritance. Indeed, it is possible to make a gift during your lifetime, but it is important to bear in mind that once the gift has been made, the donor no longer has any rights to the property. It does not make sense to make a gift of an estate in which you intend to live until you die. More about gifting
| Will (Testament) | Succession contract | Gift agreement | |
|---|---|---|---|
| How many parties? | A personal and independent decision that does not require anyone’s consent. | An agreement between the testator and another person. | Agreement between the giver and the recipient. |
| Who is the owner of the property until the person’s death? | A person remains the owner of his or her property until death and can deal with it himself or herself. | A person remains the owner of his or her property until death and can deal with it himself or herself. | The recipient becomes the owner of the property. The donor cannot prohibit its sale, pledge, etc. Nor can the donor reclaim the gift. |
| Cancellation or modification | The testator has the right to revoke or amend the will at any time. | Cancellation and unilateral modification are limited. | A gift agreement cannot be withdrawn simply because of a change of mind, but only on the grounds laid down by law, such as gross ingratitude on the part of the donee, the economic inability of the donor or donees failure to fulfil a condition set out in the agreement. |
| Notary fees | The fee is always the same regardless of the size of the property. | The fee depends on the value of the property. | The fee depends on the value of the property. |
A notary can help you choose the best way to do this according to your wishes.
Make an appointment
You can go to a notary with a general idea of how your inheritance should be divided, and the notary will help you to turn it into a specific document. It is not always possible to reach a final result in one visit, and a new appointment can be made.
Write an e-mail
You can go to a notary with a general idea of how your inheritance should be divided, and the notary will help you to turn it into a specific document. It is not always possible to reach a final result in one visit, and a new appointment can be made.