Framing of last will, succession planning, compulsory portion
The regulation of inheritance matters at a very early stage helps to avoid the often long-lasting and cost-intensive family conflicts after the death of the testator. Very essential is the detailed written description of the will of the testator. The framing of the last will can refer to a range of different types. This includes, e. g., a private will, a joint will, a contract of will, an entrepreneurial will but also a disabled person will.
Many aspects in context with the estate but also the involved person have to be taken into account. With regard to the involved assets, individual solutions have to be found. This can mean the application of special inheritance instruments, e. g., the use of different forms of usufruct or the designing of taxation favored business assets. If the testator plans to consider a person which should not be an heir, the granting of a legacy can be taken into account. In some cases there is the need to restrict the heirs to their compulsory portion for reasons of protecting of the family wealth.
Company succession planning
The correct structuring of the corporate and asset succession is very important for the long lasting existence of the family wealth. The intensive elaboration of tailored solutions as well as carefully supervising the realization period by a professional adviser ensures the avoidance of family conflicts and the protection of family assets in the future.
Distribution of the estate
On the occasion of a distribution, the assets will be distributed among the heirs as well as the other beneficiaries. In this context, very often questions of civil right but also national and international tax law arise. Furthermore, answers to assessment issues of the value of the assets have to be found. Such a distribution can be a time-consuming and laborious road for the involved persons. It cannot be excluded, that the heirs will have different opinions with regard to the distribution of the estate and get into conflict culminating in legal disputes. In such a situation, the support of an external legal adviser is very helpful. His task is to take care of the representation and enforcement of interests free from any, very often familiar and personal, emotions.
Usually, estate administration referres only to the securing and administration of the estate. However, in many cases an heir research has to be accomplished. The excercises on the fields of acitivities of an estate adminstrator depends on the individual case of the decendent. In many cases securing and administration of the estate belongs to bank accounts, securities accounts or real estate. Constantly appointed by court as an estate administrator the law office KNITTEL disposes about practical experiences on all fields of estate administration.
The estate administration has also to be taken in consideration, when the satisfaction of the claims of the creditors out of the estate is endangered and at least one of the heirs has caused this situation. The administration has the goal to protect the own assets of this heir.
Heir Research means the selective search of relatives of the decendent, who could be possibly regarded as his legal heirs. In some cases a proceeding of declaration of death according to the disappearance law (Verschollenheitsgesetz – VerschG) has to be completed. Law office KNITTEL disposes of a variety of practical experiences on these fields of heir research national as well as international to receive the necessary documents and certificates as evidence for the status of heir. The compensation is based on an agreed payment per hour or a flat rate, i. e. the value of the respective estate is irrelevant for the compensation.
Execution of the last will
For the accurate realization of the last will of the testator, it can be necessary to introduce a family member or a third person as executor. Law office KNITTEL disposes of practice proven experience in all areas of inheritance matters, especially the construction of complex structures with different assets and different persons as well as the distribution of the estate. Additionally the firm has already been appointed as executor of the last will.