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What do you have to keep in mind?

Inheritance and Bequeathal

Passing on your assets is not just about numbers, but also about emotions. However, a structured, forward-looking transfer of assets always requires a few considerations to ensure the security of the testator and heirs. The following must be considered:

  • Your will decides
    ​​​​​​​You can write and sign your last will and testament by hand. The will should clearly regulate how you want to arrange your estate succession. If you have complex assets, seek the support of an expert who can provide you with professional advice. We will be happy to recommend a competent legal advisor.
  • Keeping the will safe
    Your will should be kept in a safe place, either at home or with your trusted legal advisor. Without a will, legal succession will apply, which may deviate from your true wishes.
  • Avoiding disputes is very simple
    If you agree an inheritance contract with your heirs, you can divide up the inheritance together in advance. This contract must be notarized by a notary, especially if real estate is involved.
  • Changing the contract
    Once the contract has been concluded, it can only be amended with the participation of all contract participants.
Familie

What you should bear in mind as an heir

Inheriting a property is exciting, but can also present many challenges. To give you the best possible start, we would like to highlight a few important points that you should be aware of as the heir to a property.

Accepting the inheritance?

You have received an inheritance and are now faced with the decision: should you accept the inheritance? This question can be particularly tricky in the case of an inherited property. Whether you should reject the inheritance, accept it conditionally or accept it unconditionally depends on various factors. For example, if the property is burdened with high debts that cannot be repaid with the rest of the inheritance, it is advisable not to accept the inheritance. If you nevertheless decide to accept the inheritance, you will have to pay off the debts with your own funds. If you conditionally accept the inheritance, you are only liable with the estate, so you do not have to worry about incurring high additional costs.

Modellhaus in einem Blumenfeld als Symbol für Erbschaft

What happens if there are several heirs?

If there are several heirs, the joint inheritance of a property can lead to division problems. However, there are various possible solutions that can be considered. One option is for the co-heirs to pay each other out in order to divide the property between them. Another option is to sell the property in order to divide the proceeds equally among the heirs. Another option would be to rent out the property as joint ownership to generate long-term income.

What options do you have when dealing with the property?

An inherited property offers a variety of options, depending on the heir’s individual needs and goals. One option is to live in the property yourself. By renovating or converting the property, you can design it according to your own ideas and create a home that perfectly meets your own needs. Another option is to sell the property. This can make sense if you want to use the proceeds, for example to pay off debt or invest in other assets. Another option is to rent out the property. This can generate additional passive income and secure long-term earnings.

When deciding what to do with an inherited property, a court-certified valuation report can be invaluable. Such an appraisal provides an independent and objective assessment of the property value, based on current market conditions and professional expertise. It helps you to make an informed decision: should you sell the property, rent it out or use it yourself?

Erben einer Immobilie lassen sich von einem Makler beraten