Nobody can plan life from the word go, but how an
individual shapes his life, what he leaves behind
and what provisions he makes are things that can
definitely be planned in advance. Bequeathing and
inheriting play an important role in the present day.
All over the world assets in their billions, whether
in the form of euros, US-dollars or another currency,
are passed on to heirs and legal successors. For
this reason, it is necessary to make provisions in
time, to obtain legal advice well in advance, to
develop strategies and make decisions as to what is
to bequeathed to whom and when, whether intestate or
testamentary succession applies or whether property
and assets should or would need to be transferred in
the testator's lifetime. These are all important
questions requiring individual answers and decisions.
International inheritance matters are growing in importance
- be it as the testator lived outside Germany or all or part of the estate is
located outside Germany. Given such a constellation, testators and heirs need to
give their attention to relevant aspects of international law of succession.
We are all growing older - therefore making provisions for
the future also means considering the possibility of loss or restriction of
personal legal competence sufficiently in advance. In view of this, persons
making a last will and testament are well advised to also grant a (comprehensive)
power in case of incapacity and to make a living will.