…in Düsseldorf:
 > Prof. Dr. iur. Holger Linderhaus

Inheritance Law

Advising clients on inheritance law is nowadays mainly about wealth transfer planning.

Wealth transfer planning for both domestic and foreign assets is based on the principle of reallocating wealth while you are still alive. The justification for this approach is to be found in the sort of inheritance tax issues that can arise when a will is executed. Anyone who plans the disposal of their assets while they are still alive thereby minimises the proportion of their hard-earned estate lost to the revenue collectors. In addition, sound wealth transfer planning provides numerous ways of disposing of one’s wealth beyond the grave; even including international income accruing to the deceased or related material assets.

 This applies in particular to medium-sized enterprises. Family holdings, foundations or qualified provisions for succession in company articles of association are instruments for safeguarding the future in accordance with inheritance law. In the private sector, inheritance contracts and agreements on the legal right to a compulsory portion of an estate provide a legal framework for balancing the interests of the surviving heirs. Carefully drafted lasting powers of attorney and living wills are a way of ensuring implementation of the testator’s decisions despite the onset of age-related physical deterioration. Ultimately, the enforcement of inheritance claims – in court, if necessary – may also be an option for legal or named heirs to obtain what is due to them.

LSL LAWYERS were the founders of the ‘Deutsches Erbrechtsinstitut e.V.’ (German Institute of Inheritance Law), an association of lawyers, tax advisers, finance professionals and insurance advisers based in Düsseldorf, dedicated to raising public awareness of the key issues in matters of inheritance.