Real estate in a will
Anyone who wishes to bequeath real estate may name any heir they wish. However, children and spouses are entitled to a compulsory portion of the estate, regardless of the wishes of the deceased. This compulsory portion amounts to half of the legal inheritance. For example, if a widow with two children dies without leaving a will, the children automatically inherit half of the property each. However, if one of the children has previously been named as the sole heir in a will, the other child is still entitled to a quarter of the estate. In this case, however, the heir is only entitled to the money, not to the property itself.
Holographic will
If the property is to be bequeathed in a handwritten will, the will is only valid if it is signed. It is advisable to sign with your first name, place, and date. The handwritten will may be written in any language, provided that this language is understood by a third party. A handwritten will can be drawn up without the involvement of third parties, i.e., witnesses (in particular a notary). Handwritten wills do not have to be officially stored. However, they can be deposited by the testator at a probate court of their choice.
Notarial will
As the name suggests, a notarized will is drawn up before a notary or by handing over an open or sealed document to the notary. The notary then draws up a record of this. The notary fees are based on the value of the assets listed in the notarized will. Since the notarized will is a public document, it has full probative value and thus replaces the certificate of inheritance. Once drawn up by the notary, the will is placed in official custody at the probate court of the district in which the notary is based. The testator receives the corresponding deposit certificate. Upon presentation of the deposit certificate, he or she can request the release of the will at any time.
Inheritance contract
Like a will, an inheritance contract is a last will and testament in which the estate is to be settled and heirs are appointed. In contrast to a will, however, the testator draws up the inheritance contract together with the heirs. It can only be changed if all parties to the contract agree. Such inheritance contracts often include conditions, such as caring for parents or taking over the business.
Have you inherited real estate and are unsure what to do next? Contact us! We will be happy to advise you.
Not found:
Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific case.
Photo: © ginasanders/Depositphotos.com
