For example, transferring ownership of property or companies to your children while you are still alive can bring you tremendous tax advantages if you go about it skilfully. Timing is of the essence. As the recipient is eligible for tax exemptions every ten years, starting early can save you a lot of money.
But maintaining a long-term perspective can also protect you from potential risks of transferring ownership. How can you as a donor protect yourself? When should you maintain the right to reclaim ownership? That is essential to protect you from paying double inheritance tax if you give valuable property to one of your children, outlive him or her, and they have no children of their own, for example.
Designing your last will and testament to your individual needs is no less important. The so-called “Berliner Testament” may not be the best solution for you if you own a company, as it is not designed to ensure maintenance of company structures. The succession of inheritance it lays down is often not in line with the wishes or intentions of the testator.
We work with you to design solutions that allow you as a business owner to maintain full autonomy over your estate.
And if an inheritance case has already begun, things can become very complicated if companies, shares or business property are part of the estate. For companies, the first priority is to ensure effective daily operations until all matters have been settled. That is often difficult in private companies, as legal inheritance may not be in line with the partnership agreement. As attorneys for enterprise who cover inheritance law, corporate law and property law, we can relieve pressure during this critical phase by providing sustainable solutions and preventing significant loss.