StartProperty SuccessionExecution of a Will

Execution of a Will

The aims of the testator, i.e. achieving a prompt distribution of the estate, preserving peace within the family, and protecting assets and so on, can often more easily be reached if an executor is appointed for the administration or the settlement of the estate.

The execution of a will involves significant restrictions for the heir, therefore it is recommended to the testator to explain his/her reasons for the appointment of an executor. This can ensure an (improved) understanding on the part of the beneficiary and prevent conflicts between the executor and the heirs. A careful scheme for the execution of the will is also recommended, in particular, in the case of very valuable estate assets, in the cases of conditions or bequests and if there are several heirs and, in particular, if the testator wants to ensure that his/her instructions are precisely implemented.

Execution of a will: Tasks, objectives, and costs

Execution of a will: Tasks, objectives, and costs

2. Who can order the execution of a will?

3. How is the execution of a will ordered?

4. When should the execution of a will be ordered?

5. Aims and advantages of the execution of a will

6. Who can be an executor and which requirements have to be fulfilled?

7. What is ongoing execution of a will?

8. What are the tasks of an executor?

9. Can heirs or the probate court dismiss the appointed executor of the will?

10. Costs of the execution of a will

Executors of wills in Cologne

As lawyers and specialists in tax, commercial and company law as well as tax advisers, we have long-standing experience in designing and wording - even complicated and detailed - wills and contracts of inheritance and/or contracts regarding your family-owned company. We want to ensure the controlled settlement of your estate in line with your wishes and, of course, support you with regard to all legal and tax questions on this.

Services

  • Planning and implementation of the execution of wills
  • Advising executors with regard to all legal and tax questions
  • Representation of executors or heirs in case of conflict
  • Checking whether the execution of a will is appropriate and/or necessary
  • Ordering the execution of the will in the will or in the contract of inheritance
  • Indicating alternative options to the straight-forward execution of the will (e.g. powers of attorney)

Advantages 

  • Long-standing experience as executors of wills
  • Legal know-how required to professionally manage complicated inheritance cases and extensive estates
  • Tax know-how to prepare the estate inventory and the inheritance tax return from one hand
  • Psychological know-how and experience as mediators in cautiously approaching complicated situations and difficult heirs - with the required sense of tact; however, on the other, consistently working with these in the interests of the testator

Help in advance

  • In preparing a private will and testament or entrepreneurial will complying with the formal requirements
  • Taking consideration of all personal and legal framework conditions and circumstances and
  • in a tax-optimising manner, ensuring compliance with the tax laws

 

LHP: Attorneys at Law, Tax Law Specialists, Tax Advisers PartmbB

Cologne

An der Pauluskirche 3-5, 50677 Cologne,
Telephone: +49 221 39 09 770

Zurich

Tödistrasse 53, CH-8027 Zurich,
Telephone: +41 44 212 3535