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Source: BUS Sachsen-Anhalt (Linie6PLus)

Concluding an inheritance contract

Description

In addition to drawing up a will, there are also cases when it is better to conclude a contract of inheritance. You can also determine the transfer of your assets in the inheritance contract. The difference to a will is that you enter into a commitment to the contractual partner in the inheritance contract. Normally, you can only withdraw from this if you conclude a termination agreement with the contracting parties to the inheritance contract.

Inheritance contracts are often concluded in non-marital partnerships. Since these persons, unlike in marriage or registered civil partnerships, do not have a legal right of inheritance, the survivors can be provided with a secure legal status in this way.

Often, the contract also pursues the purpose of obliging the contractual partner to provide for the testator until the end of his life by appointing an inheritance. The contracting parties need not be married, related or related by marriage. The parties may consist of several persons on both sides. Another common aspect of concluding an inheritance contract is of an entrepreneurial nature.

The formal requirements for inheritance contracts are strict. For example, an inheritance contract can only be concluded before a notary. Therefore, seek advice from a notary if you are considering this route.

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