Execution of wills

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07.09.2020

Execution of wills: risk provision for entrepreneurial families

Execution of a will offers the possibility of implementing the entrepreneur's will even after his death. Some entrepreneurs have the wish to keep ownership of companies until death. In the absence of a family successor, the aim is to ensure that the business is transferred to another person immediately after death - often with the aim of identifying a buyer who will maintain the continuity of the business.

In order for the entrepreneurial will to be implemented, it is advisable to appoint an executor of the will at an early stage. By ordering an execution of a will, the testator can ensure his or her influence beyond death. Major advantages of the execution of a will are

• The testator can ensure that bequests and conditions are fulfilled.
• The execution of a will makes it possible to simplify the administration of the estate, for example, if there are several heirs.
• If companies or shares in companies are inherited, the executor can initiate and supervise the sale.
• In the case of heirs who are minors, the problematic and lengthy involvement of the guardianship court can be dispensed with.
• The access of creditors to the estate of an heir can be avoided under certain circumstances.

This Article deals with the aspects of the execution of wills.

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