Estate Directory: Tips for Optimal Estate Planning

2Q==Table of contents:1. Introduction to Home Maintenance the Register of Successions2. Legal basis and requirements3. Preparation of a list of successions4. Content and structure of the list of successions5. Valuation of assets6. Debts and liabilities in the estate register7. Dealing with real estate in the estate8. Digital heritage and estate register9. Conclusion and final tipsIntroduction to the estate register

The estate register is a central instrument in German inheritance law and serves to record and evaluate the entire estate of a deceased person. It is essential to make the financial circumstances of the testator transparent and thus also to contribute to the avoidance of disputes between the heirs. This section discusses the legal basis, the meaning and the individual components of an estate register. Legal basis

The obligation to draw up an estate register results from § 260 of the German Civil Code (BGB). It states: “The heir must provide the person entitled to the reserved portion with information on the existence of the estate on request.” As a rule, information is provided by means of a written list of the estate, in which all objects of the estate are listed and evaluated. This obligation applies to all heirs, regardless of the inheritance quota.Importance of the estate register

The estate register has several functions:It serves to ensure transparency and clarity vis-à-vis co-heirs, persons entitled to the compulsory portion and creditors of the testator.It makes it possible to determine the value of the estate in order to correctly calculate inheritance and compulsory portion claims.It helps in fulfilling tax obligations, such as inheritance tax returns.It can serve as a basis for dividing the estate among the heirs.Elements of an estate register

A complete list of successions should contain the following components:Personal data of the testator (name, date of birth, date of death, last residence)Details of heirs and their inheritance quotasList of estate items with a detailed description and evaluationList of debts and liabilities of the testatorInformation on assets not in the estate, but which are relevant for the calculation of compulsory portion claims (e.g. gifts within the last ten years)Examples of estate objects

Estate items can include a variety of assets, such as:Cash, bank accounts and securities accountsReal estate, land and agricultural landVehicles and boatsFurniture, household effects, jewellery and works of artLife insurance, pension rights and pension rightsPatents, copyrights and licencesShareholdings and sharesLegal deadlines and formal requirements

In principle, there is no legal deadline within which an estate register must be drawn up. However, the person entitled to the compulsory portion may request the provision of information about the estate in accordance with § 260 BGB. In this case, the list of successions should be drawn up promptly in order to counteract possible default interest. There are no specific rules regarding the form, but the list of successions should be written and clearly structured.

Overall, the preparation of a detailed and complete inventory of the estate is an important task of the heirs in order to record the estate correctly and to ensure compliance with legal obligations. Attention should always be paid to a careful and correct presentation in order to avoid later disputes. Legal basis and requirements

This section explains in more detail the legal basis and requirements for the estate register. The duties of the heirs, the rights of the persons entitled to the compulsory portion and the various laws and regulations relating to the estate register are examined. Obligations of heirs

According to § 260 BGB, the heirs are obliged to draw up a proper list of the estate. This obligation applies regardless of the inheritance quota and applies to all heirs, both legal and testamentary. It should be noted that the heirs are liable for the accuracy and completeness of the list of successions. False information or the concealment of estate objects can lead to claims for damages (§ 839 BGB). Rights of those entitled to a reserved portion

According to § 2303 BGB, persons entitled to a compulsory portion are entitled to the reserved share, which results from half of the legal share of the inheritance. In order to be able to calculate this claim, persons entitled to the compulsory portion need information about the value of the estate. The estate register is used for this purpose. Persons entitled to a compulsory portion may request the creation of such a list in accordance with § 260 BGB. Legal regulations on the estate register

In addition to § 260 BGB, there are other legal regulations that are relevant in connection with the estate register:§ 1967 BGB: Inheritance liability§ 1970 BGB: Heir liability for estate liabilities§ 2314 BGB: Valuation of the assets of the estate for the reserved portion§ 2315 BGB: Crediting of donations to the reserved portionExamples of the application of the legal bases

In order to better clarify the legal basis and prerequisites, here are some practical examples:

– Example: A community of heirs consists of three siblings, one of whom is entitled to a compulsory portion according to § 2303 BGB. The other two siblings are obliged to draw up a list of the estate and make it available to the sibling entitled to the compulsory portion so that he can calculate his entitlement to the compulsory portion.

– Example: A community of heirs deliberately conceals part of the estate in the estate register. The person entitled to the compulsory portion learns of this and asserts claims for damages in accordance with § 839 BGB. Cooperation with lawyers and notaries

Since inheritance law is complex and the preparation of an estate register requires legal knowledge, it is advisable to consult a lawyer or notary when drawing up an estate register. This can ensure that all legal requirements are complied with and that the estate register is created completely and correctly.

In summary, the preparation of an estate register is a legally important task that is of great relevance for both heirs and those entitled to a compulsory portion. Compliance with the legal basis and requirements as well as cooperation with lawyers and notaries can help to avoid mistakes and prevent disputes between the parties involved. Preparation of an estate register

The preparation of an estate register is a complex task that requires care and accuracy. This section describes in detail the steps involved in creating an estate register to ensure optimal management of the inheritance. Identification of the objects of the succession

First of all, it is necessary to identify all the objects of the estate that existed at the time of the testator’s death. This should take into account movable property as well as real estate, land and shareholdings. The investigation can be carried out by reviewing documents, interviewing relatives or reviewing the testator’s living space. Valuation of the assets of the estate

The assets listed in the estate register must be valued in order to determine the value of the estate. This should be based on the market value, i.e. the value that could be achieved on the market. When valuing real estate, works of art or antiques, it may be useful to consult an expert or appraiser. Recognition of liabilities and liabilities

In addition to the assets, the debts and liabilities of the deceased must also be listed in the estate register. These include loans, mortgages, tax debts and other liabilities. Again, accurate research is required to ensure complete and correct recording. Structuring of the estate register