Succession Planning & Gifts
There is often a desire to transfer assets to the next generation during one’s lifetime as part of structured succession planning. In addition to the area of company succession, the transfer of real estate or other assets by way of succession planning as a gift or in return for the reservation of certain rights is of great importance.
There are a variety of structuring options in this regard. It is conceivable to reserve rights of use (e.g. usufruct, right of residence) if economic benefits are to remain with the previous owners for the time being. In addition to the pure gift, (partial) payment obligations, consideration or ancillary obligations can also be agreed and rights of reclaim can be provided for.
If companies or parts of companies are assets, special challenges arise with regard to succession planning. Entrepreneurs are faced with the question of whether and to whom they should hand over their company as part of the succession process. In addition to an internal or external succession to suitable successors, a sale can also be considered as an alternative.
Asset succession combines Company Law, Family Law and Inheritance Law topics with often complex Tax Law issues that arise in the course of estate planning. We are happy to collaborate with your advisors (e.g. tax advisors, lawyers, banks) and implement the proposals developed in a sensible contract design.
Areas of Expertise:
- Succession planning/gifts
- Spousal benefits/goods swing (“Güterstandsschaukel”)
- Family pool/family company
- Transfer agreements/assignment agreements, possibly in return for usufruct, right of residence, life annuity
- Business succession
- General and precautionary powers of attorney for entrepreneurs
- Foundations
Useful links (in German):
- Themenseiten Vererben und Schenken (Bundesnotarkammer)
