Asset transfer, will, donations
How can I compile a will to ensure it is valid? What do I have to consider when leaving an inheritance? What do I have to consider when making donations?
Asset transfer
How can values that I have created in the course of my life continue into the next generation?
It's a good feeling when the important things in life are taken care of.
Let's talk about your wishes and possibilities.
The Will
Anyone who wants to bequeath their estate and does not want intestate succession to apply, must leave a testamentary disposition. For this to be legally valid, certain formal requirements must be met. It is best to consult an expert about this. Below, we have explained everything else you might need to take into consideration.
Donations
It is often maintained that making donations while you are alive is generally easier and cheaper than bequeathing your estate. In the case of donations, however, there are numerous details to take into account such as property transfer tax in the case of real estate. Also in this case, it is always wise to seek professional advice.
Intestate succession
In Austria, there is no obligation to draw up a will (testamentary freedom) If someone dies and has not left a testamentary disposition, intestate succession applies.
EU Succession Regulation
The EU Succession Regulation regulates cases with a foreign connection, such as the following: An Austrian lives in Italy and dies there, but leaves assets throughout Europe. The EU Succession Regulation determines which law of succession is applicable in cases of international succession.
The health care proxy
What happens if one day you are no longer in a position to sort out your matters yourself? In this case, the health care proxy applies, which allows you to determine a person of trust now, who would then take care of your assets and business if the occasion arises. In this way, you can determine this person yourself and avoid judicial representation of an adult. Important: It is mandatory for the health care proxy to meet the appropriate formal requirements.
It is absolutely recommended to rely on competent advice from a notary or a solicitor. In case of any questions please do not hesitate to consult an expert about this.
