What if I have no fortune to inherit?
June 17, 2023 | 50,00 EUR | answered by Uwe Herrmann
Dear estate lawyer,
My name is Renata Vöss and I am facing a concerning situation regarding my inheritance. My parents have already passed away and I have no siblings or other relatives that I could name as heirs. Unfortunately, I have not been able to accumulate a significant amount of wealth in my life that I could pass on.
My concern now is that in the event of my passing, there will be no one to inherit my estate. What happens in such a case? Are there legal regulations that determine who will inherit my assets if I have no direct heirs? Can I name specific institutions or charities as heirs in my will, even if they are not related to me?
I am deeply worried about how my estate will be handled if I have no wealth to pass on. Are there ways to make provisions or take legal steps to ensure that my inheritance is distributed according to my wishes and intentions?
I thank you in advance for your assistance and advice on this matter.
Sincerely,
Renata Vöss
Dear Mrs. Vöss,
I understand your concerns and would like to assist you in clarifying your questions. Indeed, there are legal regulations that determine who will inherit your assets if you do not have direct heirs. These regulations are governed by the Law on Proceedings in Family Matters and in Matters of Non-contentious Jurisdiction (FamFG).
If you do not have direct heirs and have not written a will, the statutory succession comes into effect. According to this succession, relatives of the deceased, such as siblings, parents, or grandparents, primarily inherit. If there are no distant relatives either, the inheritance goes to the state (known as "statutory succession without heirs").
However, you have the option to designate institutions or charitable organizations as heirs in a will or inheritance contract. These entities do not have to be related to you, but can be named as heirs if you wish. It is important that you clearly and unambiguously formulate your will to ensure that your wishes regarding the succession are carried out.
To ensure that your inheritance is distributed according to your wishes, I recommend that you write a will. In this will, you can specify exactly who should inherit your assets and in what form the distribution should take place. It is also possible to appoint an executor, who ensures that your wishes are carried out.
Additionally, you can make provisions by writing an advance directive and a power of attorney. These documents specify who can make medical decisions for you in case of incapacity and who handles your legal affairs.
I hope that this information has been helpful to you. If you have any further questions or need assistance in creating a will, I am at your disposal.
Sincerely,
Uwe Herrmann
Estate Lawyer
