Leave a lasting legacy by making a donation towards research in your will

Q&A

• When does a last will and testament make sense?

  With a will, you have the opportunity to determine exactly what should happen to your estate. A will is particularly useful if you want to remember not only close relatives but also support organizations, divide your estate in a special way or take other individual ideas into account.

  If there is no will, the statutory order of succession applies: according to this, close relatives such as spouses (or registered partners), (adopted) children or grandchildren inherit in line. If you are not married and have no children or grandchildren, parents, siblings, nieces or nephews inherit (if still alive).
  If you no longer have any living relatives, your assets go to the state. This also applies if your relatives cannot be traced.

• What is/when does the legal success apply?

  If there is no will, the statutory order of succession applies: according to this, close relatives such as spouses (or registered partners), (adopted) children or grandchildren inherit in line. If you are not married and have no children or grandchildren, parents, siblings, nieces or nephews inherit (if still alive).
  If you no longer have any living relatives, your assets go to the state. This also applies if your relatives cannot be traced.

  Please state the following as the reason for payment: “Bereavement first name and surname of the deceased”

• What is the difference between an inheritance and a bequest?

  The terms “bequest” and “legacy” are often used interchangeably. In legal terms, however, an inheritance or bequest is a completely different form of donation upon death.

  Bequest: A bequest is a specific part of the inheritance, for example a certain amount of money, a property or an item of value. Legatees can be persons or organizations. Unlike heirs, they have no obligations. They are not liable for any debts owed to the deceased, nor are they responsible for settling the estate.

  Heir: Persons or organizations who are appointed as heirs succeed the deceased person in the event of inheritance. Heirs are therefore responsible – regardless of whether they act as sole heirs, co-heirs or joint heirs – for settling the estate in the interests of the deceased person. Accordingly, heirs must also take care of liabilities and fulfill bequests stipulated in the will.
  A community of heirs depends on unity and is therefore prone to disputes. It is therefore advisable to appoint a sole heir and several legatees if you wish to include several people or organizations in your will.

• Why should I donate my inheritance?

  Donating an inheritance is a very personal decision. There are several reasons why people want to donate their inheritance:

  Philanthropy and social commitment: many people feel motivated by philanthropic values and want to make a positive contribution to society. By donating their inheritance, they can support charitable organizations and projects that are of particular importance to them.

  Supporting important causes: There are often issues or causes that were particularly close to a deceased person’s heart. Donating the inheritance makes it possible to continue to promote and support these causes even after death.

  No direct heirs: Some people have no close relatives or have already decided during their lifetime that they do not wish to bequeath their assets to their next of kin. In such cases, donating the estate offers a sensible alternative.

  Tax advantages: In some countries and jurisdictions, donations from an estate may be eligible for tax relief. This can be an additional incentive to use the inheritance for charitable purposes.

  Using inheritance wisely: Some people want to ensure that their estate is used for a good cause and does not end up in the hands of distant or unknown heirs.

  Continuing one’s life’s work: People who have been committed to certain issues or projects throughout their lives often want their work to continue after their death. Donating your legacy can help to keep this legacy alive.

  Improving quality of life: legacy donations can help to improve the lives of disadvantaged or needy people and bring about positive change in society.

• How do I go about donating my inheritance?

  If you wish to donate your inheritance, there are a few steps you can take to ensure that your donation fulfills the desired purpose and is legally correct:

  Get informed about charitable organizations: Research various non-profit organizations, foundations or charities that deal with issues close to your heart.

  Draw up a will or inheritance contract: If you wish to donate your inheritance, you should record this in a will or inheritance contract. It is advisable to consult a lawyer or notary to ensure that the will complies with the applicable laws and that your wishes are properly drawn up.

  Name the beneficiary organization: In the will, you should clearly state which organization or foundation should receive the inheritance. Also specify the portion of the inheritance you wish to donate and make sure you give the correct contact details of the beneficiary organization.

  Inform your next of kin: If you wish to donate your legacy and state this in your will, it is advisable to inform your next of kin. This can help to avoid misunderstandings later on and ensure that your wishes are respected.

  Consult an expert: If you have any questions about making a will or tax implications, it is advisable to consult a solicitor or tax advisor for comprehensive advice.