Heritage
...gal portion. The advantage is that this is based on fixed rules, everyone is treated equally and the property will remain in the possession of the family. But this also means that only relatives can be entitled to inherit. If a good friend and someone else had always looked after him and was his confident, this person wont have a legitimate claim to the inherit. This is one of the disadvantages. The problem is, if no testament exists, every single person can make every assertion he/she wants and it¡¦s nearly impossible to check all the statements. (If you wanna deal justly) Another problem can appear if the deceased had no contact to his relatives (wives, children) but nevertheless they are entitled to inherit. (so don¡¦t forget to write your testament ƒº ) 3. Jurisprudence (Schenkung) You call it ¡§jurisprudence¡¨ if the property is already assigned in his lifetime. That¡¦s advantageous because in this case he can express his own free will and you can rule a forgery out. Moreover, it avoids any power struggles. Unpropitious is, that a notarial act is a prerequisite (and this also costs a lot of money) and you should also keep in mind that it will be necessary to check whether the inheritor is able to lead the company or not. 4. Company a. A beneficiary continues the business At first it is necessary to check whether there is a beneficiary who is able, this means who has enough know-how and maybe also professional experience, and also willing to lead the company and who has also enough time to do this. If there is more than one person willing, they can lead the business together. If the other beneficiaries agree with this solution, there is the possibility that the new leader has to pay an amount of money to ach of the beneficiaries (and because of that they don not have any claims any more) or that they are participating. If the company stays in the property of the family, all the participators are not only participating but they also have the duty to bring money into the company if the company makes losses. b. The company is sold If there is nobody who wants to continue the business there is the possibility that the beneficiaries sell the company and the assets are shared between them. They do not have any risks, the revenues can be shared fairly and they have no sorrows about the continuation of the company and everyone can continue with his life as he wants, nobody has any duties (concerning the company). The disadvantages are that if the company is sold the business doesn¡¦t stay in the property of the family and an outside person, who isn¡¦t familiar with the company, the cu...