Executor

Testators have the option of appointing one or more executors as part of a testamentary disposition(will or inheritance contract). The most common use cases in practice are the so-called permanent execution of a will and the liquidation execution of a will.

Liquidation execution of a will

In the case of the liquidation execution of a will, the executor takes care of the liquidation of the estate. This means that he ensures that all parties involved receive the inheritance/legacy to which they are entitled. The executor must also take care of the inheritance tax return.

Permanent execution of the will

Permanent execution of a will, on the other hand, involves the executor managing individual or all assets for a certain period of time. This is often the case if the testator stipulates that his or her heir - usually a minor - should not receive the inheritance immediately upon death, but only once he or she reaches a certain age. The testator does not have to adhere to the distinction between being of legal age and being a minor. A permanent execution of the will is often ordered until the completion of vocational training.

Our experienced team of specialist lawyers in Frankfurt and Berlin will be happy to advise you.