Estate planning

The estate planning checklist (Germany):

For EVERY adult (regardless of wealth):

✅ Write a will: handwritten or notarised. Clarifies who inherits what
✅ Lasting power of attorney: who decides for you if you can't?
✅ Living will: which medical measures do you (not) want?
✅ Overview of accounts: a list of all accounts, securities accounts, insurance policies – so your surviving relatives know what exists
✅ Digital estate: passwords, email accounts, social media – who gets access?

With larger assets (from approx. €500,000):

✅ Plan gifts: use the allowances every 10 years (€400,000/child)
✅ Property transfer: possibly during your lifetime with a usufruct
✅ Tax adviser: optimal structuring by a professional
✅ Family foundation: worth considering from approx. €2 million