Execution of wills

• Professional implementation and fulfilment of wills after death
• The will is binding for heirs and executors
• Service offered to NORD/LB or BLSK customers as well as customers of cooperation savings banks
• Execution of administrative and ongoing wills
• NORD/LB is a long-standing provider and experienced service provider in this field

Activity:

• Coordination of funeral formalities
• Constitution of the estate
• Housing or household liquidation
• Termination of existing contracts
• Valuation and, if necessary, realisation of estate items
• Deregistration/deletion of digital data (known as the "digital estate")
• Creation of an estate directory/documentation of estate development
• Fulfilment of bequests
• Management of the estate
• Commissioning of the income tax return
• Submission of the inheritance tax return
• Fulfilment of inheritance

Customer benefit:

• Relief of heirs
• Executor acts as a neutral third party
• Implementation of the last will is ensured

Who may be interested in the execution of a will:

• Special family circumstances (divorced spouses and patchwork families, customers with children under the age of 18 or with disabilities, heirs who are not able to deal with inheritance processing for other reasons (e.g. spatial distance, age, mental state), single customers without close surviving relatives)
• Extensive assets (e.g. art collections, complex investment or real estate assets)
• Fulfilment of special customer wishes (preservation of real estate (e.g. rented houses), large number of bequests and conditions, pre- and post-inheritance regulations, establishment of foundations/endowments upon death)
• if there is suspicion of dispute among heirs

Foundations

• Establishing foundations is also possible with limited assets
• Foundation idea: "Doing something good!" is possible for everyone
• Legacy lives on in the foundation name – memorial idea
• Non-profit foundations are exempt from inheritance tax – the assets are transferred to the foundation tax-free
• Stiftungspartner GmbH assumes professional foundation management
• Foundation types:

Endowment: Contribution to an existing foundation as an increase in the foundation's capital. The purpose of the foundation is set out in the charter.

Foundation fund: Fund set up specifically for foundations in the form of "subfoundations“.

Trust foundation: Non-independent foundation under an umbrella foundation. The umbrella foundation is responsible for administration. No separate committees are required. The name of the foundation can be freely chosen by the founder.

Legal foundation: Independent foundation with its own committees (board of directors and board of trustees). The purpose of the foundation can be chosen for charitable purposes. The name of the foundation can be freely chosen by the founder.

Further information

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