All articles by Dirk W. Kolvenbach

Statutory Succession and Last Will – What is What?

By | Succession planning and transfer to next generation, Last will and testament, Vera Niedermeyer, Dirk W. Kolvenbach, Gerd Kostrzewa | 6 min read

Statutory Succession and Last Will Many property owners as well as owners of other assets ask themselves whether it is advisable to make provisions for their own death, or whether it is better to simply leave succession to the (German) law. Nevertheless, the ability to take such a decision in an informed manner requires knowledge of the rulings contained in the law. Only those who know the statutory mechanisms can achieve an optimum balance between the actual as well as the legal alternatives of the available structuring modalities. The...

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Statutory Succession and Last will

Underestimating the Accrual of Inheritance with Foreign Assets: A Common Mistake

By | Estate planning, Succession planning and transfer to next generation, Vera Niedermeyer, Dirk W. Kolvenbach, Gerd Kostrzewa | 3 min read

Accrual of inheritance involving assets abroad often underestimated An international accrual of inheritance is given when for example a German testator holds assets abroad or vice versa a foreign testator holds assets in Germany. Due to the different national regulations in each country the international assets of e.g. Germans involve significant civil and fiscal-law risks if not structured carefully. Therefore it is advisable to concern oneself with this subject during one's lifetime and to take corresponding measures if possible. The...

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Inheritance, accrual of inheritance

How to protect and spread your wealth optimally

By | Estate planning, Family assets; art, portfolio, realty, Tax Planning, Dirk W. Kolvenbach, Gerd Kostrzewa | 4 min read

Showing ways and solutions to the High Net Worth Individuals to protect and optimise their assets. Wealthy people – the so called High Net Worth Individuals – keeping their property on a foreign account are currently under a general suspicion of tax evasion. The case involving Uli Hoeneß appears to prove the opinion of all those who see a close correlation between a growing bank account and declining moral standards. Protecting and spreading the wealth in an optimum manner within the framework of legal regulations There are several...

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wealth

Family Offices – What investors should know about them

By | Family assets; art, portfolio, realty, Family Office, Dirk W. Kolvenbach, Gerd Kostrzewa | 7 min read

The Family Office can help if the private wealth has become extensive and complex. Finding a suitable partner is essential. To enable successful, i.e. profitable, management of assets, Family Offices must meet specific quality requirements such as personal integrity, high professional standards and service orientation. Due to increasing complexity and internationalization, advice from independent external legal advisors is indispensable in order to guarantee high-level expertise. Mandating large law firms can be advantageous for liability...

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family offices