Executing a will is a matter of trust
The execution of a will is one of the most important instruments of succession planning, which I am gladly able to provide as a certified executor of the AGT (Consortium of German Executors).
Appointing an executor ensures the last wishes of the testator are implemented and serves the following objectives:
These goals are often better achieved when the responsibility for handling and administrating inheritance is entrusted to an executor. After all, when heirs attempt to arrange everything themselves, disputes and frustration are often inevitable.
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What are the advantages of appointing my tax advisor as executor?
What tasks does the executor have?
The executor administrates the inheritance and executes the last will of the testator. The executor takes possession of the inheritance and may dispose over it. They settle claims, fulfil bequests and monitor compliance with requirements.
In the case of joint heirs, the executor distributes the inheritance among the heirs by preparing a distribution plan and hearing the heirs. If the testator has requested permanent executorship, the executor will manage the inheritance beyond handling succession.
The key tasks include:
How is the executor engaged?
The executor is typically appointed by the testator in the testamentary disposition (such as in the testament or inheritance contract).
What pay does the executor receive?
According to the law, the executor is entitled to ‘suitable remuneration’ defined by the testator in the testament. According to practice and court rulings, tables are typically used in which the fee is based on a percentage of the gross estate and the scope of the service.