According to surveys, about one in ten people in Germany would like their estate to be donated in whole or in part to charitable causes after their death. However, there are a number of things to keep in mind to ensure that this final wish is carried out. Ralf Mangold, a specialist attorney in inheritance law, explained exactly what these are to the approximately 20 participants at our themed evening event “Leaving a Legacy the Right Way” on November 8 at InnoDom Cologne.
First, Ralf Mangold provided a comprehensive overview of statutory succession, the so-called testamentary disposition, the formal requirements that must be met, and inheritance tax. “We also used the event to highlight the option of naming the Cologne University Foundation as an heir or leaving it a bequest,” says Beate Lippelt, executive director of the Cologne University Foundation. This is because there are several things to consider in this case as well: If the foundation is named as an heir or co-heir to a community of heirs, it assumes the legal succession of the deceased—with all rights and obligations. In the case of a bequest, specific assets are transferred to the foundation. Afterward, some participants took the opportunity to ask questions. “Overall, the event was well received,” says Beate Lippelt, Executive Director of the Cologne University Foundation.
Considering leaving a bequest to the University of Cologne?
Are you also considering leaving a bequest to the University of Cologne? We’d be happy to send you our brochure on drafting a will free of charge. Feel free to request the brochure today by email at: info@stiftung-uni-koeln.de.