Testamentary Donation

If a person dies without leaving a will, the legal succession takes effect. A will is therefore always necessary if you want to bequeath something to people or charitable foundations such as the KIT Foundation that are not considered by the legal succession. If you take care of your estate early on, you can arrange the bequest as you wish and make use of tax planning leeway. With a donation to the KIT Foundation in your will, you can create something lasting for the well-being of future generations.

Bequest

You can consider the KIT Foundation in your will by appointing it as heir/co-heiress or by donating individual assets such as a bank deposit, a certain amount of money, or real estate to it by way of a bequest. A bequest is particularly recommended if you want to consider someone without appointing him/her as heir immediately. In contrast to an heir, who becomes the legal successor of the deceased upon acceptance of the inheritance, the legatee acquires a legal claim against the heirs. While the heirs are also liable for any debts of the testator (provided they do not refuse the inheritance), the part of the inheritance regulated by a bequest is debt-free. Furthermore, a bequest cannot become the subject of inheritance disputes.

Donations 

Of course, you can determine which concrete projects should benefit from your testamentary contribution to the KIT Foundation. Besides a donation for concrete projects, an endowment to the capital stock of the foundation as well as the establishment of an endowment fund or a sheltered foundation is possible.

Contract in Favour of Third Parties 

You may agree with your bank or credit institution that the rights to certain accounts or deposits will pass immediately to a previously designated person or organisation at the time of your death. The funds in these accounts will therefore not be included in the estate in the first place. A contract in favour of a third party must be irrevocable and countersigned by the beneficiary and thus officially accepted. Irrevocable does not mean that you can no longer dispose of the accounts. You can still access them at any time, even dissolve them if necessary and cancel the contract again. The credit institutions keep the necessary forms for a contract in favour of third parties.

Life Insurance

You can also use the KIT Foundation as beneficiary of your life insurance policy. If you do not live to see the maturity date, the capital paid out will be transferred to the KIT foundation.

We would be pleased to support you in your considerations and to put you in touch with a legal expert in your area.