Power of Attorney for Business and Private Assets
In the event of death, heirs or relatives cannot immediately act on behalf of the deceased – they must first identify themselves as the beneficiary by means of a certificate of inheritance or a notarial will. However, this can take up valuable time. The testator should therefore issue powers of attorney to suitable persons. The same applies in the event that a person is no longer capable of conducting business or acting, for example in a coma situation.
If an entrepreneur drops out as managing director, others must be able to act on his behalf. If no procuration or power of attorney has been granted, business powers of attorney or general powers of attorney should be available in any case. This also applies to the level of the shareholder: as long as the heir cannot present a certificate of inheritance or a public will, he is not formally entitled and therefore cannot submit shareholder resolutions to the Commercial Register – for example, the resolution in which he appointed himself as the new managing director.
Power of attorney and living will
For his or her own personal situation due to serious illness or incapacity to work, each person provides as many decision-making aids as possible, such as a living will and a power of attorney. And in the event that both parents of underage children die, a declaration of custody is recommended, i.e. the naming of persons who are to exercise custody – or not. The family court will be guided by this.
In principle, these personal dispositions do not belong in a will, because otherwise they only become known when the will is made and therefore sometimes too late. Separate declarations are therefore more practicable, and in certain cases notarial recording is also recommended here.
The same also applies to dispositions and wishes for one’s own burial. Special wishes, for example regarding the type of burial, should be set out in a separate funeral order.
Letters to relatives and companies
Not infrequently, the testator formulates notes, instructions, wishes and greetings to his surviving dependants, but also to the company management. These statements are also better written in their own letters and should not be included in the will. In any case, the author must avoid reading from such communications testamentary instructions and conditions that undermine the actual will.
The Emergency Case Project
The compilation of an emergency case takes less time than is often assumed – but it is a consistent completion. In any case, the result helps the family and relatives and saves them some worries, at least at this point.