Chambers of tax advisors, lawyers, and notaries provide information about inheritance and bequests

Schleswig-Holstein Chamber of Notaries. How can a company be passed on in a legally compliant and tax-optimized manner? This question was the focus of this year's Inheritance Law Day 2025 at the Lübeck Chamber of Industry and Commerce. Experts from the fields of law, notary services, tax consulting, and corporate management highlighted the numerous pitfalls that lurk in company succession—and presented practical solutions.

Common mistakes: When missing regulations become an existential threat

The speakers„ presentations focused primarily on the most common mistakes made in succession planning. They emphasized in particular that missing or unclear provisions in wills can threaten the existence of family businesses. Instead of relying on statutory succession, even a simple will is better than none at all. The basic principle was: “What is not regulated often becomes a problem." Important keywords were timely emergency planning, the inclusion of emotional factors within the family, and regular review of existing dispositions – ideally every ten years.

Read the follow-up report on the panel discussion on this topic here. „Distorted perception of internal security“.

Communication is key: Why openness prevents conflicts

Warnings were also issued about typical communication errors: a will that is not communicated can lead to mistrust and conflict. The recommendation was therefore to talk to all parties involved early on and openly—with the help of professional mediation if necessary.

Lawyer and notary Dr. Oswald Kleiner explored the topic in greater depth with a presentation on „business wills.“ It became clear that testamentary provisions are only the second-best solution—ideally, business succession should take place during the owner's lifetime.

Entrepreneurial will as an emergency tool – but not the first choice

The entrepreneur's will should primarily be understood as an emergency provision – in the event of the entrepreneur's unexpected death. Careful drafting is crucial, taking into account legal, tax, and family circumstances. Particular attention was paid to dealing with so-called „deviating heirs,“ i.e., family members who do not take over the business. Here, it is important to create a balance – e.g., through usufruct rights or pension payments – without jeopardizing the economic viability of the business. The special features of company shareholdings, particularly in limited liability companies (GmbH), were also explained: company law takes precedence over inheritance law, according to the central conclusion on the inheritance of GmbH shares.

Tax trap succession: Take advantage of structuring options in good time

The event was rounded off by a presentation from tax advisor and auditor Peter Zimmert, who highlighted the tax pitfalls of asset succession. He explained how inheritance tax can be reduced or avoided altogether through clever planning—for example, through advance transfers, indirect gifts, or the targeted use of allowances. It is particularly important to coordinate the tax consequences with civil law measures at an early stage. After all, „every tax arrangement is based on a change in civil law.“ Zimmert issued an urgent warning about the consequences of creeping tax increases – due to rising property values while allowances remain the same. Well-thought-out estate planning is therefore not only sensible, but increasingly essential.

Conclusion: Business succession requires foresight—legally, fiscally, and personally.

The 2025 Inheritance Law Day offered practical insights and in-depth expertise on the complex interplay between wills, corporate law, and tax issues in business succession. Anyone who wants to pass on a business must not only plan ahead from a legal perspective, but also act responsibly in terms of family and economic considerations.

If you would like advice on this topic from a notary in advance, you can find it on the Internet at https://notar.de/ the right contact person. You can also visit the online consumer portal of the Chamber of Notaries at https://ratgeber-notar.de/.