Many married couples choose the Berlin Testament, but this isn’t always the best solution and can even lead to financial disadvantages. When might the Sylt Testament be the better choice?
In most cases, spouses want to ensure that the surviving partner is financially secure. A common method for this is the Berlin Testament, where the surviving spouse inherits the entire estate first, while the children only receive their share after the death of both parents.
“However, even though the Berlin Testament is widespread, it is not ideal for all married couples and can potentially lead to financial disadvantages. Therefore, it is worthwhile to consider alternative models such as the Sylt Testament,” says attorney István Cocron of CLLB Attorneys at Law.
What exactly is the Sylt Testament?
The term “Sylt Testament” is relatively new, but the underlying legal principle has been in use for a long time. It is not a legally defined term, but rather a synonym for a specific type of joint will for married couples. Similar to the Berlin Testament, it concerns the distribution of the estate, but with significant differences.
Unlike the Berlin Testament, where the surviving spouse receives the entire inheritance, the Sylt Testament allows the children to inherit upon the first death. The spouse can still be provided for, for example, through a legacy or a property gift.
For whom is the Sylt Testament suitable?
The Sylt Testament is advantageous if the surviving spouse no longer requires financial security. Since the assets are passed directly to the children, a double transfer upon the death of the second parent is avoided.
