Passing on what you have built
EstateThose who put things in order early decide for themselves what happens to their assets. We show how pension provision, insurance and assets interact when an estate is settled, and bring in specialists for wills and inheritance contracts.
What the law prescribes and what you decide yourself
Statutory succession
Without a will or an inheritance contract, statutory succession applies. It follows the degree of kinship: descendants come first, and the spouse or registered partner inherits alongside them. Cohabiting partners have no statutory right to inherit; anyone who wants to provide for them must arrange this expressly.
Compulsory portions since 2023
The revised inheritance law has applied since 1 January 2023. The compulsory portion of descendants is now half of their statutory entitlement, and that of parents no longer exists. For spouses and registered partners it remains one half. This means a larger part of the estate than before can be disposed of freely.
Will and inheritance contract
You can make a will on your own: handwritten, that is written by hand from beginning to end, dated and signed, or as a public deed. An inheritance contract binds several parties and must be drawn up as a public deed. For both we recommend involving a notary or a law firm. We contribute the figures and documents from your pension provision and assets.
Gifts during your lifetime
Assets can also be passed on during your lifetime, as a gift or as an advance on the inheritance. Such transfers may be taken into account when the estate is settled and may affect compulsory portions. It should be clarified beforehand whether your own retirement provision will still be sufficient afterwards.
What does not simply follow the will
Pillar 3a
For pillar 3a the ordinance lays down a fixed order of beneficiaries. The spouse or registered partner comes first. In the next group, which includes the descendants and, under certain conditions, the life partner, you can specify the beneficiaries and their shares in more detail. This is done by a written declaration to the bank foundation or insurer, as its regulations provide. Since 2023 the pillar 3a assets have been included when compulsory portions are calculated.
Pension fund and vested benefits
Who receives benefits from the pension fund on death is determined by the law and the fund's regulations. Many funds provide benefits for life partners but require written notification during the insured person's lifetime. We check with you what your regulations provide and which notifications are missing.
Life insurance
With life insurance you name the beneficiaries in the policy; the benefit is paid out directly to them. Its surrender value is nevertheless included when compulsory portions are calculated.
Inheritance and gift tax are cantonal
Differences between cantons
The Confederation levies no inheritance or gift tax; the cantons are responsible, and in some cases the municipalities as well. Spouses and registered partners are exempt everywhere, direct descendants in most cantons. For more distant relatives and for unrelated persons, including cohabiting partners, the rates differ considerably from canton to canton. As a rule the last place of residence of the deceased is decisive, for gifts that of the donor, and for real estate the location of the property.
What we contribute
We do not calculate taxes and we do not promise any saving. We gather what is already in place and bring in a tax adviser for the tax assessment.
Succession in your own business
Plan early
If a business is part of the assets, succession becomes the biggest question of the estate: who takes over, at what value, and how are the other heirs taken into account? The revised inheritance law leaves more room for this, but it does not settle the question by itself.
Northlake Partners is neither a notary's office nor a law firm. This page provides general information and does not replace legal or tax advice. For wills, inheritance contracts and tax questions we work with specialists.
Let's discuss your situation
Every advisory engagement begins with a conversation, by phone, email, or in person in Zurich. We take the time to understand your situation before making recommendations. The initial consultation is free of charge and without obligation.